SolarBank Sells New York Solar Projects to Qcells

Published: Jan 10, 2025 14:39

Source: SMM

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SolarBank Corporation has sold four solar power projects in upstate New York, totaling 25.577 MW, to global renewable energy leader Qcells, a subsidiary of South Korea's Hanwha Solutions.

SolarBank Corporation has sold four solar power projects in upstate New York, totaling 25.577 MW, to global renewable energy leader Qcells, a subsidiary of South Korea's Hanwha Solutions. These projects—Gainesville, Hardie, Rice Road, and Hwy 28—are being developed through engineering, procurement, and construction agreements handled by SolarBank, with the transaction valued at $49.5 million.

Qcells is investing heavily in U.S. solar manufacturing, aiming to strengthen the domestic solar supply chain. This aligns with the company's commitment of nearly $2.8 billion towards onshoring production from ingots to finished panels, enhancing the clean energy landscape.

Upon completion, the projects will serve communities as shared solar panel initiatives. These community solar projects will provide clean energy to the electricity grid, allowing numerous local renters and homeowners to reduce their electricity costs.

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