PowerBank announces 5 MW AC energy storage system project in New York

PowerBank (SUUN) has executed a lease agreement on a 5 MW AC hybrid solar plus battery energy storage project known as the NY-Cloverdale Rd project, in upstate New York. The Project is expected to be eligible for incentives under the New York State Energy Research and Development Authority NY-Sun Program and the Retail Storage Incentive Program. The company is in the process of initiating the preliminary screening analysis as part of the interconnection process. Assuming receipt of interconnection approval, the company will work to complete the permitting process and secure the necessary financing for the construction of the project. Once completed, the project will likely be operated as a hybrid community solar plus energy storage project. Once the project is connected and generating electricity, energy from the site feeds into the local power grid. The Project advances New York’s path to 10 GW of distributed solar and 6GW of energy storage by 2030.