$168 Million USD in Construction Value of Projects - PowerBank Shares Additional Information on the Safe Harbor of 15 Distributed Solar and Energy Storage Projects in New York State

Core Insights - PowerBank Corporation has announced the safe harbor of 15 late-stage distributed solar and energy storage projects in New York, which are expected to generate approximately 67 MW DC of solar power and 11 MWh of energy storage, enough to power around 7,500 homes [1][3][7] - The projects are eligible for a 30% Investment Tax Credit and potential bonus adders, amounting to $65 million in tax credit eligibility [1][7] - PowerBank aims to complete the permitting process and secure financing for the construction of these projects, with positive interconnection studies already secured for 14 of the 15 projects [2][6] Project Details - The projects vary in size from 500 kW DC to 7 MW DC for distributed solar and from 1.2 to 8 MWh for battery energy storage systems [3] - Once operational, the projects will function as either community solar or net-metered projects, providing economic savings and environmental benefits to local residents [4][5] Company Background - PowerBank Corporation is a leader in renewable energy project development, focusing on distributed and community solar projects in North America, with a development pipeline exceeding 1 GW and over 100 MW of completed projects [6][10] - The company is positioned to deliver reliable renewable energy solutions through strategic partnerships and institutional-grade development capabilities [6] Industry Context - The projects contribute to New York's goal of achieving 10 GW of distributed solar and 6 GW of energy storage by 2030, with the state leading the U.S. in community solar capacity [7]