PowerBank Corporation (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: 103), a North American energy infrastructure developer and asset owner, announced it has executed a lease agreement for its 6.9 MW DC NY-Crawford Rd ground-mount solar project in New York’s Capital District. The project is expected to qualify for incentives under NYSERDA’s NY-Sun Program and will deliver clean, cost-saving power to local residents through a community solar model.
PowerBank is advancing interconnection and permitting steps while securing project financing. The company leverages its track record of over 100 MW of completed solar projects and a 1 GW development pipeline to support New York’s goal of 6 GW of solar capacity under the state’s Climate Leadership and Community Protection Act.
The announcement underscores PowerBank's commitment to expanding renewable energy access in New York. Community solar projects allow multiple subscribers to benefit from a single solar installation, often reducing electricity bills without requiring rooftop panels. This model is particularly important for renters, low-income households, and those with unsuitable roofs.
PowerBank's development pipeline of over one gigawatt positions it to play a significant role in New York's clean energy transition. The company develops solar and Battery Energy Storage System (BESS) projects that sell electricity to utilities, commercial, industrial, municipal, and residential off-takers. Its diverse portfolio includes projects with utilities, host off-takers, community solar, and virtual net metering projects.
The NY-Crawford Rd project is a key part of PowerBank's strategy to capitalize on growing demand for renewable energy. As states like New York push for aggressive climate targets, developers with proven execution capabilities are well-positioned. PowerBank's successful lease execution highlights its ability to secure prime sites and navigate regulatory frameworks.
For more information about PowerBank, visit www.powerbankcorp.com. To view the full press release, visit https://ibn.fm/RAVhE. This report contains forward-looking information; please refer to https://ibn.fm/OJgw0 for additional details.
