TORONTO , Sept. 23, 2024 /PRNewswire/ - SolarBank Corporation (NASDAQ: SUUN; Cboe CA: SUNN, FSE: GY2) ("SolarBank" or the "Company") announces that it intends to develop a 5.4 MW DC ground-mount solar power project known as the Boyle project (the " Project ") on a site located in Broome County, New York .
The Project is expected to be eligible for incentives under the New York State Energy Research and Development Authority (" NYSERDA ") NY-Sun Program. The Company has secured a lease over the Project site and has applied for interconnection approval. The Boyle Project is a key addition to SolarBank's growing community solar portfolio, and contributes to the Company's extensive development pipeline, which now exceeds one gigawatt.
The Project is expected to employ agrivoltaics (the dual use of land for solar energy production and agriculture) including sheep grazing with a local agricultural partner. Research has shown that managed grazing simultaneously works to improve soil health and foster healthy ecosystems, while managing vegetation around the solar panels through natural, effective means. Grazing sheep at solar farms contributes dairy, meat, and wool to the locally sourced, renewable farm market.
Contracts for grazing services provide farmers with a reliable source of new income, on top of what they earn via products they produce. Once completed, the Project will be operated as a community solar project. The clean energy generated by a community solar project feeds dir.