Powerbank continues N.Y. landfill project work

Ms. Tracy Zheng reports POWERBANK ADVANCES 3.1 MW HYBRID SOLAR AND BESS PROJECT ON A CLOSED LANDFILL IN NY Powerbank Corp. has provided an update on the development of the NY-South Park project, located on a closed landfill site in Buffalo, N.Y. The project has now secured all discretionary municipal approvals to enable the project to move forward, including a negative declaration under SEQRA, area and use variances, and a zoning map amendment. The company is currently pursuing NYS Department of Environmental Conservation approval to enter construction on the project. Following receipt of the final construction approval and financing, the company intends to commence the construction of the project. Once completed, the project will be operated as a community solar project. Community solar is a group of solar panels with access to the local electricity grid. Once the panels are turned on and generating electricity, clean energy from the site feeds into the local power grid. Depending on the size and number of panels the project has, dozens or even hundreds of renters and homeowners can save money from the electricity that is generated by the project. By subscribing to a project, a homeowner earns credits on their electric bill every month from their portion of the solar that is generated by the project, accessing the benefits of solar without installing panels on their home. This allows homeowners to realize a reduced cost-per-kilowatt-hour from the power they consume versus standard utility rates. Powerbank's proven expertise, with over 100 megawatts of completed projects and a development pipeline exceeding one GW, underpins the project's execution. Strategic partnerships and institutional-grade development capabilities position Powerbank to deliver reliable, high-impact renewable energy solutions. The project advances New York's ambitious Climate Leadership and Community Protection Act goal of six GW of solar capacity by 2025. As a national leader in community solar, New York accounts for nearly one-third of the United States' 6.2 GW of installed solar capacity and Powerbank is honoured to contribute to this transformative milestone. 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 final construction approval, 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. About Powerbank Corp. Powerbank is an independent renewable and clean energy project developer and owner focusing on distributed and community solar projects in Canada and the United States. The company develops solar and battery energy storage system (BESS) projects that sell electricity to utilities, commercial, industrial, municipal and residential off-takers. The company maximizes returns via a diverse portfolio of projects across multiple leading North America markets including projects with utilities, host off-takers, community solar and virtual net metering projects. The company has a potential development pipeline of over one gigawatt and has developed renewable and clean energy projects with a combined capacity of over 100 megawatts built. We seek Safe Harbor.