Powerbank enters lease agreement for NY-Crawford Road

Executive Summary

• Powerbank Corp. has executed a lease for the NY‑Crawford Road solar project, a 6.9 MW DC ground‑mount facility in New York’s Capital District.
• The project will be developed as a community solar asset and is expected to qualify for incentives under NYSERDA’s NY‑Sun program.
• Powerbank is moving forward with interconnection applications, permitting and financing; completion will add to the state’s goal of 6 GW of solar capacity by 2025.

Key Details

• Project Size & Location: 6.9 MW (DC) ground‑mount solar farm on Crawford Road, Capital District, New York.
• Lease Agreement: Executed lease for the site; land terms not disclosed.
• Incentive Eligibility: Anticipated qualification for NYSERDA’s NY‑Sun program incentives.
• Development Stage: Interconnection application submitted; preliminary screening analysis underway. Next steps include securing interconnection approval, completing permitting, and arranging construction financing.
• Business Model: Will operate as a community solar project, allowing renters/homeowners to subscribe and receive electricity bill credits.
• Strategic Context: Contributes toward New York’s Climate Leadership and Community Protection Act target of 6 GW solar capacity by 2025; adds to Powerbank’s portfolio of >100 MW completed projects and >1 GW pipeline.
• Risks Disclosed: Dependent on receipt of a community solar contract, interconnection approval, permits, third‑party financing, construction execution, and continued government incentive support.

Notable Quotes

(No direct quotes were provided in the release.)