PowerBank Advances 5.7 MW Solar Project in New York Following Interconnection Review Completion
PowerBank Corporation's North Main St solar project in upstate New York has completed its interconnection review and will advance to permitting, supporting the state's renewable energy goals while providing bill credits to local subscribers.
PowerBank Corporation (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: 103) announced that its 5.7 MW North Main St ground-mount solar project in upstate New York has completed its Coordinated Electric System Interconnection Review and will now advance to site permitting. The project is expected to qualify for New York's Value of Distributed Energy Resources compensation mechanism with an estimated first-year average rate of US$0.0971/kWh.
Once permitted and financed, construction will begin on the community solar initiative, which will deliver clean energy to the local grid while enabling renters, businesses and homeowners to subscribe for bill credits and savings. The project supports New York's Climate Leadership and Community Protection Act goal of 6 GW of solar by 2025, representing a significant step toward the state's renewable energy targets.
PowerBank, with over 100 MW of completed projects and a development pipeline exceeding 1 GW, continues to expand its renewable energy portfolio across North America. The company develops solar and Battery Energy Storage System projects that sell electricity to utilities, commercial, industrial, municipal and residential off-takers. Additional information about the company's projects and developments can be found at https://ibn.fm/nrWvh.
The advancement of this solar project comes at a critical time as New York intensifies its efforts to transition to clean energy sources. Community solar initiatives like this one provide accessible renewable energy options for residents who cannot install solar panels on their own properties, including renters and those with unsuitable rooftops. The bill credit system allows subscribers to benefit from solar energy without the upfront costs of installation.
For investors seeking additional information about PowerBank Corporation and its developments, the company maintains a newsroom at https://ibn.fm/SUUN. The project's progression through the permitting phase represents an important milestone in New York's broader renewable energy infrastructure development, contributing to grid stability and environmental sustainability goals while creating local economic opportunities during the construction and operational phases.