PowerBank Corporation has secured all required municipal approvals for two 14.4 MW solar projects in the community of Skaneateles in upstate New York, marking a significant step forward in the state's renewable energy expansion. The company, which trades on NASDAQ as SUUN, Cboe CA as SUNN, and FSE as GY2, specializes in distributed and community solar initiatives throughout Canada and the U.S.
The projects will be built on industrial brownfield sites in Onondaga County, repurposing unused land that has otherwise limited economic potential. This approach provides an environmentally beneficial reuse of these sites while supporting New York's Climate Leadership and Community Protection Act goal of 6 GW of solar capacity by 2025. The company has obtained variances, site plan approval, and a special use permit from local authorities.
PowerBank is now awaiting approval from the New York Department of Environmental Conservation before construction can begin. The company intends to proceed with construction once both regulatory approval and financing are secured. Once operational, the projects will provide clean energy to the grid, with subscribers earning credits on their electricity bill every month through the community solar program.
This development represents part of PowerBank's broader renewable energy portfolio, which includes more than 100 MW of completed projects and a 1 GW pipeline across North America. The Skaneateles projects demonstrate the growing trend of repurposing underutilized industrial land for renewable energy generation, particularly in regions with ambitious climate goals like New York State.
The advancement of these projects comes as New York continues to push forward with its clean energy transition, creating opportunities for both energy consumers and developers in the renewable sector. Community solar projects like these allow residents and businesses to benefit from solar energy without installing panels on their own properties, making renewable energy more accessible to a broader population.
