PowerBank Advances 2.6 MW Project in Upstate New York
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.
PowerBank (Cboe CA: SUNN) ha aggiornato lo sviluppo del progetto solare comunitario a montaggio a terra da 2,6 MW Elmira nell'Upstate di New York, dimensionato per fornire energia equivalente a 325 abitazioni. Il progetto ha ottenuto approvazione del piano di sito, un permesso di uso speciale, e ha ricevuto una dichiarazione negativa ai sensi di SEQRA. In attesa di reperire i finanziamenti, i lavori potrebbero iniziare prima della fine dell'anno. Si prevede che il progetto possa beneficiare degli incentivi sotto NYSERDA NY-Sun e opererà come un impianto solare comunitario che fornirà crediti in conto energia agli abbonati.
PowerBank cita una traccia di sviluppo di >100 MW completati e oltre >1 GW in pipeline e avverte che il progetto resta soggetto a permessi, contratti, finanziamenti e rischi politici.
PowerBank (Cboe CA: SUNN) actualizó el desarrollo del proyecto solar comunitario en tierra Elmira 2.6 MW en el norte del estado de Nueva York, dimensionado para abastecer al equivalente de 325 hogares. El proyecto ha obtenido aprobación del plan del sitio, un permiso de uso especial, y recibió una declaración negativa bajo SEQRA. Sujeto a la obtención de financiamiento, la construcción podría comenzar antes de fin de año. Se espera que el proyecto sea elegible para incentivos bajo NYSERDA NY-Sun y operará como un arreglo solar comunitario que brindará créditos en la factura a los suscriptores.
PowerBank cita un historial de desarrollo de >100 MW completados y una cartera de proyectos mayor a >1 GW, y advierte que el proyecto sigue sujeto a permisos, contratos, financiamiento y riesgos políticos.
PowerBank (Cboe CA: SUNN)가 뉴욕주 북부의 Elmira 2.6 MW 그라운드 마운트 커뮤니티 솔라 프로젝트 개발을 업데이트했으며, 325가구에 상응하는 전력 공급을 목표로 합니다. 이 프로젝트는 부지계획 승인, 특별사용허가를 확보했으며 SEQRA에 따른 부정 선언을 받았습니다. 자금 조달이 확보되면 올해 말 이전에 공사를 시작할 수 있습니다. 이 프로젝트는 NYSERDA NY-Sun의 인센티브 대상이 될 것으로 예상되며 구독자에게 청구서 크레딧을 제공하는 커뮤니티 솔라 어레이로 운영될 것입니다.
PowerBank는 >100 MW의 완공 실적과 >1 GW의 파이프라인을 제시하며, 프로젝트는 여전히 허가, 계약, 재정 및 정책 리스크에 노출되어 있다고 경고합니다.
PowerBank (Cboe CA: SUNN) a mis à jour le développement du projet solaire communautaire au sol Elmira 2,6 MW dans le nord de l'État de New York, dimensionné pour alimenter l'équivalent de 325 ménages. Le projet a obtenu l'approbation du plan du site, un permis d’usage spécial, et a reçu une déclaration négative en vertu de SEQRA. Sous réserve de financement, la construction pourrait commencer d’ici la fin de l’année. Le projet devrait être éligible aux incitations sous NYSERDA NY-Sun et fonctionnera comme une installation solaire communautaire fournissant des crédits de facture aux abonnés.
PowerBank cite un historique de développement de >100 MW achevés et >1 GW de pipeline et avertit que le projet reste soumis à des permis, contrats, financement et risques liés à la politique.
PowerBank (Cboe CA: SUNN) hat die Entwicklung des 2,6 MW Elmira Erdboden-Community-Solaranlage in Upstate New York aktualisiert, dimensioniert, um Energie im Äquivalent von 325 Haushalten zu liefern. Das Projekt hat eine Standortplan-Bewilligung, eine Sondernutzungsgenehmigung erhalten und eine negative SEQRA-Erklärung bekommen. Vorbehaltlich der Finanzierung könnte der Bau noch in diesem Jahr beginnen. Es wird erwartet, dass das Projekt für Anreize unter NYSERDA NY-Sun berechtigt ist und als Community-Solar-Array betrieben wird, das Abonnenten Guthaben auf ihren Rechnungen bietet.
PowerBank verweist auf eine Entwicklungserfahrung von >100 MW abgeschlossen und >1 GW Pipeline und warnt, dass das Projekt weiterhin Genehmigungen, Verträge, Finanzierung und politische Risiken birgt.
PowerBank (Cboe CA: SUNN) حدّث تطوير مشروع الطاقة الشمسية المجتمعية على الأرض Elmira 2.6 MW في شمال نيويورك، مصمَّم لتوفير الطاقة المقابلة لـ 325 منزلًا. وقد حصل المشروع على مصادقة خطة الموقع، وتصريح استخدام خاص، ولقى إعلانًا سلبيًا بموجب SEQRA. رهناً بتأمين التمويل، قد يبدأ البناء قبل نهاية السنة. من المتوقع أن يكون المشروع مؤهلاً للحصول على حوافز ضمن NYSERDA NY-Sun وسيعمل كمجموعة طاقات شمسية مجتمعية توفّر اعتمادات الفواتير للمشتركين.
تشير PowerBank إلى سجل تطوير يتجاوز 100 MW مكتملة ومساراً يفوق 1 GW في خط الأنابيب وتحذر من أن المشروع يظل خاضعًا لتراخيص وعقود وتمويل ومخاطر سياسات.
PowerBank (Cboe CA: SUNN) 更新了位于纽约州北部的地面安装型社区太阳能项目 Elmira 2.6 MW 的开发，规模可为相当于 325户家庭 的用电提供电力。该项目已获得 场地平面布置批准、特殊用途许可，并收到了一个 SEQRA 下的否定声明。在获得融资的前提下，施工可能在今年底前开始。预计该项目将有资格获得 NYSERDA NY-Sun 的激励，并将作为一个社区太阳能阵列向订阅者提供账单抵免。
PowerBank 引用已完成 >100 MW 的开发记录和 >1 GW 的管道，并警告该项目仍然受许可、合同、融资和政策风险影响。
- 2.6 MW Elmira community solar project
- Secured site plan approval and special use permit
- Received negative declaration under SEQRA
- Potential eligibility for NYSERDA NY-Sun incentives
- Supports 325 homes equivalent clean energy output
- Development track record: >100 MW completed; >1 GW pipeline
- Construction contingent on receipt of financing
- Project requires a community solar contract and remaining permits
- Exposed to construction and third-party financing risks
- Risk of policy/incentive changes that could affect economics
Insights
PowerBank advances a 2.6 MW community solar project in Upstate New York; construction hinges on financing and final permits.
PowerBank has moved the Elmira Project through municipal approvals including a site plan and special use permit, and it received a negative declaration under the State environmental quality review act. The project is sized at 2.6 MW and is described as able to begin construction before the end of
Key dependencies include securing a community solar contract, third‑party financing, and any remaining permits; construction risk and future changes to incentive programs are explicitly noted. These dependencies materially affect timing and economics; the announcement therefore documents meaningful development progress but does not confirm revenue, a power contract, or financing.
Watch for three concrete milestones: receipt of a community solar contract, final financing closing, and a construction start before the end of
Project to Power Equivalent of 325 Homes
Once completed, the Project will be operated as a community solar project. Community solar is a group of solar panels with access to the local electricity grid. Once the panels are turned on and generating electricity, clean energy from the site feeds into the local power grid. Depending on the size and number of panels the project has, dozens or even hundreds of renters and homeowners can save money from the electricity that is generated by the project. By subscribing to a project, a homeowner earns credits on their electric bill every month from their portion of the solar that's generated by the project, accessing the benefits of solar without installing panels on their home. This allows homeowners to realize a reduced cost per kW/hour from the power they consume versus standard utility rates.
PowerBank's proven expertise, with over 100 MW of completed projects and a development pipeline exceeding 1 GW, underpins the project's execution. Strategic partnerships and institutional-grade development capabilities position PowerBank to deliver reliable, high-impact renewable energy solutions.
The Elmira Project advances
There are several risks associated with the development of the Project. The development of any project is subject to receipt of a community solar contract, receipt of required permits, the availability of third-party financing arrangements for the Company and the risks associated with the construction of a solar power project. In addition, governments may revise, reduce or eliminate incentives and policy support schemes for solar power, which could result in future projects no longer being economic. Please refer to "Forward-Looking Statements" for additional discussion of the assumptions and risk factors associated with the Project and statements made in this press release.
About PowerBank Corporation
PowerBank Corporation is an independent renewable and clean energy project developer and owner focusing on distributed and community solar projects in
FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively, "forward-looking statements") that relate to the Company's current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as "will likely result", "are expected to", "expects", "will continue", "is anticipated", "anticipates", "believes", "estimated", "intends", "plans", "forecast", "projection", "strategy", "objective" and "outlook") are not historical facts and may be forward-looking statements and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward-looking statements. In particular and without limitation, this news release contains forward-looking statements pertaining to the Company's expectations regarding its industry trends and overall market growth; the Company's growth strategies the expected energy production from the solar power projects mentioned in this press release; the number of homes expected to be powered; the timeline for construction; the expected savings for local residents; the receipt of financing to be able to construct the Project; the receipt of incentives for the Project; and the size of the Company's development pipeline. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release.
Forward-looking statements are based on certain assumptions and analyses made by the Company in light of the experience and perception of historical trends, current conditions and expected future developments and other factors it believes are appropriate, and are subject to risks and uncertainties. In making the forward looking statements included in this news release, the Company has made various material assumptions, including but not limited to: obtaining the necessary regulatory approvals; that regulatory requirements will be maintained; general business and economic conditions; the Company's ability to successfully execute its plans and intentions; the availability of financing on reasonable terms; the Company's ability to attract and retain skilled staff; market competition; the products and services offered by the Company's competitors; that the Company's current good relationships with its service providers and other third parties will be maintained; and government subsidies and funding for renewable energy will continue as currently contemplated. Although the Company believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect, and the Company cannot assure that actual results will be consistent with these forward-looking statements. Given these risks, uncertainties and assumptions, investors should not place undue reliance on these forward-looking statements.
Whether actual results, performance or achievements will conform to the Company's expectations and predictions is subject to a number of known and unknown risks, uncertainties, assumptions and other factors, including those listed under "Forward-Looking Statements" and "Risk Factors" in the Company's most recently completed Annual Information Form, and other public filings of the Company, which include: the Company may be adversely affected by volatile solar power market and industry conditions; the execution of the Company's growth strategy depends upon the continued availability of third-party financing arrangements; the Company's future success depends partly on its ability to expand the pipeline of its energy business in several key markets; governments may revise, reduce or eliminate incentives and policy support schemes for solar and battery storage power; general global economic conditions may have an adverse impact on our operating performance and results of operations; the Company's project development and construction activities may not be successful; developing and operating solar Project exposes the Company to various risks; the Company faces a number of risks involving Power Purchase Agreements ("PPAs") and project-level financing arrangements; any changes to the laws, regulations and policies that the Company is subject to may present technical, regulatory and economic barriers to the purchase and use of solar power; the markets in which the Company competes are highly competitive and evolving quickly; an anti-circumvention investigation could adversely affect the Company by potentially raising the prices of key supplies for the construction of solar power projects; foreign exchange rate fluctuations; a change in the Company's effective tax rate can have a significant adverse impact on its business; seasonal variations in demand linked to construction cycles and weather conditions may influence the Company's results of operations; the Company may be unable to generate sufficient cash flows or have access to external financing; the Company may incur substantial additional indebtedness in the future; the Company is subject to risks from supply chain issues; risks related to inflation and tariffs; unexpected warranty expenses that may not be adequately covered by the Company's insurance policies; if the Company is unable to attract and retain key personnel, it may not be able to compete effectively in the renewable energy market; there are a limited number of purchasers of utility-scale quantities of electricity; compliance with environmental laws and regulations can be expensive; corporate responsibility may adversely impose additional costs; the future impact of any global pandemic on the Company is unknown at this time; the Company has limited insurance coverage; the Company will be reliant on information technology systems and may be subject to damaging cyberattacks; the Company may become subject to litigation; there is no guarantee on how the Company will use its available funds; the Company will continue to sell securities for cash to fund operations, capital expansion, mergers and acquisitions that will dilute the current shareholders; and future dilution as a result of financings.
The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for the Company to predict all of them, or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.
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SOURCE PowerBank Corporation
FAQ
What is PowerBank announcing for the Elmira project (SUNN) on October 28, 2025?
Has the Elmira project (SUNN) received permits and environmental clearance?
When could construction of the SUNN Elmira project begin?
Will the Elmira project (SUNN) qualify for New York incentives?
How many homes will the SUNN Elmira project power?
What are the main risks for the Elmira project mentioned by PowerBank (SUNN)?
