From Waste to Watts: SolarBank and Viridi Intend to Transform a Landfill Into a Solar Powerhouse with Battery Storage
Disseminated on behalf of SolarBank Corporation.
SolarBank Corporation (NASDAQ: SUUN; Cboe CA: SUNN, FSE: GY2) teamed up with Viridi to build a 3.06 megawatt (MW) ground-mounted solar project. This project will also include a 1.2 megawatt-hour (MWh) battery energy storage system (BESS) in Buffalo, New York. This initiative plans to turn a closed landfill into a useful asset, providing clean energy to the local community.
Project Overview
- Location: Buffalo, New York
- Solar Capacity: 3.06 MW (DC)
- Battery Storage: 1.2 MWh
- Site: Repurposed closed landfill
In this collaboration, SolarBank will own the project, while Viridi will supply the battery storage system. The company has secured a lease for the site. It is now getting interconnection approval. Once the company gets the permits and funding, construction will start. The facility will then work as a community solar project.
Power Packed: Viridi’s Cutting-Edge Battery Solutions
Viridi equips its lithium-ion battery packs with integrated fire suppression and anti-propagation technology, adhering to stringent safety standards. Viridi’s design is different from traditional methods. It isolates each battery cell. This prevents thermal runaway. So, if one cell fails, it won’t cause bigger problems. Viridi is backed by a tier 1 management team, including the former Global Chairman of Investment Banking from JP Morgan.
Shared Sunshine: Empowering the Community with Solar
Community solar projects allow multiple participants to benefit from a single solar installation. Subscribers get credits on their electricity bills for their share of solar power. This lets them use renewable energy without needing their own installations.
Recently, SolarBank advanced two community solar projects in Skaneateles, New York, totaling 14.4 MW DC to power about 2,100 homes. The projects have completed the Coordinated Electric System Interconnection Review (CESIR) and are now proceeding with permitting.
The company aims to qualify for incentives under the NYSERDA NY-Sun Program. Once operational, these installations will supply clean energy to the local grid, offering residents access to renewable power without installing personal solar panels.
Storing the Sun: The Crucial Role of Battery Storage
Battery storage plays an important role in the energy transition. It helps integrate renewable sources, such as solar and wind, which can be unpredictable. Without effective storage, surplus energy can go unused, and grid operators may struggle to balance supply and demand. BESS technology solves these problems. It captures and stores electricity for later use, boosting efficiency and reliability.
The Growing BESS Market
The global Battery Energy Storage System market is growing fast. This rise comes from new technology and more use of renewable energy. In 2024, the market was valued at around $7.8 billion and is projected to reach $25.6 billion by 2029, growing at an annual rate of 26.9%.
In 2024, global BESS installations hit 205 GWh. This marks a 53% increase from the previous year, exceeding expectations. The grid-scale sector led this growth with 160 GWh deployed, 98% of which utilized lithium-ion technology.
Notably, 17 projects exceeding 1 GWh became operational in 2024, up from four in 2023. It shows there’s a strong pipeline for large projects. LFP batteries stay on top of the market because they are cheaper and have better technology.
- Looking ahead, over 400 GWh of grid projects are in the pipeline for 2025, though at least 30% may face delays or cancellations.
One of the key factors supporting this expansion is the significant cost reduction in battery systems. Over the past two years, solar module prices have decreased by 66%, while battery system prices have dropped by 58% in the last year.
Cost cuts have made renewable energy projects cheaper. This change encourages more investment in energy storage solutions.
Regional Expansion and Market Trends
Countries around the world are boosting their battery storage capacity. This helps them meet renewable energy goals.
China led the market with 67% of global BESS deployments. This was due to provincial mandates and falling battery costs. The U.S. and Canada followed, installing nearly 40 GWh, with California contributing half of this capacity.
Meanwhile, Europe’s battery storage market could exceed 50 GW by 2030, with an estimated €80 billion in investments supporting this expansion.
In the United States, battery storage capacity hit about 24 gigawatt-hours (GWh) in 2024. This is a 71% rise from the year before. Utility-scale battery capacity has seen rapid growth in the country, with over 20 gigawatts (GW) added in the past 4 years—equivalent to the capacity of 20 nuclear reactors.
This capacity may double to 40 GW by 2025. This shows how important battery storage is for a stronger grid and more renewable energy use.
These developments underscore the critical role of BESS in stabilizing the grid, reducing reliance on fossil fuels, and ensuring a consistent supply of renewable energy. SolarBank’s latest transaction positions the company at the forefront of this rapidly evolving battery storage market.
Bright Horizons: SolarBank’s Strategic Expansion
The Viridi BESS project aligns with SolarBank’s strategy to expand its portfolio of renewable energy assets across North America. The company plans to improve the reliability and efficiency of its solar systems. It will do this by using advanced battery storage solutions. This way, they can offer sustainable energy to different communities.
- As of February 20, 2025, SolarBank’s stock is trading at US$ 4.02, reflecting the market’s response to the company’s ongoing initiatives in the renewable energy sector.
With its expansion into battery storage, SolarBank is proactively addressing one of the biggest challenges in renewable energy—energy intermittency. By combining solar power with advanced storage solutions, the company is strengthening the foundation for a cleaner, more reliable energy system.
SolarBank is investing in BESS as demand for sustainable energy grows. This move will boost growth, attract new partnerships, and strengthen its leadership in renewable energy.
SolarBank’s partnership with Viridi shows its dedication to new renewable energy solutions. This effort helps in the larger goal of moving to a sustainable, low-carbon energy system. By repurposing a closed landfill into a productive solar and battery storage facility, the project not only provides clean energy to the Buffalo community but also sets a precedent.
This article contains forward-looking information. Please refer to the SolarBank press release entitled “SolarBank Partners with Viridi on Combined 3.06 MW Solar and 1.2 MWH Battery Energy Storage Project Located in Buffalo, New York.”
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