PowerBank Advances 14.4 MW Projects in Skaneateles, New York
PowerBank (NASDAQ: SUUN) has announced progress on two community solar projects in Skaneateles, New York, with a combined capacity of 14.4 MW. The projects, located on industrial brownfield sites, have secured all required municipal approvals including variances, site plan approval, and special use permit.
The projects will provide clean energy to approximately 2,100 homes through a community solar model, where subscribers earn credits on their electric bills from the solar power generated. PowerBank brings significant expertise with over 100 MW of completed projects and a 1 GW+ development pipeline.
These developments support New York's Climate Leadership and Community Protection Act goal of achieving 6 GW of solar capacity by 2025, with New York currently representing nearly one-third of the United States' 6.2 GW installed solar capacity.
PowerBank (NASDAQ: SUUN) ha reso noto i progressi su due progetti di comunità solare a Skaneateles, New York, per una capacità complessiva di 14,4 MW. I siti, ricadenti su ex aree industriali contaminate (brownfield), hanno ottenuto tutte le autorizzazioni comunali necessarie, incluse deroghe, approvazione del piano urbanistico e permesso per uso speciale.
I progetti forniranno energia pulita a circa 2.100 famiglie attraverso un modello di comunità solare, in cui gli abbonati ricevono crediti in bolletta per l’energia prodotta. PowerBank vanta una solida esperienza con oltre 100 MW di progetti completati e un portafoglio di sviluppo superiore a 1 GW.
Queste iniziative sostengono l’obiettivo del Climate Leadership and Community Protection Act di New York di raggiungere 6 GW di capacità solare entro il 2025; attualmente lo stato rappresenta quasi un terzo dei 6,2 GW di capacità solare installata negli Stati Uniti.
PowerBank (NASDAQ: SUUN) ha anunciado avances en dos proyectos de energía solar comunitaria en Skaneateles, Nueva York, con una capacidad combinada de 14,4 MW. Los proyectos, ubicados en terrenos industriales reconvertidos (brownfield), han obtenido todas las aprobaciones municipales necesarias, incluidas excepciones, aprobación del plan de emplazamiento y permiso de uso especial.
Los proyectos proporcionarán energía limpia a aproximadamente 2.100 hogares mediante un modelo de energía solar comunitaria, donde los suscriptores reciben créditos en su factura eléctrica por la energía generada. PowerBank aporta una amplia experiencia con más de 100 MW completados y una cartera de desarrollo superior a 1 GW.
Estas iniciativas respaldan la meta del Climate Leadership and Community Protection Act de Nueva York de alcanzar 6 GW de capacidad solar para 2025, y actualmente el estado representa casi un tercio de los 6,2 GW de capacidad solar instalada en Estados Unidos.
PowerBank (NASDAQ: SUUN)가 뉴욕 스케니아텔레스에 있는 두 건의 커뮤니티 태양광 프로젝트에서 진전을 발표했으며, 총 설비용량은 14.4 MW입니다. 이들 프로젝트는 산업용 브라운필드 부지에 위치하며, 모든 지방자치단체 승인(예외 허가, 부지 계획 승인, 특수 사용 허가 등)을 확보했습니다.
이 프로젝트들은 커뮤니티 솔라 모델을 통해 약 2,100가구에 청정에너지를 제공하며, 가입자는 태양광 발전으로 발생하는 전기 요금 크레딧을 받습니다. PowerBank는 100 MW 이상의 완공 실적과 1 GW+의 개발 파이프라인을 보유한 전문성을 갖추고 있습니다.
이들 개발 사업은 뉴욕의 기후 리더십 및 지역 보호법(Climate Leadership and Community Protection Act)이 2025년까지 6 GW의 태양광 용량을 달성한다는 목표를 지원하며, 현재 뉴욕 주는 미국 전체 설치 태양광 용량인 6.2 GW 중 거의 3분의 1을 차지하고 있습니다.
PowerBank (NASDAQ: SUUN) a annoncé des avancées sur deux projets solaires communautaires à Skaneateles, New York, pour une capacité combinée de 14,4 MW. Les projets, situés sur des friches industrielles (brownfields), ont obtenu toutes les autorisations municipales requises, y compris dérogations, approbation du plan d'aménagement et permis d'utilisation spéciale.
Ces projets fourniront de l'énergie propre à environ 2 100 foyers via un modèle de solaire communautaire, où les abonnés reçoivent des crédits sur leur facture d'électricité pour l'énergie produite. PowerBank apporte une solide expertise avec plus de 100 MW de projets achevés et un pipeline de développement supérieur à 1 GW.
Ces réalisations soutiennent l'objectif du Climate Leadership and Community Protection Act de l'État de New York d'atteindre 6 GW de capacité solaire d'ici 2025; l'État représente actuellement près d'un tiers des 6,2 GW de capacité solaire installée aux États-Unis.
PowerBank (NASDAQ: SUUN) hat Fortschritte bei zwei Community-Solarprojekten in Skaneateles, New York, mit einer Gesamtleistung von 14,4 MW bekanntgegeben. Die Projekte auf ehemaligen Industrie-Brownfield-Flächen haben alle erforderlichen kommunalen Genehmigungen erhalten, einschließlich Ausnahmen, Baugenehmigung und Sondernutzungsbewilligung.
Die Anlagen werden durch ein Community-Solar-Modell saubere Energie für etwa 2.100 Haushalte liefern, wobei Abonnenten Gutschriften auf ihrer Stromrechnung für die erzeugte Solarenergie erhalten. PowerBank bringt umfangreiche Erfahrung mit über 100 MW abgeschlossener Projekte und einer Entwicklungs-Pipeline von über 1 GW mit.
Diese Projekte unterstützen das Ziel des New Yorker Climate Leadership and Community Protection Act, bis 2025 6 GW Solarleistung zu erreichen; New York macht derzeit fast ein Drittel der in den USA installierten 6,2 GW Solarleistung aus.
- Projects secured all required municipal approvals for development
- Will power approximately 2,100 homes through community solar model
- Company has proven track record with over 100 MW completed projects
- Development pipeline exceeds 1 GW showing strong growth potential
- Projects align with New York's renewable energy goals
- Still requires NY Department of Environmental Conservation approval
- Project development subject to financing availability
- Potential risks from government policy changes affecting solar incentives
Insights
PowerBank advances two 14.4MW community solar projects in New York with secured municipal approvals, demonstrating pipeline execution capabilities.
PowerBank's announcement represents meaningful progress on their Skaneateles, New York solar projects, having secured all required municipal approvals including variances, site plan approval, and special use permits. The projects now move to the next regulatory phase seeking NY Department of Environmental Conservation approval before construction can begin.
These developments showcase PowerBank's ability to navigate the complex permitting process for community solar projects - a model that allows subscribers to benefit from solar generation without installing panels on their own property. Upon completion, these installations will collectively power approximately 2,100 homes, generating subscriber credits that translate to reduced electricity costs compared to standard utility rates.
The strategic significance extends beyond these specific projects. PowerBank references its track record of over 100 MW of completed projects and a substantial development pipeline exceeding 1 GW, positioning these Skaneateles projects as execution proof points of their broader business model. The company is targeting brownfield industrial sites, which represents an efficient land-use approach that typically faces fewer development hurdles than greenfield locations.
The projects align with New York's Climate Leadership and Community Protection Act, which targets 6 GW of solar capacity by 2025. New York's position as a national leader in community solar, accounting for nearly one-third of the country's installed capacity, provides PowerBank with a supportive regulatory environment for these developments.
While the announcement signals positive momentum, investors should note the explicit risks cited: the projects still require environmental approvals, community solar contracts, third-party financing arrangements, and face construction risks. Additionally, potential changes to government incentives could impact project economics.
2,100 Homes Expected to be Powered by these Community Solar Projects
Following receipt of the necessary permits and financing, the Company intends to commence the construction of the Projects. Once completed, each of the Projects 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
There are several risks associated with the development of the Projects. 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 Projects 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 interconnection permits and financing to be able to construct the Projects; the receipt of incentives for the Projects; 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 projects 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
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