08:47 AM EDT, 08/28/2025 (MT Newswires) -- Solarbank (SUUN) said Thursday its 3.16 MW ground-mounted solar project in Honesdale, Pennsylvania, has secured site control, allowing it to proceed to the interconnection study phase.

The company said the project could supply clean energy credits to dozens or even hundreds of local renters and homeowners, helping lower their electricity bills.

Solarbank said the development hinges on the final approval of House Bill 1842, which would legalize community solar programs in Pennsylvania.

The bill, first passed by the House in 2024 and again in 2025 with amendments, is currently under Senate review, it added.

Shares of the company were up 7.6% in Thursday's premarket activity.