PowerBank Secures Site Control for 2.8 MW Day Hollow Solar Project in New York

PowerBank Corporation (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: 103) has secured site control for its 2.8 MW Day Hollow ground-mount solar project in upstate New York, enabling the project to progress to the interconnection study phase. This development is crucial as it represents a tangible step forward in expanding renewable energy infrastructure in a state committed to aggressive climate targets. The project is expected to qualify under New York’s Value of Distributed Energy Resources (VDER) program at an estimated first-year average rate of US$0.0971/kWh, providing a competitive and sustainable energy pricing model that benefits both subscribers and the broader grid.

Designed as a community solar initiative, Day Hollow will allow renters, businesses, and homeowners to subscribe and receive bill credits without the need for on-site equipment, thereby democratizing access to solar energy and reducing barriers for those unable to install personal systems. This approach aligns with New York’s Climate Leadership and Community Protection Act target of achieving 6 GW of solar capacity by 2025, highlighting the project's role in supporting state-level policy objectives and accelerating the transition to a cleaner energy economy. The initiative not only contributes to environmental goals but also promotes energy equity by enabling broader participation in the renewable energy market.

The progression of the Day Hollow project underscores PowerBank's strategic focus on developing distributed and community solar projects across leading North American markets. As an independent renewable and clean energy project developer and owner, the company leverages a diverse portfolio that includes utilities, host off-takers, community solar, and virtual net metering projects to maximize returns and drive industry growth. With a potential development pipeline of over one gigawatt and experience in projects totaling over 100 megawatts, PowerBank's continued expansion reinforces the scalability and economic viability of renewable energy investments. For additional details on forward-looking statements and risks, refer to https://ibn.fm/DrOGN.

This announcement matters because it exemplifies how private sector initiatives are critical to meeting public energy and climate goals, fostering innovation in renewable infrastructure, and creating accessible models for consumer participation. The Day Hollow project's advancement signals progress toward a more resilient and sustainable energy system, with implications for job creation, energy affordability, and reduced carbon emissions in New York and beyond.