09:29 AM EDT, 06/12/2024 (MT Newswires) -- SolarBank ( SUUN ) said Wednesday that it plans to develop a 6.41-megawatt ground-mount solar power project on a 17-acre parcel in Bloomfield, New York.

The community-solar development, known as the Rice Road project, should be qualified for incentives from the New York State Energy Research and Development Authority's NY-Sun program, the company said.

SolarBank ( SUUN ) said it has secured interconnection approval for the project and is seeking to secure the remaining permits and funds required to begin construction.

SolarBank ( SUUN ) shares were up 2.6% in recent Wednesday premarket activity.

Price: 6.04, Change: +0.15, Percent Change: +2.55