Powerbank's Geddes solar project receives $1.47M (U.S.)

Executive Summary

• Powerbank Corp. received a commercial operation payment of $1.47 million USD from the New York State Energy Research and Development Authority (NYSERDA) for its 3.79-megawatt Geddes solar power project.
• The project is expected to receive an additional $245,000 USD through the inclusive community solar adder under the NY-Sun program.
• The Geddes project is a community solar facility built on a closed landfill, delivering enough energy to power approximately 450 homes annually.

Key Details

• Payment Received: $1.47 million USD commercial operation payment from NYSERDA.
• Expected Additional Payment: $245,000 USD via the inclusive community solar adder.
• Project Name: Geddes Solar Project.
• Project Capacity: 3.79 megawatts.
• Location: New York State.
• Funding Source: New York State Energy Research and Development Authority (NYSERDA) NY-Sun program.
• Qualifying Incentives:
  • Megawatt block.
  • Community adder.
  • Landfill/brownfield adder.
  • Inclusive community solar adder (pending).
• Project Characteristics:
  • Built on a closed landfill.
  • Operates as a community solar project.
  • Interconnected directly to the local electricity grid.
  • Estimated output: Enough energy to power ~450 homes annually.
• Company Context:
  • Powerbank has over 100 MW of completed projects.
  • Development pipeline exceeds one gigawatt.
  • Focuses on distributed and community solar projects in Canada and the United States.