Business
PowerBank's 2.1 MW Phillips Rd Project Successfully Completes Major Interconnection Study on Path to Permitting
PowerBank Corporation (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: 103) ("PowerBank" or the "Company"), a North American energy infrastructure developer and asset owner, is pleased to announce a new 2.1 MW solar project located on a closed landfill in upstate New York, known as Phillips Rd (the "Project").
About this update from Powerbank Corporation
[{"type":"text","content":"Project to Power Equivalent of Approximately 262 Homes","length":54,"tagName":"p","attribs":{}},{"type":"text","content":"TORONTO, Dec. 30, 2025 /CNW/ - PowerBank Corporation (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: 103) ("PowerBank" or the "Company"), a North American energy infrastructure developer and asset owner, is pleased to announce a new 2.1 MW solar project located on a closed landfill in upstate New York, known as Phillips Rd (the "Project").","length":370,"tagName":"p"},{"type":"image","alt":"PowerBank Logo (CNW Group/PowerBank Corporation)","displaySize":"","headline":null,"caption":"PowerBank Logo (CNW Group/PowerBank Corporation)","className":"","disableSlideshowImg":false,"size":{"original":{"width":386,"height":78,"url":"https://media.zenfs.com/en/prnewswire.com/af08e7e858a67eea98c8e7073c7c198a"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/xTWiibrtPW4cBn1HiLCePg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTE0MjtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/af08e7e858a67eea98c8e7073c7c198a","width":386,"height":78}},"href":"https://mma.prnewswire.com/media/2852544/PowerBank_Corporation_PowerBank_s_2_1_MW_Phillips_Rd_Project_Suc.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"The Company secured site control on the Project in the form of a land lease and received positive results through its Coordinated Electric System Interconnection Review (CESIR) and now can proceed to permitting with local authorities.","length":234,"tagName":"p"},{"type":"text","content":"The Phillips Rd project is poised to qualify for New York's Value of Distributed Energy Resources (VDER) compensation mechanism under Case 15-E-0751, with an estimated first-year average rate of US$0.0971/kWh. This VDER rate ensures fair compensation for clean energy delivered to the grid, reinforcing the project's financial and environmental viability.","length":363,"tagName":"p"},{"type":"text","content":"The Project is also expected to qualify for incentives under NYSERDA's NY-Sun program and federal Investment Tax Credits under the Inflation Reduction Act of 2022 and the One Big Beautiful Bill Act of 2025.","length":210,"tagName":"p"},{"type":"text","content":"Upon securing permits and financing, PowerBank will commence construction, with the project set to operate as a community s...