PowerBank Advances 2.8 MW Day Hollow Solar Project in New York with Site Control Achievement

PowerBank Corporation (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: 103) has achieved site control for its 2.8 MW Day Hollow ground-mount solar project located in upstate New York. This milestone allows the project to advance to the interconnection study phase, marking a significant step forward in its development timeline. The project is designed to qualify under New York's Value of Distributed Energy Resources (VDER) program, with an estimated first-year average rate of US$0.0971 per kilowatt-hour.

As a community solar initiative, the Day Hollow project will enable renters, businesses, and homeowners to subscribe and receive bill credits without requiring on-site equipment installation. This approach expands access to renewable energy benefits across diverse demographic groups, particularly those who may not own suitable property for solar panels. The project directly supports New York's Climate Leadership and Community Protection Act, which targets 6 gigawatts of solar capacity by 2025 as part of the state's broader clean energy transition.

The development aligns with PowerBank's focus on distributed and community solar projects across North America. The company develops solar and Battery Energy Storage System (BESS) projects that sell electricity to utilities, commercial, industrial, municipal, and residential off-takers. According to the company's information available at https://ibn.fm/xcmyM, PowerBank maintains a diverse portfolio across multiple markets including utility partnerships, host off-takers, community solar, and virtual net metering projects.

This project represents part of PowerBank's broader development strategy, which includes a potential pipeline exceeding one gigawatt of renewable energy capacity. The company has previously developed renewable and clean energy projects with a combined capacity of over 100 megawatts. The Day Hollow project's progression demonstrates the ongoing expansion of community solar options in New York, providing consumers with more choices for accessing clean energy while supporting grid stability and renewable energy integration.

The forward-looking statements contained in the original release, available at http://IBN.fm/Disclaimer, highlight that actual results may differ due to various risks and uncertainties. These include factors beyond management's control and the specific risks detailed in the company's SEC filings, particularly those discussed under the heading "Risk Factors" in its most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.