SolarBank’s Camillus Solar Project Receives NYSERDA Incentives and Changes Ownership
Toronto, March 20, 2025 – SolarBank Corporation, a leading solar energy company listed on NASDAQ (SUUN), Cboe CA: SUNN, and FSE: GY2, is thrilled to share that it has secured an approval of $1,058,616 USD in incentives from the New York State Energy Research and Development Authority (NYSERDA) for the 3.26 MW Camillus Solar Project. This announcement comes after the Company disclosed on March 19, 2025, that the Project has been sold to Solar Advocate Development LLC (“Owner”) for a transaction valued at $7.3 million USD.
Background of the Camillus Solar Project
The Camillus Solar Project, located in Onondaga County, New York, is one of SolarBank’s significant undertakings under its commitment to expanding renewable energy sources in the region. With the New York State government’s continuous support for clean energy initiatives, the Project aligns with the state’s goal of reaching 70% renewable energy by 2030.
Impact on SolarBank Corporation
This approval marks a significant milestone for SolarBank as it continues to grow its renewable energy portfolio. The incentives will help offset the costs associated with the Project’s construction and development. With the Project now under the ownership of Solar Advocate Development LLC, SolarBank can focus on its ongoing mission to provide clean, sustainable energy solutions and contribute to a greener future.
Impact on the World
The Camillus Solar Project’s approval and sale to Solar Advocate Development LLC signify a positive step forward in the global transition towards renewable energy. With more companies and governments investing in solar energy projects, the world moves closer to reducing greenhouse gas emissions and mitigating the impact of climate change. Collectively, these initiatives contribute to the global goal of reaching net-zero carbon emissions by 2050.
Conclusion
SolarBank Corporation’s receipt of incentives for the Camillus Solar Project and its sale to Solar Advocate Development LLC represent a crucial step in the expansion of renewable energy sources in New York State and the world. As more companies and governments invest in solar energy, the global community moves closer to a greener, more sustainable future. SolarBank remains committed to its mission of providing clean, sustainable energy solutions and contributing to a better tomorrow.
- SolarBank Corporation receives $1,058,616 USD in incentives from NYSERDA for the Camillus Solar Project.
- The Project, valued at $7.3 million USD, is sold to Solar Advocate Development LLC.
- The Camillus Solar Project aligns with New York State’s goal of reaching 70% renewable energy by 2030.
- The Project is a significant step forward in the global transition towards renewable energy and reducing greenhouse gas emissions.
- SolarBank remains committed to providing clean, sustainable energy solutions and contributing to a greener future.
