FAQ: PowerBank Corporation's Community Solar Projects in Skaneateles, New York

What is the main topic of this announcement?

PowerBank Corporation is advancing two new community solar projects totaling 14.4 megawatts in Skaneateles, New York, having secured all required municipal approvals and now awaiting DEC approval before construction begins.

Where exactly are these solar projects located?

The projects will be built on industrial brownfield sites in Onondaga County, within the Finger Lakes region of upstate New York, specifically in the community of Skaneateles.

Why is this development significant?

These projects support New York’s Climate Leadership and Community Protection Act goal of 6 GW of solar capacity by 2025 and provide environmentally beneficial reuse of brownfield sites with limited economic potential.

What benefits will subscribers receive from these projects?

Once operational, subscribers will earn credits on their electricity bill every month while the projects provide clean energy to the grid.

What approvals has PowerBank obtained and what is still needed?

PowerBank has secured all municipal approvals including variances, site plan approval, and a special use permit, and is now awaiting approval from the New York Department of Environmental Conservation before construction can begin.

What is PowerBank Corporation’s track record in renewable energy?

PowerBank has more than 100 MW of completed projects and a 1 GW pipeline across North America, specializing in distributed and community solar initiatives throughout Canada and the U.S.

Where can investors find more information about PowerBank Corporation?

The latest news and updates relating to SUUN (PowerBank’s NASDAQ ticker) are available in the company’s newsroom at https://ibn.fm/SUUN.

What is the current status of these projects?

The company has secured municipal approvals and is now pursuing DEC approval, with construction intended to begin once both approval and financing are received.