PowerBank Corporation Advances New York Community Solar Project with Site Control Milestone

PowerBank Corporation has achieved site control for its 2.8 MW Day Hollow ground-mount solar project in upstate New York, representing a critical milestone that allows the project to advance to the interconnection study phase. This development moves the community solar initiative significantly closer to becoming operational, demonstrating tangible progress in New York's renewable energy landscape. The project is anticipated to qualify under New York's Value of Distributed Energy Resources program at an estimated first-year average rate of US$0.0971/kWh, providing financial viability while supporting clean energy adoption.

As a community solar project, Day Hollow will enable renters, businesses, and homeowners to subscribe and receive bill credits without requiring on-site equipment installation. This model expands solar energy access beyond traditional rooftop installations, addressing a significant barrier for those unable to install panels on their properties. The initiative directly contributes to New York's Climate Leadership and Community Protection Act target of achieving 6 GW of solar capacity by 2025, representing a meaningful step toward the state's ambitious renewable energy objectives.

The project advancement reflects PowerBank's broader strategy to develop distributed and community solar projects across North America, focusing on markets with supportive regulatory frameworks and renewable energy incentives. As an independent renewable and clean energy project developer and owner, PowerBank maintains a diverse portfolio including solar and Battery Energy Storage System projects, selling electricity to utilities, commercial, industrial, municipal, and residential off-takers. Additional information about forward-looking statements and risk factors can be found at https://ibn.fm/DrOGN.

Day Hollow's progression illustrates the growing importance of community solar initiatives in expanding renewable energy access while supporting grid stability. By allowing subscribers to benefit from solar energy without property-based installations, this approach democratizes clean energy participation and accelerates adoption beyond traditional models. The project's development within New York's supportive regulatory environment demonstrates how policy frameworks can effectively drive renewable energy infrastructure growth while creating accessible options for diverse energy consumers across residential and commercial sectors.