Powerbank continues N.Y. landfill project work

Executive Summary

• Powerbank Corp. has secured all discretionary municipal approvals for its 3.1 MW hybrid solar and Battery Energy Storage System (BESS) project located on a closed landfill in South Park, New York.
• The company is now pursuing final approval from the NYS Department of Environmental Conservation to begin construction.
• Upon completion, the facility will operate as a community solar project, feeding clean energy into the local grid to provide bill credits to subscribers.

Key Details

• Project Name: NY-South Park project.
• Location: Closed landfill site in Buffalo, N.Y.
• Capacity: 3.1 MW hybrid solar and BESS.
• Regulatory Milestones Achieved:
  • Negative declaration under SEQRA (State Environmental Quality Review Act).
  • Area and use variances.
  • Zoning map amendment.
• Next Steps: Pursuing NYS Department of Environmental Conservation approval to enter construction; intends to commence construction following final construction approval and financing.
• Operational Model: Community solar, allowing renters and homeowners to earn credits on electric bills from generated solar power without installing panels on their homes.
• Company Context: Powerbank has over 100 MW of completed projects and a development pipeline exceeding 1 GW.
• Strategic Alignment: Supports New York’s Climate Leadership and Community Protection Act goal of 6 GW of solar capacity by 2025.
• Risks Identified: Dependency on receipt of a community solar contract, final construction approval, third-party financing availability, construction risks, and potential changes to government incentives or policy support.

Notable Quotes

• "Powerbank's proven expertise, with over 100 megawatts of completed projects and a development pipeline exceeding one GW, underpins the project's execution."
• "The project advances New York's ambitious Climate Leadership and Community Protection Act goal of six GW of solar capacity by 2025."