SolarBank Corporation (“SolarBank” or the “Company”) is ?pleased to announce that it has completed mechanical construction on the 3.7 MW DC Geddes project (the “Project”) that is being developed by the Company in Geddes, New York. The next step is completion of final electrical work and acceptance testing. The Project is expected to become operational during the second quarter of 2024. Subject to receipt of financing, the Company intends to own and operate the Geddes project.
The Project which has a designed capacity of 3.7 megawatts (MW) DC is repurposing a closed landfill, addressing two critical challenges: the need for clean energy and the transformation of contaminated sites into valuable assets.
Dr. Richard Lu, CEO of SolarBank commented: “This is yet another major milestone in SolarBank’s growing independent power producer portfolio. I am excited for this project to begin operating and turn what was a closed landfill into a solar project that will generate clean renewable energy for years to come.”
There are several risks associated with the development of the project disclosed in this press release. The development of any project is subject to the availability of third-party financing arrangements for the Company and the risks associated with the construction of a solar power project.
