PowerBank Corporation has executed a lease agreement for its 6.9 MW DC NY-Crawford Rd ground-mount solar project located in New York's Capital District. The project is expected to qualify for incentives under NYSERDA's NY-Sun Program and will deliver clean, cost-saving power to local residents through a community solar model. This project directly supports New York's ambitious 6 GW solar capacity goal established under the state's Climate Leadership and Community Protection Act, representing a significant step toward meeting the state's renewable energy targets.
The company is currently advancing interconnection and permitting steps while securing project financing for the development. PowerBank brings substantial experience to this initiative, having completed over 100 MW of solar projects and maintaining a 1 GW development pipeline. This experience positions the company to effectively navigate the complex regulatory and development landscape of New York's renewable energy market, which has become increasingly competitive as the state works to meet its climate goals.
Community solar projects like NY-Crawford Rd enable residents who cannot install solar panels on their own properties to benefit from renewable energy through subscription models. This approach expands access to clean energy while providing financial savings to participants who receive credits on their electricity bills. The community solar model addresses a critical barrier to renewable energy adoption by allowing renters, homeowners with unsuitable roofs, and those who cannot afford upfront installation costs to participate in the clean energy transition.
PowerBank's development strategy leverages its diverse portfolio across multiple North American markets, including projects with utilities, host off-takers, community solar, and virtual net metering arrangements. The company's track record of completed projects demonstrates its capability to execute complex solar developments in regulated markets like New York. For additional information about the company's operations and project portfolio, visit www.powerbankcorp.com. Detailed information about forward-looking statements and risk factors can be found at https://ibn.fm/OJgw0 and comprehensive terms of use are available at http://IBN.fm/Disclaimer.
The NY-Crawford Rd project represents a meaningful contribution to New York's renewable energy infrastructure at a time when states are accelerating their transition away from fossil fuels. As climate change concerns grow and electricity costs remain volatile, community solar projects offer a practical solution that benefits both the environment and consumers. PowerBank's entry into this market segment demonstrates the growing maturity of the solar industry and the increasing sophistication of development models that can serve diverse customer needs while supporting broader policy objectives.
