| Work Detail |
SolarBank Corporation is excited to announce the sale of its 3.26 MW Camillus Solar Project to Solar Advocate Development LLC for $7.3 million USD. SolarBank will also handle the construction of the project under an engineering, procurement, and construction (EPC) agreement dated March 18, 2025. The Camillus Solar Project is a 3.26 MW DC ground-mount solar power installation being built on a closed landfill site, designed to operate as a community solar project. It is expected to qualify for incentives through the New York State Energy Research and Development Authority NY-Sun Program. SolarBank has already secured the necessary permits and completed the interconnection agreement with the local utility company. Engineering and initial construction are underway, and SolarBank has begun procuring key equipment. Leveraging strong ties with Tier 1 suppliers, the company has secured orders for essential components such as solar panels, inverters, racking, and transformers. Dr. Richard Lu, CEO of the Company, said in a statement, “This is the eighth community solar project that will be constructed and operated for Solar Advocate as part of a relationship that originated in 2018. The fact that they are repeat customers is a testament to SolarBank’s ability to deliver projects and create long term sustainable value for its partners. We continue to execute on our strategy of growth in the EPC segment of the business and the Independent Power Producer segment of the business.” However, there are risks involved. The project’s progress depends on continued third-party financing for the Owner and the usual challenges of solar power construction. If the EPC agreement is canceled, SolarBank may not realize the full transaction value. Additionally, changes in government incentives or policy support for solar energy could affect the financial viability of future projects. The total value of the project, including the EPC agreement, is approximately $7.3 million USD. |
