PowerBank Receives $1.47 Million USD from NYSERDA for Geddes Solar Project

Executive Summary

• PowerBank Corporation received a Commercial Operation Payment of $1.47 million USD from NYSERDA for its 3.79 MW Geddes Solar Power Project in New York State.
• The project also qualifies for an additional $245,000 USD under the Inclusive Community Solar Adder, bringing total anticipated incentive proceeds to ~$1.72 million USD.
• The payment reflects successful qualification for multiple NY‑Sun program adders (Megawatt Block, Community Adder, Landfill/Brownfield Adder) and supports PowerBank’s pipeline of >1 GW of development capacity.

Key Details

• Project: Geddes Solar Power Project – 3.79 MW operating community solar facility built on a closed landfill in New York State.
• Incentive Received: $1.47 million USD (Commercial Operation Payment) from NYSERDA’s NY‑Sun Program.
• Additional Incentives Expected: $245,000 USD under the Inclusive Community Solar Adder (ICSA).
• Program Adders Qualified:
• Megawatt Block
• Community Adder
• Landfill/Brownfield Adder
• Power Output Impact: Sufficient energy to power approximately 450 homes annually.
• Company Portfolio Context: PowerBank has completed >100 MW of projects and maintains a development pipeline exceeding 1 GW.

Notable Quotes

(No direct quotes were provided in the release.)