PowerBank Approved for $1,965,579 USD from NYSERDA for Jordan Rd 1 Solar Project and Project Receives NYSDEC Brownfield Approvals

Core Insights - PowerBank Corporation has been approved for $1,965,579 USD in incentives for its Jordan Rd 1 solar project under the NYSERDA's NY-Sun Program, with potential additional incentives of $1,576,520 USD through the Inclusive Community Solar Adder [1] - The Jordan Rd 1 project, located on brownfield lands in Skaneateles Falls, New York, is expected to power approximately 875 homes annually once operational [1] - The project aligns with New York's goal of achieving 10 GW of solar capacity by 2030 and supports local job creation while advancing clean energy objectives [1] Financial Incentives - The NY-Sun Program is a public-private partnership aimed at expanding solar adoption and making solar technology more affordable for New Yorkers [1] - The project has received municipal and environmental approvals necessary for operation [1] Project Details - The Jordan Rd 1 project will operate as a community solar project, allowing homeowners to benefit from solar energy without installing panels on their properties [1] - PowerBank has a proven track record with over 100 MW of completed projects and a development pipeline exceeding 1 GW, positioning the company for successful project execution [1] Industry Context - New York leads the U.S. in community solar capacity and has already achieved its 6 GW solar goal set by the New York State Climate Act [1] - The project contributes to the state's clean energy goals and enhances the local power grid by feeding clean energy directly into it [1]