PowerBank Advances New York Community Solar Storage Project, Restructures U.S. Asset Portfolio

PowerBank Corp ( (TSE:SUNN) ) has provided an announcement.

PowerBank Corporation has signed a lease for a 5 MW AC hybrid solar-plus-battery energy storage project in upstate New York, known as NY-Conklin Hill Rd, which is expected to qualify for state solar and storage incentives. The project is intended to operate as a community solar and storage facility, enabling local renters and homeowners to subscribe and earn bill credits, lowering their electricity costs without installing equipment.

The initiative supports New York’s 2030 goals of 10 GW of distributed solar and 6 GW of storage, reinforcing the state’s leadership in community solar capacity while underscoring PowerBank’s role in distributed clean energy buildout. Separately, PowerBank will take back its Gainesville and Highway 28 projects after a buyer exercised a sell-back option due to permitting delays, and the company plans to reassess those assets while continuing unaffected construction on its Hardie and Rice Road projects.

The most recent analyst rating on (TSE:SUNN) stock is a Buy with a C$6.00 price target. To see the full list of analyst forecasts on PowerBank Corp stock, see the TSE:SUNN Stock Forecast page.

More about PowerBank Corp

PowerBank Corporation is a North American energy infrastructure developer and asset owner focused on renewable power, particularly distributed solar and battery energy storage. With over 100 MW of completed projects and a development pipeline exceeding 1 GW, the company targets community and utility-scale assets, leveraging strategic partnerships to deliver institutional-grade clean energy solutions.

Technical Sentiment Signal: Buy

Current Market Cap: C$261.2M

Learn more about SUNN stock on TipRanks’ Stock Analysis page.