PowerBank Corporation Advances 5.7 MW Solar Project in New York Following Interconnection Review Completion

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. This development represents a significant step forward in the state's renewable energy infrastructure and supports New York's Climate Leadership and Community Protection Act goal of achieving 6 GW of solar capacity by 2025.

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's advancement through the interconnection review process demonstrates the viability of distributed solar energy in meeting regional power needs while contributing to environmental sustainability goals. PowerBank, with over 100 MW of completed projects and a development pipeline exceeding 1 GW, continues to expand its footprint in the renewable energy sector across North America.

The North Main St project exemplifies the growing trend of community solar initiatives that provide access to renewable energy for diverse customer segments, including those who cannot install solar panels on their own properties. By offering subscription-based access to clean energy, the project addresses energy equity concerns while supporting grid reliability and reducing carbon emissions. The estimated compensation rate of US$0.0971/kWh under New York's Value of Distributed Energy Resources mechanism provides competitive returns while ensuring affordable clean energy access for subscribers.

This project development aligns with broader energy transition trends and state-level policies promoting renewable energy adoption. The successful completion of the interconnection review process, as detailed in the company's announcement available at https://ibn.fm/nrWvh, marks a critical milestone in the project timeline. As PowerBank continues to develop solar and battery energy storage system projects across multiple North American markets, the North Main St initiative demonstrates the company's commitment to expanding renewable energy infrastructure while creating economic and environmental benefits for local communities.