PowerBank announces 15 solar and energy storage projects in New York State

PowerBank (SUUN) announced the execution of equipment procurement agreements for 15 late-stage distributed solar and energy storage projects across New York state through wholly owned subsidiaries. The projects are expected to bring approximately 67 MW DC of solar and 11 MWh of energy storage to the State. This procurement is expected to enable the Projects to remain eligible for United States federal Investment Tax Credits for energy projects under the One Big Beautiful Bill Act of 2025. Physical work on the procured equipment is expected to safe harbor the Projects by December 31, 2025. The value of the Investment Tax Credits associated with the Projects being harbored safely through this procurement is estimated at $65M, while the total construction value of the portfolio is estimated at $168M. PowerBank Corporation has the option to continue as the owner on some or all of the Projects under its expanding portfolio as an Independent Power Producer and intends on delivering the full EPC scope for the Projects whether it retains ownership or not. Commercial operation of the 15 projects is expected to occur over the next several years. The Projects advance New York’s path to 10 GW of distributed solar and 6GW of energy storage by 2030.