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 New York's renewable energy infrastructure, supporting the state's Climate Leadership and Community Protection Act goal of 6 GW of solar by 2025. The community solar initiative will deliver clean energy to the local grid while enabling renters, businesses, and homeowners to subscribe for bill credits and savings, making renewable energy more accessible to diverse consumer groups.
Once permitted and financed, construction will begin on the project, which contributes to PowerBank's portfolio of over 100 MW of completed projects and a development pipeline exceeding 1 GW. The company's progress demonstrates the growing viability of distributed solar energy projects in meeting regional clean energy targets while providing economic benefits to local communities.
For additional details on forward-looking information, please refer to https://ibn.fm/pSPnr. The latest news and updates relating to SUUN are available in the company's newsroom at https://ibn.fm/SUUN.
