PowerBank Corp (PBK) News & EventsPBKPowerBank Corp

PowerBank's Camillus Community Solar Project Receives Operating Permission, Valued at $7.3M

PowerBank announced that the 3.26 MW ground-mount community solar project known as Camillus has achieved permission to operate. Developed on a closed landfill, Camillus transforms previously underutilized land into a productive renewable energy site serving local households. The Project was sold to and constructed for Solar Advocate Development in a transaction valued at $7.3M. Camillus is now authorized to begin operating as a community solar project, enabling participating renters and homeowners to access the financial and environmental benefits of solar energy without installing rooftop panels on their home. Subscribers receive credits on their electricity bills based on their share of the Project's solar energy generated.

PowerBank Awarded Contract for 1.628 MW Solar Project by SUNY Oneonta

PowerBank announces that it has been awarded a contract by the State University of New York at Oneonta in Oneonta, NY for the development and construction of a 1.628 MW DC ground-mount solar project in a Request for Proposals administered by the New York Power Authority, NYPA. The Contract was awarded to an entity owned by PowerBank's wholly owned U.S. subsidiary, Abundant Solar Power. PowerBank will own and operate the Project once construction is complete. The next milestone for the Project is the receipt of a building permit. Once constructed and operational, the Project is expected to deliver enough energy to power the equivalent of approximately 205 homes annually. The estimated construction value of the Project is $3.58M, and the Project is expected to be eligible for U.S. federal Investment Tax Credits with an estimated value of $1.4M.

PowerBank Enters Fee for Service Development Agreement with Ontario

PowerBank Corporation announces that it has entered into a Fee for Service Development Agreement with 1001634281 Ontario, connected with the Electric Vehicle & Green Energy Advancement Association Canada. Under the Agreement, PowerBank will provide services for the early development of a battery energy storage project opportunity to be submitted under the Independent Electricity System Operator Second Long-term procurement request for proposals. If a contract is granted under the LT2(c2) program, PowerBank will enter into a fee-for-service agreement to bring the contract to the notice-to-proceed stage, which would be achieved upon full permitting. The Company will also have the right of first refusal to be the Engineering, Procurement, and Construction provider for the project, should a contract be granted. PowerBank will also assist 10001634281 Ontario Inc. with exploring a potential 18 MW BESS in Hamilton, Ontario.