PowerBank Corporation released new details on its safe-harbored portfolio of 15 distributed solar and battery energy storage projects across New York, representing $168 million USD in construction value and $65 million USD in potential Investment Tax Credit eligibility. The company says the projects will support New York’s aggressive climate targets while delivering significant economic and environmental benefits to communities statewide.
The Toronto-based renewable energy developer, traded on NASDAQ as SUUN, confirmed that the portfolio includes approximately 67 MW DC of solar capacity and 11 MWh of battery storage. Together, the projects could generate enough clean energy to power the equivalent of 7,500 homes, underscoring PowerBank’s growing footprint in the distributed-generation sector.
PowerBank reported that 14 of the 15 projects have secured positive interconnection studies with local utilities—one of the most important milestones for distributed solar development. The company continues working through permitting and financing steps and said it remains on track to deliver Engineering, Procurement, and Construction (EPC) services on the full portfolio, whether or not it retains long-term ownership of each site.
The projects range widely in scale—from 500 kW DC to 7 MW DC for solar and 1.2 MWh to 8 MWh for storage—allowing the portfolio to support diverse local-grid needs. PowerBank noted that these sites are positioned to operate as either community solar or net-metered assets once complete.
Community solar projects allow residents, including renters and homeowners without rooftop systems, to subscribe to a share of a solar array. Subscribers then receive monthly bill credits based on the clean energy generated. PowerBank emphasized the affordability benefits of this structure: community solar “allows homeowners to realize a reduced cost per kW/hour from the power they consume versus standard utility rates.”
Net-metered installations, meanwhile, deliver power directly to an on-site customer. Any excess generation feeds back to the grid and is credited to the customer’s account.
The combined solar and battery portfolio supports broader statewide grid resiliency goals. Storage deployment—still emerging in many regions—provides crucial peak-shaving and backup capacity as New York continues transitioning away from fossil-based generation.
PowerBank highlighted its experience delivering over 100 MW of renewable projects to date, along with a development pipeline now exceeding 1 GW. With strategic financing partners and development alliances in place, the company says it is well positioned to deliver “reliable, high-impact renewable energy solutions” across North America.
.jpg)
These projects directly contribute to New York’s framework for rapidly scaling solar capacity—specifically its goal of reaching 10 GW of distributed solar and 6 GW of storage by 2030. New York remains the national leader in community solar and surpassed the 6 GW solar target set under the New York State Climate Act in late 2024.
The $168 million project slate will push the state closer to its 2030 goals while bringing local economic activity, construction work, and long-term grid modernization investments.
PowerBank reiterated the typical risks associated with solar and storage development, including permitting, interconnection, construction readiness, financing availability, and potential changes in state and federal incentive policy. The company emphasized that governments may “revise, reduce or eliminate incentives and policy support schemes for solar power,” which could impact project economics. As with all forward-looking statements, PowerBank noted that actual outcomes may differ based on market conditions, regulatory shifts, supply chain considerations, and financial arrangements.
Despite these uncertainties, PowerBank maintains confidence in its ability to execute. The company remains prepared to either retain ownership of the projects as part of its expanding Independent Power Producer portfolio or sell them to third-party investors while still providing EPC services.
Originally reported by Power Bank Corporation in PR News Wire.
.png)
