PowerBank Announces New 5 MW Distributed Solar and Battery Energy Storage System Project in New York

Executive Summary

• PowerBank Corp. executed a lease agreement for the NY‑Holland Glnwd 5 MW AC hybrid solar‑plus‑battery energy storage project in New York.
• The project will seek eligibility for NYSERDA NY‑Sun, Retail Energy Storage Incentive programs and federal Investment Tax Credits under the Inflation Reduction Act and the One Big Beautiful Bill Act.
• Development is entering preliminary screening and interconnection approval stages; permitting and financing will be pursued pending approvals.

Key Details

• Project Size: 5 MW AC hybrid solar + battery energy storage system (BESS).
• Location: New York State, United States (NY‑Holland Glnwd site).
• Agreement Type: Lease agreement executed by PowerBank Corp. to develop the project.
• Incentive Eligibility:
• NYSERDA NY‑Sun program
• NYSERDA Retail Energy Storage Incentive Program
• Federal Investment Tax Credit (Inflation Reduction Act, 2022)
• One Big Beautiful Bill Act (2025)
• Development Status: Initiating preliminary screening analysis for interconnection; awaiting interconnection approval before proceeding to permitting and financing.
• Company Track Record: Over 100 MW of completed projects; development pipeline exceeding 1 GW.
• Strategic Fit: Supports New York’s Climate Leadership and Community Protection Act goal of 6 GW solar capacity by 2025; aligns with PowerBank’s focus on distributed and community solar assets.
• Risks Noted: Dependence on receipt of a community solar contract, interconnection approval, permits, third‑party financing, and continued availability of government incentives.

Notable Quotes

(No direct quotes were provided in the release.)