SolarBank Corporation has announced the sale of four ground-mount solar power projects in upstate New York to Qcells, a global leader in clean energy solutions. The projects, named Gainesville, Hardie, Rice Road, and Hwy 28, have a combined capacity of 25.577 MW. Qcells, a subsidiary of Hanwha Solutions in South Korea, is renowned for its high-quality solar panels, intelligent energy storage systems, and large-scale renewable energy projects worldwide. The company operates from its global headquarters in Seoul, South Korea, with manufacturing facilities in the U.S., Malaysia, and South Korea.
SolarBank developed the New York sites and secured positive interconnection results through the Coordinated Electric System Interconnection Review (CESIR). The projects will be built individually, with SolarBank managing their development through engineering, procurement, and construction (EPC) agreements. The total value of the project sale and EPC agreements is approximately $49.5 million. SolarBank also anticipates retaining a contract for the ongoing operations and maintenance of the projects after construction is completed.
Dr. Richard Lu, Chief Executive Officer of SolarBank, stated, “I am extremely pleased to have entered into this transaction with Qcells. Qcells is making a substantial investment in U.S. domestic manufacturing for solar panels and SolarBank is excited to be supporting them in developing these four projects using made in the USA equipment.”
Jin Han, Corporate Officer, Head of Distributed Energy at Qcells North America, mentioned, “At Qcells, we are dedicated to delivering clean, affordable energy solutions to communities nationwide and around the globe. With a commitment of nearly $2.8 billion, we are working hard to onshore production of the solar supply chain from ingots and wafers to cells and finished panels. Each step we take strengthens domestic solar manufacturing, drives the clean energy transition and brings us closer to a sustainable future for all.”
Once completed, these projects will operate as community solar initiatives. A community solar project consists of a shared group of solar panels connected to the local electricity grid. When these panels start producing electricity, the clean energy generated is supplied to the grid. Depending on the project’s size and the number of panels, it can help dozens or even hundreds of renters and homeowners save on their electricity bills.
By subscribing to such a project, homeowners receive credits on their monthly electric bills for their share of the solar energy produced, gaining the benefits of solar power without needing to install panels on their homes. Additionally, these projects are expected to qualify for incentives under the New York State Energy Research and Development Authority’s NY-Sun Program.
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