PowerBank Corporation Advances 5.7 MW Solar Project in New York Following CESIR Completion
TL;DR
PowerBank's New York solar project offers investors exposure to renewable energy growth with a projected first-year rate of $0.0971/kWh under state incentives.
The 5.7 MW solar project completed interconnection review and advances to permitting, utilizing New York's Value of Distributed Energy Resources compensation mechanism.
This community solar initiative provides clean energy to the grid while enabling renters and homeowners to access bill credits and savings.
PowerBank develops solar projects exceeding 1 GW capacity, supporting New York's goal of 6 GW solar by 2025 through distributed energy solutions.
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PowerBank Corporation (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: 103), a North American energy infrastructure developer and asset owner, announced the completion of the Coordinated Electric System Interconnection Review for its 5.7 MW North Main St ground-mount solar project in upstate New York. The project will now advance to site permitting, marking a significant milestone in its development timeline.
The solar initiative 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. This compensation structure ensures competitive returns while supporting the state's renewable energy objectives. Once permitted and financed, construction will commence on the community solar project, which will deliver clean energy to the local grid while enabling renters, businesses, and homeowners to subscribe for bill credits and savings.
The project directly supports New York's Climate Leadership and Community Protection Act goal of achieving 6 GW of solar capacity by 2025. PowerBank, with over 100 MW of completed projects and a development pipeline exceeding 1 GW, brings substantial expertise to this initiative. The company's track record in renewable energy development positions it well to execute this project efficiently and effectively.
For additional information about PowerBank Corporation, visit https://www.powerbankcorp.com. The latest news and updates relating to SUUN are available in the company's newsroom at https://ibn.fm/SUUN. Forward-looking information contained in this report can be reviewed at https://ibn.fm/pSPnr.
The advancement of this solar project represents a meaningful contribution to New York's renewable energy infrastructure and demonstrates the growing viability of community solar initiatives. By providing access to clean energy and potential cost savings for a diverse range of subscribers, including those who cannot install solar panels on their own properties, the project addresses both environmental and economic considerations in the transition to sustainable energy sources.
Curated from InvestorBrandNetwork (IBN)
