SolarBank Completes Major Interconnection Study For 7.2 MW Hoadley Hill Solar Project, Paving The Way For Permitting

SolarBank Corporation, a leading developer and owner of clean energy projects in North America, has announced a key advancement in its 7.2 MW ground-mounted solar project located on Hoadley Hill Road in upstate New York. The project has successfully completed the Coordinated Electric System Interconnection Review (CESIR), a major regulatory requirement that enables the company to proceed with securing full site permits, arranging project financing, and initiating construction preparations.

Once operational, the Hoadley Hill solar project is expected to generate enough electricity to power approximately 850 homes. The energy produced will be fed directly into the local power grid, contributing to the region’s clean energy supply. The project will be structured as a community solar initiative, allowing local residents and businesses to subscribe and receive credits on their utility bills, without the need for rooftop solar installations. This model offers an accessible and cost-effective way for communities to benefit from solar power.

The project is backed by New York’s Value of Distributed Energy Resources (VDER) program, and is currently projected to receive an average compensation of US $0.0971 per kilowatt-hour (kWh) during the first year of operation. In addition, SolarBank aims to qualify for incentives through the New York State Energy Research and Development Authority’s (NYSERDA) NY-Sun Program. If approved, the project could receive a one-time payment of up to US $0.395 per watt DC, further strengthening the project’s financial outlook. These incentives are designed to reduce investment risks and encourage the growth of renewable energy infrastructure across the state.

Construction is planned to begin once all permits and financing are finalized. As a community solar farm, the project will serve subscribers within the region, supporting the broader adoption of solar energy and expanding access to clean power for individuals who may not have the ability to install panels on their own property. The Hoadley Hill project reflects SolarBank’s strong track record and scalable approach to solar development. With more than 100 MW of projects already completed and a pipeline of over 1 GW in various stages of development, the company continues to demonstrate its capacity to deliver high-quality renewable energy projects.

Richard Lu, CEO of SolarBank, stated, “With the interconnection review now in the rearview mirror, we’re shifting into high gear. We’re now full speed ahead on permitting and project financing to bring this clean energy solution online.”

This development also aligns with New York State’s leadership in community solar. Currently, the state accounts for nearly one-third of the United States’ total 6.2 GW of installed community solar capacity. Projects like Hoadley Hill support the state’s goal of reaching 6 GW of solar power by the end of 2025, as outlined in the Climate Leadership and Community Protection Act.

While the project has achieved an important milestone, there are still risks involved in its development. These include the need to secure a community solar contract, obtain the remaining permits, finalize financing arrangements, and complete the construction phase. Additionally, changes in government policies or incentive programs could affect the project’s financial viability. Further details on these risks can be found in the “Forward-Looking Statements” section of the original announcement.