PowerBank to Develop 5 MW Community Solar and Battery Project in New York

Solarbank Corp. ( (TSE:SUNN) ) has shared an announcement.

PowerBank Corporation has signed a lease agreement for a 5 MW AC hybrid solar and battery energy storage project in New York, known as NY-Sapbush, which is expected to qualify for state incentives aimed at expanding renewable power and storage. The project is intended to operate as a community solar plus storage facility, allowing local renters and homeowners to subscribe and receive bill credits without installing rooftop systems, thereby lowering their electricity costs while contributing to grid stability. Backed by PowerBank’s track record of more than 100 MW of completed projects and a development pipeline exceeding 1 GW, the NY-Sapbush project aligns with New York’s climate goals and reinforces the company’s position in the rapidly growing community solar and energy storage market, though it remains contingent on interconnection approvals, permitting, financing and stable policy support.

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 Solarbank Corp. stock, see the TSE:SUNN Stock Forecast page.

More about Solarbank Corp.

PowerBank Corporation is an independent renewable and clean energy project developer and owner focused on distributed and community solar projects in Canada and the United States. The company develops solar and battery energy storage system projects that sell electricity to utilities, commercial, industrial, municipal and residential customers, aiming to maximize returns through a diversified portfolio across multiple North American markets. PowerBank has a development pipeline of over one gigawatt and has already built more than 100 megawatts of renewable and clean energy capacity.

Technical Sentiment Signal: Buy

Current Market Cap: C$261.2M

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