PowerBank Advances 3.16 MW Honesdale Project in Pennsylvania
PowerBank (NASDAQ: SUUN) has announced progress on its 3.16 MW Honesdale ground-mount solar project in Pennsylvania, securing site control and moving to the interconnection study phase. The community solar project is expected to power approximately 370 homes upon completion.
The project's development is contingent on the final approval of House Bill 1842, which passed the Pennsylvania House in March 2024 and again in May 2025 with additional provisions for natural gas. The bill is currently under Senate review.
PowerBank brings significant experience to the project, with over 100 MW of completed projects and a development pipeline exceeding 1 GW. The company aims to provide clean, affordable energy to residents across various income levels through its community solar initiatives.
PowerBank (NASDAQ: SUUN) ha annunciato progressi nel progetto solare a terra da 3,16 MW a Honesdale in Pennsylvania, assicurando il controllo del sito e avanzando alla fase di studio per l'interconnessione. Una volta completato, il progetto di energia solare comunitaria dovrebbe alimentare circa 370 abitazioni.
Lo sviluppo del progetto dipende dall'approvazione finale della House Bill 1842, che è stata approvata dalla Camera dei Rappresentanti della Pennsylvania nel marzo 2024 e nuovamente nel maggio 2025 con disposizioni aggiuntive sul gas naturale. La proposta è attualmente all'esame del Senato.
PowerBank porta al progetto una solida esperienza, con oltre 100 MW di progetti completati e una pipeline di sviluppo superiore a 1 GW. L'azienda punta a fornire energia pulita e accessibile ai residenti di diversi livelli di reddito tramite le sue iniziative di comunità solare.
PowerBank (NASDAQ: SUUN) ha anunciado avances en su proyecto solar terrestre de 3,16 MW en Honesdale, Pensilvania, asegurando el control del sitio y pasando a la fase de estudio de interconexión. Se espera que el proyecto solar comunitario suministre energía a aproximadamente 370 hogares una vez completado.
El desarrollo del proyecto está condicionado a la aprobación final de la House Bill 1842, que la Cámara de Representantes de Pensilvania aprobó en marzo de 2024 y nuevamente en mayo de 2025 con disposiciones adicionales sobre gas natural. El proyecto de ley se encuentra actualmente en revisión en el Senado.
PowerBank aporta amplia experiencia al proyecto, con más de 100 MW de proyectos completados y una cartera de desarrollo superior a 1 GW. La compañía pretende ofrecer energía limpia y asequible a residentes de distintos niveles de ingresos mediante sus iniciativas de energía solar comunitaria.
PowerBank (NASDAQ: SUUN)는 펜실베이니아주 호네스데일에 진행 중인 지상형 태양광 프로젝트 3.16 MW에서 부지 확보를 완료하고 계통연계 연구 단계로 진입했다고 발표했습니다. 이 커뮤니티 태양광 프로젝트는 완료되면 약 370가구에 전력을 공급할 것으로 예상됩니다.
프로젝트 개발은 House Bill 1842의 최종 승인에 달려 있으며, 해당 법안은 2024년 3월과 2025년 5월(천연가스 관련 추가 조항 포함)에 펜실베이니아 하원에서 통과되었습니다. 현재 상원의 심사를 받고 있습니다.
PowerBank는 100 MW 이상의 완료된 프로젝트와 1 GW가 넘는 개발 파이프라인을 보유한 풍부한 경험을 이 프로젝트에 제공합니다. 회사는 커뮤니티 솔라 이니셔티브를 통해 다양한 소득층 거주자들에게 깨끗하고 저렴한 에너지를 제공하는 것을 목표로 하고 있습니다.
PowerBank (NASDAQ: SUUN) a annoncé des avancées sur son projet solaire au sol de 3,16 MW à Honesdale, Pennsylvanie : le contrôle du site a été assuré et le projet est passé à la phase d'étude de raccordement. Une fois achevé, le projet solaire communautaire devrait alimenter environ 370 foyers.
Le développement du projet est conditionné à l'approbation finale de la House Bill 1842, adoptée par la Chambre des représentants de Pennsylvanie en mars 2024 puis de nouveau en mai 2025 avec des dispositions supplémentaires sur le gaz naturel. Le projet de loi est actuellement examiné par le Sénat.
PowerBank apporte une solide expérience au projet, avec plus de 100 MW de projets achevés et une pipeline de développement supérieure à 1 GW. La société vise à fournir une énergie propre et abordable aux résidents de différents niveaux de revenus via ses initiatives de solaire communautaire.
PowerBank (NASDAQ: SUUN) hat Fortschritte bei seinem 3,16-MW-Freiflächen-Solarprojekt in Honesdale, Pennsylvania, bekannt gegeben, indem Standortkontrolle gesichert und die Phase der Netzanschlussstudie eingeleitet wurde. Das Gemeinschaftssolarprojekt soll nach Fertigstellung etwa 370 Haushalte mit Strom versorgen.
Die Entwicklung des Projekts hängt von der endgültigen Genehmigung des House Bill 1842 ab, das das Repräsentantenhaus von Pennsylvania im März 2024 und erneut im Mai 2025 mit zusätzlichen Bestimmungen zum Erdgas verabschiedet hat. Der Gesetzentwurf wird derzeit vom Senat geprüft.
PowerBank bringt umfassende Erfahrung in das Projekt ein, mit über 100 MW abgeschlossener Projekte und einer Entwicklungspipeline von mehr als 1 GW. Das Unternehmen will durch seine Community-Solar-Initiativen saubere, erschwingliche Energie für Einwohner verschiedener Einkommensgruppen bereitstellen.
- Project secured site control, advancing to interconnection study phase
- Expected to power 370 homes with clean energy
- Company has strong track record with over 100 MW completed projects
- Development pipeline exceeds 1 GW, showing growth potential
- Project development contingent on House Bill 1842 final approval
- Faces risks related to permits, community solar contracts, and third-party financing
- Potential policy risks from government changes to solar incentives
Insights
PowerBank advances 3.16MW solar project in Pennsylvania contingent on pending legislation, representing incremental progress in their 1GW development pipeline.
PowerBank has secured site control for its 3.16 MW Honesdale ground-mount solar project in Pennsylvania, allowing it to move forward to the interconnection study phase. This community solar installation is expected to power approximately 370 homes when completed, feeding clean energy directly into the local grid.
The project faces a significant regulatory hurdle, as it depends on the final approval of House Bill 1842, which would enable community solar development in Pennsylvania. While the bill passed the House initially in March 2024 and again in May 2025 (with provisions for natural gas inclusion), it remains under Senate review and hasn't become law yet.
This development represents a small but strategic addition to PowerBank's portfolio, which already includes over 100 MW of completed projects with a substantial development pipeline exceeding 1 GW. The Honesdale project aligns with PowerBank's stated focus on community solar initiatives that provide clean energy access across various income levels.
The company has appropriately disclosed several material risks to this project, including the legislative uncertainty, permit requirements, financing dependencies, and potential policy changes regarding renewable energy incentives. These contingencies highlight that while site control is secured, the project remains in early development stages with several hurdles to clear before construction could begin.
370 Homes Expected to be Powered by this Project
The clean energy generated by a community solar project feeds directly into the local electricity grid. Depending on the size and number of panels the project has, dozens or even hundreds of renters and homeowners can earn credits on their electric bill and save money from the electricity that is generated by the project. PowerBank's strategic focus on community solar aligns with its goal of powering thousands of homes with clean and affordable energy.
On March 26, 2024, the Pennsylvania House passed House Bill 1842, a bill enabling the potential development of community solar projects in the state, paving the way for companies like PowerBank to expand into the region and provide clean energy to residents of various income levels. On May 7, 2025 the bill passed House again with the addition of natural gas included in the community solar's application. The bill is currently under review by the Senate. The development of the Project as a community solar project will be subject to the final approval of House Bill 1842 by the State government of
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.
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, House Bill 1842 becoming law, 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 expected savings for local residents; the receipt of interconnection approval, 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
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