SolarBank Corporation announced on March 6, 2025, an update on the development of its 2.9 MW DC ground-mount solar power project, known as the Silver Springs project, in Gainesville, New York. The project has achieved a development milestone by receiving positive interconnection results via a completed Coordinated Electric System Interconnection Review (CESIR).
Following this positive interconnection determination, SolarBank will proceed with permitting the project site. The Silver Springs project is expected to be eligible for incentives under the New York State Energy Research and Development Authority (NYSERDA) NY-Sun Program and is projected to power 340 homes.
Dr. Richard Lu, CEO of SolarBank, commented that recently announced tariffs on Canada, Mexico, and China are not expected to impact the company's business. He highlighted that the US$49.8 million transaction with Qcells involves four projects developed with 'Made in America' solar panels, indicating SolarBank's ability to navigate supply chain issues and maintain positive project economics.
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