PowerBank Corporation (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: 103) has achieved site control for its 2.8 MW Day Hollow ground-mount solar project in upstate New York, marking a significant step forward in the state's renewable energy expansion. This development allows the project to progress to the interconnection study phase, bringing it closer to operational status.
The Day Hollow project is designed as a community solar initiative, enabling renters, businesses, and homeowners to subscribe and receive bill credits without requiring on-site equipment. This approach addresses accessibility barriers for those unable to install personal solar systems, expanding renewable energy adoption across diverse demographic groups. 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, providing competitive pricing for subscribers.
This development supports New York's Climate Leadership and Community Protection Act, which targets 6 GW of solar capacity by 2025. The successful advancement of the Day Hollow project demonstrates the growing momentum behind distributed energy resources and community solar models as viable pathways to meet state-mandated renewable energy goals. For more information about PowerBank's renewable energy initiatives, visit https://ibn.fm/xcmyM.
The project's progression reflects PowerBank's broader strategy as an independent renewable and clean energy project developer and owner focusing on distributed and community solar projects across North America. The company develops solar and Battery Energy Storage System (BESS) projects that sell electricity to utilities, commercial, industrial, municipal, and residential off-takers, maximizing returns through a diverse portfolio across multiple markets.
This announcement underscores the importance of site control in renewable energy development, as it represents a critical milestone that enables subsequent phases including interconnection studies, permitting, and construction. The successful securing of site control for the Day Hollow project positions PowerBank to contribute meaningfully to New York's renewable energy infrastructure while providing tangible benefits to local communities through accessible solar energy options.
