PowerBank's 5.7 MW New York Solar Project Clears Key Interconnection Hurdle
TL;DR
PowerBank's 5.7 MW solar project offers investors a first-year average rate of $0.0971/kWh under New York's VDER compensation mechanism.
The project completed its Coordinated Electric System Interconnection Review ensuring safe grid connection and will provide energy for 670 homes once operational.
This community solar initiative supports New York's goal of 6 GW solar capacity by 2025 advancing clean energy and environmental protection.
PowerBank has over 100 MW built and a 1 GW pipeline making it a major player in North American renewable energy development.
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PowerBank Corporation has achieved a significant milestone for its 5.7 MW North Main St solar project in upstate New York with the completion of the Coordinated Electric System Interconnection Review (CESIR) (https://ibn.fm/MqTpK). This technical assessment confirms the project can safely connect to the local electric grid without adverse impacts, clearing a crucial prerequisite for development.
The project is expected to qualify under New York's Value of Distributed Energy Resources (VDER) compensation mechanism, with a projected first-year average rate of $0.0971 per kilowatt-hour. Once operational, the community solar facility will generate enough electricity to power approximately 670 homes, contributing to the state's renewable energy infrastructure.
This development aligns with New York's ambitious climate targets under the Climate Leadership and Community Protection Act, which aims to deploy 6 GW of solar capacity by 2025. The successful interconnection study demonstrates PowerBank's capability to navigate complex regulatory and technical requirements in one of the nation's most progressive renewable energy markets.
PowerBank, trading on NASDAQ as SUUN, maintains a substantial portfolio with over 100 MW of built projects and a development pipeline exceeding 1 GW. The company's focus on distributed and community solar initiatives positions it to capitalize on growing demand for localized renewable energy solutions across both the United States and Canada.
The completion of the interconnection study represents more than just a procedural milestone—it signals tangible progress toward expanding clean energy access for New York residents while supporting grid reliability. Community solar projects like North Main St enable households and businesses to benefit from solar energy without requiring individual rooftop installations, democratizing access to renewable power.
As states continue to implement aggressive climate policies, successful interconnection studies become increasingly critical for project viability. Delays or complications in grid connection can significantly impact project timelines and economics, making this achievement particularly noteworthy for PowerBank's expansion strategy in key markets.
Curated from NewMediaWire
