PowerBank (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: 103) announced it has executed lease and power purchase agreements with the New York State Division of Military and Naval Affairs (DMNA) to develop a 20 MW DC portfolio of solar and battery storage projects across multiple Army National Guard facilities. Selected through a competitive process led by the New York Power Authority, the portfolio includes ground mount, rooftop, and parking canopy systems—approximately 19 MW of solar and 1 MW/2 MWh of storage—to support DMNA’s resiliency, climate, and cost-saving goals. Construction is expected to begin by the end of 2025, with PowerBank’s U.S. subsidiary, Abundant Solar Power, leading development and financing efforts.
This announcement underscores the growing role of distributed energy resources in enhancing grid resilience and reducing operational costs for public institutions. By deploying solar and storage across military facilities, the project will provide backup power during outages, reduce reliance on fossil fuels, and lower electricity expenses for the DMNA. The portfolio’s inclusion of rooftop and parking canopy systems demonstrates innovative use of existing infrastructure to generate clean energy without requiring additional land.
PowerBank’s ability to secure this contract through a competitive process highlights its expertise in developing community and distributed solar projects. The company focuses on projects that sell electricity to utilities, commercial, industrial, municipal, and residential off-takers, with a potential development pipeline of over one gigawatt. This project adds to PowerBank’s track record of over 100 megawatts of built renewable capacity.
The partnership aligns with New York State’s ambitious climate goals, including the Climate Leadership and Community Protection Act, which mandates 70% renewable electricity by 2030 and a zero-emission grid by 2040. By integrating storage, the project also supports grid stability and maximizes the value of solar generation.
For more details on the press release, visit https://ibn.fm/Rl6Ka. Information about PowerBank can be found at www.powerbankcorp.com. Forward-looking statements are subject to risks outlined in PowerBank’s filings with the SEC; see https://ibn.fm/8xKD1 for details.
