SolarBank sells four solar projects to Qcells for USD 49.5 million

SolarBank announces the sale of four solar projects to Qcells, accompanied by a construction contract. This strategic transaction highlights the political and economic dynamics surrounding solar energy and domestic manufacturing in the United States.

Share:

SolarBank Corporation (NASDAQ: SUUN) confirmed the sale of four solar projects located in New York State to Qcells, a subsidiary of Hanwha Solutions. These projects, with a combined capacity of 25.577 MW, will be constructed by SolarBank under an engineering, procurement, and construction (EPC) contract included in the transaction, valued at USD 49.5 million.

Transaction aligned with national priorities

This announcement aligns with the United States’ efforts to reduce reliance on foreign supply chains in the renewable energy sector. The modules used for these projects will be manufactured locally, reflecting industrial policy favoring strengthened domestic production.

Qcells’ investment, estimated at nearly USD 2.8 billion to support the solar supply chain in the United States, underscores a strategic shift in the solar industry. This project falls under national priorities aimed at securing critical supply chains and accelerating the energy transition.

Economic model and local prospects

The projects will be developed as community solar plants, allowing local subscribers, including individuals and businesses, to save on their energy bills without needing to install panels. This economic model supports energy inclusion policies and the adoption of low-carbon solutions in communities.

Additionally, the projects are expected to qualify for incentives from the New York State Energy Research and Development Authority (NYSERDA) through the NY-Sun program, a key mechanism for renewable energy development in the state.

Political and industrial impacts

This transaction highlights the growing interaction between U.S. energy policy and private initiatives. The partnership between SolarBank and Qcells reflects strategic alignment with government priorities aimed at onshoring solar equipment manufacturing. These initiatives seek to reduce vulnerabilities related to imports while boosting investment in the domestic industry.

The implementation of these projects will also generate local economic opportunities, creating jobs in construction and maintenance while strengthening regional energy autonomy.

  • Populaires ​
Renewable energy: access improving, but financing still insufficient for Africa
Enbridge Gas Ohio challenges tariff ruling cutting its revenues by $30mn
Natural hydrogen: France on the verge of redefining its national and European energy strategy
Iberdrola increases supplementary dividend by 16.5% to €0.409 per share
Iberdrola launches metocean studies for Australian offshore wind farm
BRICS: solar production exceeds 50% of global total in 2024
Emerging economies from the BRICS group now account for more than half of global solar electricity production in 2024, driven mainly by China, India, and Brazil, according to a new report by the organisation Ember.
Star Trade and Lightsource bp sign major solar agreement in Taiwan
Star Trade, a subsidiary of HD Renewable Energy, has signed a power purchase agreement with Lightsource bp to manage electricity distribution from a 115 MWp solar project located in Chiayi, strengthening their presence in the Taiwanese market.
TotalEnergies signs with Daehwa Pharmaceutical to install solar system in Korea
TotalEnergies will develop a 1.8 MW photovoltaic installation for Daehwa Pharmaceutical, covering approximately 20% of the annual energy requirements of the production site located in Hoengseong-gun, South Korea, under a 20-year agreement.
373 MW Cleve Hill Solar Park begins commercial operations in the United Kingdom
Quinbrook Infrastructure Partners announces full operational launch of Cleve Hill Solar Park, now becoming the largest active photovoltaic power plant in the United Kingdom with a total installed capacity reaching 373 MW.
BISOL adopts G12R solar cells to strengthen its European production
European photovoltaic module manufacturer BISOL is integrating G12R solar cells into its product range, replacing the former M10 cells, to improve product performance and technological competitiveness starting from the second quarter of 2025.
Adani Green surpasses 15,000 MW installed capacity and targets record growth
Adani Green Energy Limited becomes the first Indian company to achieve 15,539.9 MW of operational renewable capacity, cementing its position among the global top 10 independent green power producers.
Pronur launches operations in Saudi Arabia to strengthen renewable energy solutions
Italian group Pronur establishes itself in Saudi Arabia with support from AstroLabs, aiming to provide advanced technologies in the renewable energy sector and develop new industrial partnerships.
Ascent Solar Technologies secures $2mn public funding to strengthen cash position
Ascent Solar Technologies, Inc. announces the launch of a $2mn public offering to finance working capital, product development and general expenses.
Ardian acquires 117 solar power plants in Italy to strengthen its energy platform
Ardian Clean Energy Evergreen Fund takes control of 117 photovoltaic plants totalling 116 MW in Italy, further consolidating its presence in the country’s renewable energy sector.
Zelestra secures $282mn financing for hybrid solar and storage project in Chile
Zelestra has secured $282mn financing from Natixis CIB, BNP Paribas and BCI for its Aurora project, combining a 220 MWdc solar plant and 1 GWh storage capacity in the Tarapacá region, Chile.
Egypt launches $200mn industrial solar complex at Ain Sokhna
Egypt has been building an industrial photovoltaic solar complex in Ain Sokhna since June 19, aiming to stimulate strategic local production with a total investment of $200 million funded by the Chinese group Sunrev.
France: Générale du Solaire inaugurates 20 MWc floating solar plant in Alsace
Générale du Solaire has inaugurated in Leutenheim, Bas-Rhin, a floating photovoltaic plant of approximately 20 MWc installed on a former gravel pit, marking the region's first large-scale project supported by successful local participatory funding.
Plenitude and Modine launch 1.585 MWp solar power plant in Italy
Plenitude and Modine have signed an agreement to build a photovoltaic plant with an installed capacity of 1.585 MWp in Pocenia, designed to power thermal and refrigeration equipment at Modine’s Italian industrial site, without initial investment.
NamPower launches $90.3mn solar power plant to secure Namibian energy
Namibia begins construction of its largest solar plant, Sores|Gaib, aiming to reduce dependence on energy imports by leveraging its solar potential, considered among the highest globally according to the World Bank.
Bangladesh Mandates Solar Panels on Public Buildings to Secure Energy Supply
Bangladesh’s interim government has ordered mandatory deployment of solar systems on public building rooftops to reduce reliance on costly fossil fuel imports amid a fragile economic backdrop.
Global electricity access reaches 92%, 666 million people still excluded
The Energy Progress Report 2025 shows an improvement in global electricity access to 92%, but highlights that 666 million people remain without electricity, particularly due to insufficient international funding for rural areas.
Global solar panel recycling market to reach $548mn by 2030
Estimated at $384.4mn in 2025, the global photovoltaic panel recycling market is expected to grow annually by 7.4%, reaching $548mn in 2030, driven by the rapidly increasing number of installations reaching end-of-life.
Global photovoltaic market heading towards $968.32bn by 2030
Estimated at $613.57bn in 2025, the global photovoltaic market is expected to reach $968.32bn by 2030, driven by declining costs and growing demand from residential and utility sectors, according to a MarketsandMarkets analysis published on June 26.
Sasol and Akuo sign major solar energy supply agreement
Sasol International Chemicals concludes a virtual contract with Akuo to supply half of the electrical needs for its Lake Charles industrial complex in the United States, via a solar plant scheduled for 2026.
Eurowind Energy invests €174.8mn in major solar park in Romania
Eurowind Energy initiates a €174.8mn investment to build a 220 MW solar park in Vișina, Romania, capable of supplying around 150,000 households annually.

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

© XMARKET PUBLISHING

Welcome

Your subscription

Included in this subscription:

COMMUNICATE ON ENERGYNEWS