PowerBank's 5.7 MW New York Solar Project Advances with Interconnection Approval

PowerBank Corporation (NASDAQ: SUUN) announced that its 5.7 MW North Main St solar project in upstate New York has successfully completed its Coordinated Electric System Interconnection Review (CESIR) (https://ibn.fm/MqTpK), marking a significant technical milestone for the development. This review confirms that the project can safely connect to the local electric grid without adverse impacts, a prerequisite for advancing construction and operation.

The project is expected to qualify under New York's Value of Distributed Energy Resources (VDER) compensation mechanism, with a projected first-year average rate of $0.0971 per kWh. Once operational, the community solar initiative will generate enough energy to power the equivalent of 670 homes, supporting local renewable energy access and grid reliability. This development aligns with New York's ambitious climate targets, including the goal to achieve 6 GW of solar capacity by 2025 under the Climate Leadership and Community Protection Act.

PowerBank, a leading developer and owner of renewable energy projects across the U.S. and Canada, has built over 100 MW of projects and maintains a development pipeline exceeding 1 GW. The company's focus on distributed and community solar initiatives underscores the growing importance of localized renewable energy generation in transitioning to a cleaner grid. The completion of the interconnection study reduces development risks and enhances the project's viability, contributing to broader efforts to decarbonize the energy sector and meet state-mandated renewable energy standards.

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