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PowerBank (Cboe CA: SUNN) updated development of the 2.6 MW Elmira ground-mount community solar project in Upstate New York, sized to power the equivalent of 325 homes. The Project has secured site plan approval, a special use permit, and received a negative declaration under SEQRA. Subject to receipt of financing, construction could begin before year-end. The Project is expected to be eligible for incentives under NYSERDA NY-Sun and will operate as a community solar array delivering bill credits to subscribers.
PowerBank cites a development track record of >100 MW completed and a >1 GW pipeline and warns the Project remains subject to permits, contracts, financing and policy risks.
