FAQ: PowerBank Corporation's 20 MW Solar and Storage Project with New York State DMNA

What is the main announcement about?

PowerBank Corporation has executed lease and power purchase agreements with the New York State Division of Military and Naval Affairs to develop a 20 MW DC portfolio of solar and battery storage projects across multiple Army National Guard facilities.

What specific projects are included in this portfolio?

The portfolio includes ground mount, rooftop, and parking canopy systems totaling approximately 19 MW of solar and 1 MW/2 MWh of battery storage capacity.

Why is this project significant for the New York State DMNA?

This project supports DMNA’s resiliency, climate, and cost-saving goals by providing renewable energy and storage capabilities to Army National Guard facilities.

When is construction expected to begin and who will lead it?

Construction is expected to begin by the end of 2025, with PowerBank’s U.S. subsidiary, Abundant Solar Power, leading development and financing efforts.

How was PowerBank selected for this project?

PowerBank was selected through a competitive process led by the New York Power Authority to develop these solar and storage projects.

What is PowerBank Corporation’s business focus?

PowerBank is an independent renewable and clean energy project developer and owner focusing on distributed and community solar projects in Canada and the USA, developing solar and Battery Energy Storage System projects.

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

The Company has developed renewable and clean energy projects with a combined capacity of over 100 megawatts built and has a potential development pipeline of over one gigawatt.

Where can I find more information about PowerBank Corporation?

To learn more about PowerBank, please visit www.powerbankcorp.com. For the latest news and updates relating to SUUN, visit https://ibn.fm/SUUN.

What types of customers does PowerBank serve with its energy projects?

PowerBank develops projects that sell electricity to utilities, commercial, industrial, municipal and residential off-takers through various project types including community solar and virtual net metering projects.

Where can I read the full press release about this announcement?

To view the full press release, visit https://ibn.fm/Rl6Ka. Additional forward-looking information details are available at https://ibn.fm/8xKD1.