Curated News
By: NewsRamp Editorial Staff
September 08, 2025
PowerBank's NY Solar Project Clears Key Grid Milestone, Advances Development
TLDR
- PowerBank's 5.7 MW solar project offers investors a first-year average rate of $0.0971/kWh under New York's VDER compensation mechanism.
- The project completed its Coordinated Electric System Interconnection Review ensuring safe grid connection and will provide energy for 670 homes once operational.
- This community solar initiative supports New York's goal of 6 GW solar capacity by 2025 advancing clean energy and environmental protection.
- PowerBank has over 100 MW built and a 1 GW pipeline making it a major player in North American renewable energy development.
Impact - Why it Matters
This development matters because it represents tangible progress in the transition to renewable energy, directly benefiting local communities through cleaner power and potential cost savings. Community solar projects like this one democratize access to renewable energy, allowing residents who cannot install rooftop panels to participate in and benefit from solar generation. For investors and stakeholders, it signals PowerBank's execution capability and growth potential in a rapidly expanding market. Environmentally, it contributes to reducing carbon emissions and advancing state-level climate goals, making it a win for both the economy and the planet.
Summary
PowerBank Corporation (NASDAQ: SUUN, Cboe CA: SUNN, FSE: GY2), a premier developer and owner of renewable energy projects specializing in distributed and community solar initiatives across North America, has achieved a significant milestone with its 5.7 MW North Main St solar project in upstate New York. The project successfully completed its Coordinated Electric System Interconnection Review (CESIR), ensuring safe grid integration without adverse impacts—a critical step toward development. This community solar initiative is expected to qualify under New York's VDER compensation mechanism with a first-year average rate of $0.0971/kWh and will generate enough energy to power approximately 670 homes once operational.
The achievement underscores PowerBank's growing footprint in the renewable energy sector, with over 100 MW of projects already built and a development pipeline exceeding 1 GW. New York remains a central market for the company, aligning with the state's ambitious Climate Leadership and Community Protection Act, which targets 6 GW of solar capacity by 2025. This progress highlights the accelerating transition to clean energy and the vital role of distributed solar projects in meeting sustainability goals while providing affordable, renewable power to local communities.
Source Statement
This curated news summary relied on content disributed by NewMediaWire. Read the original source here, PowerBank's NY Solar Project Clears Key Grid Milestone, Advances Development
