PowerBank Advances 6.9 MW Community Solar Project in New York's Capital District
PowerBank Corporation has secured a lease agreement for a 6.9 MW community solar project in New York's Capital District, advancing the state's renewable energy goals while providing cost-saving clean power to local residents.
PowerBank Corporation (NASDAQ: SUUN) has executed a lease agreement for its 6.9 MW DC NY-Crawford Rd ground-mount solar project located 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 electricity to local residents through a community solar model. This development represents another step forward in New York's ambitious renewable energy targets under the state's Climate Leadership and Community Protection Act, which aims for 6 GW of solar capacity statewide.
The company is currently advancing interconnection and permitting processes while securing project financing for the Crawford Road development. PowerBank brings significant experience to this project, having developed over 100 MW of completed solar projects and maintaining a 1 GW development pipeline across North America. This track record positions the company to effectively contribute to New York's renewable energy infrastructure while supporting the state's climate goals.
Community solar projects like NY-Crawford Rd enable residents who cannot install solar panels on their own properties to benefit from renewable energy through subscription models. This approach expands access to clean power while providing cost savings to participants. The project's location in the Capital District will serve local communities with renewable electricity while supporting regional economic development through job creation and local investment.
PowerBank's development strategy focuses on distributed and community solar projects across multiple North American markets, including utilities, commercial, industrial, municipal, and residential off-takers. The company's diverse portfolio approach helps maximize returns while supporting the transition to cleaner energy sources. Additional information about the project can be found at https://ibn.fm/RAVhE, while corporate details are available at https://www.powerbankcorp.com.
Forward-looking statements in the announcement highlight the project's potential while acknowledging various risk factors that could affect actual outcomes. Investors are directed to review comprehensive risk disclosures at https://ibn.fm/OJgw0 and general disclaimers at http://IBN.fm/Disclaimer for complete understanding of the project's prospects and associated uncertainties.