20 MW of Solar and BESS Power Purchase Agreements Secured by PowerBank with the New York State Division of Military and Naval Affairs (DMNA)

Executive Summary

• PowerBank Corporation has executed lease and long‑term power purchase agreements (PPAs) with the New York State Division of Military and Naval Affairs (DMNA) for a portfolio of solar PV and battery energy storage projects totaling 20 MW DC.
• The portfolio comprises ~19 MW of solar photovoltaic systems and 1 MW/2 MWh of battery storage, to be built on DMNA‑owned facilities across New York State with construction slated to begin by the end of 2025.
• The PPAs have an initial term of 20–25 years, providing DMNA with resiliency, climate‑benefit and cost‑saving outcomes while allowing community‑solar subscriptions for local residents.

Key Details

• Project Scope: 20 MW DC total – ~19 MW solar PV + 1 MW (2 MWh) battery energy storage system (BESS).
• Location: Various New York Army National Guard installations and DMNA‑managed properties across the state (e.g., Camp Smith Training Site, Ithaca, Kingston, Newark).
• Agreement Structure: Lease agreements for land use combined with long‑term PPAs (initial 20–25 year term) selling electricity to DMNA; portion of generation may be offered as community‑solar subscriptions to local residents.
• Selection Process: PowerBank’s U.S. subsidiary Abundant Solar Power was selected through a competitive bidding process administered by the New York Power Authority (NYPA).
• Construction Timeline: Groundbreaking expected no later than end of calendar year 2025, subject to interconnection approvals, permits and financing.
• Strategic Benefits: Supports DMNA’s resiliency, climate‑change and cost‑saving goals; qualifies for NYSUN program incentives from NYSERDA; expands PowerBank’s community‑solar footprint.
• Financial Impact (Qualitative): Long‑term revenue stream from 20‑year PPAs; potential additional cash flow from community‑solar subscriptions and utility bill credits.

Notable Quotes

• Dr. Richard Lu, President & CEO, PowerBank: “This is another exciting development project for PowerBank… will provide sustainable green energy and resiliency services for years to come.”
• Major General Ray Shields, Adjutant General of New York: “The Division of Military and Naval Affairs … look forward to partnering with PowerBank … this project will decrease utility costs and increase energy resiliency while making significant progress towards Governor Hochul’s carbon‑reduction goals.”
• Justin E. Driscoll, President & CEO, New York Power Authority: “The Power Authority is pleased to collaborate with PowerBank on this extensive set of projects that will make the Department of Military and Naval Affairs one of New York State's leaders in on‑site solar generation.”