PowerBank Advances 2.8 MW Community Solar Project in New York Under VDER Program

PowerBank Corporation (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: 103) announced that its 2.8 MW Day Hollow ground-mount solar project in upstate New York has secured site control, enabling progression to the interconnection study phase. The project is expected to qualify under New York's Value of Distributed Energy Resources (VDER) program at an estimated first-year average rate of US$0.0971/kWh.

Designed as a community solar initiative, Day Hollow will allow renters, businesses and homeowners to subscribe and receive bill credits without on-site equipment, contributing to the state's Climate Leadership and Community Protection Act target of 6 GW of solar capacity by 2025. This development represents a significant step in expanding access to renewable energy for diverse consumer segments while supporting New York's ambitious clean energy transition.

The project's advancement through site control and interconnection studies demonstrates the ongoing growth of distributed energy resources in North American markets. Community solar projects like Day Hollow provide critical infrastructure that enables broader participation in renewable energy adoption, particularly for those unable to install personal solar systems due to rental status or property constraints.

PowerBank Corporation focuses on distributed and community solar projects across Canada and the United States, developing solar and Battery Energy Storage System (BESS) projects that sell electricity to utilities, commercial, industrial, municipal and residential off-takers. The company maintains a diverse portfolio across multiple North American markets, including projects with utilities, host off-takers, community solar, and virtual net metering projects.

This development matters because it represents the continued expansion of accessible renewable energy infrastructure that supports both environmental goals and consumer energy affordability. The project's qualification under the VDER program ensures predictable revenue streams while providing subscribers with direct bill savings, creating a sustainable model for community-scale renewable development.

The forward-looking information in this announcement is subject to various risks and uncertainties, including factors beyond management's control as detailed in the company's SEC filings available at https://ibn.fm/DrOGN. The full terms of use and disclaimers applicable to this content can be found at http://IBN.fm/Disclaimer.