Project to Power Equivalent of 800 Homes
PowerBank Corporation (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: 103), a leading name in North American energy infrastructure development, has announced the launch of its latest renewable energy initiative: a 6.9 MW DC ground-mount solar power project, known as the NY-Crawford Rd project. Located in New York’s Capital District, this ambitious project is set to contribute to the state’s renewable energy goals and is expected to qualify for incentives under the New York State Energy Research and Development Authority (NYSERDA) NY-Sun Program.
The project is currently in its early stages, with PowerBank submitting the interconnection application and conducting preliminary screening analysis. Upon receiving interconnection approval, the company will proceed with permitting and securing financing to bring the project to life.
Once operational, the NY-Crawford Rd project will function as a community solar initiative. Community solar projects allow local residents, including renters and homeowners, to benefit from clean energy without the need to install solar panels on their properties. By subscribing to the project, participants will receive credits on their electricity bills, reducing their energy costs compared to standard utility rates. This model not only promotes accessibility to renewable energy but also supports the local power grid with clean, sustainable electricity.
PowerBank’s extensive experience in renewable energy development, with over 100 MW of completed projects and a development pipeline exceeding 1 GW, ensures the successful execution of this initiative. The company’s strategic partnerships and institutional-grade capabilities further solidify its position as a leader in delivering impactful renewable energy solutions.
The NY-Crawford Rd project aligns with New York’s Climate Leadership and Community Protection Act, which aims to achieve 6 GW of solar capacity by 2025. As a national leader in community solar, New York currently accounts for nearly one-third of the United States’ 6.2 GW of installed solar capacity. PowerBank is proud to contribute to this transformative milestone in the state’s renewable energy journey.
While the project holds significant promise, it is not without risks. Development hinges on securing a community solar contract, interconnection approval, necessary permits, and third-party financing. Additionally, changes in government incentives or policy support for solar power could impact the project’s economic viability. For more details on associated risks, refer to the “Forward-Looking Statements” section of PowerBank’s press release.
About PowerBank Corporation
PowerBank Corporation is a prominent developer and owner of renewable and clean energy projects, specializing in distributed and community solar initiatives across Canada and the United States. The company’s portfolio includes solar and Battery Energy Storage System (BESS) projects that supply electricity to utilities, commercial, industrial, municipal, and residential customers. With a development pipeline exceeding 1 GW and over 100 MW of completed projects, PowerBank continues to drive innovation and sustainability in North America’s energy landscape.
For more information, visit www.powerbankcorp.com.
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