Powerbank granted incentives for Jordan Road project

Executive Summary

• Powerbank Corp. has secured approval for up to $1,965,579 USD in incentives from NYSERDA for its 7-megawatt Jordan Road 1 community solar project in Skaneateles Falls, N.Y.
• The project has also received brownfield-specific environmental approvals from the NYS Department of Environmental Conservation (NYSDEC) and municipal approvals.
• The project is expected to qualify for an additional $1,576,520 in NY-Sun incentives through the inclusive community solar adder, bringing total potential incentives to approximately $3.54 million.

Key Details

• Project Name: Jordan Road 1 Community Solar Project
• Location: Skaneateles Falls, N.Y. (privately owned brownfield lands)
• Capacity: 7 megawatts (MW)
• NYSERDA Incentive: Approved for up to $1,965,579 USD through the NY-Sun program.
• Additional Incentives: Expected to qualify for up to $1,576,520 USD through the inclusive community solar adder.
• Regulatory Status: Received brownfield-specific environmental approvals from NYSDEC and municipal approvals.
• Operational Scope: The project will be interconnected to the local electricity grid and operated as a community solar project, expected to power approximately 875 homes annually.
• Company Pipeline: Powerbank has a development pipeline exceeding one gigawatt and over 100 megawatts of completed projects.
• Risks: Development is subject to receipt of a community solar contract, required permits, third-party financing availability, construction risks, and potential changes in government incentive policies.

Notable Quotes

• "Powerbank is also pleased to announce that the project has received its brownfield-specific environmental approvals to operate from the NYS Department of Environmental Conservation."