PowerBank Signs Lease for 5 MW Solar Storage Project
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 13 2026
0mins
Should l Buy SUUN?
PowerBank is pleased to announce that it has executed a lease agreement on a 5 MW AC hybrid solar plus battery energy storage project known as the NY-Conklin Hill Rd project, in upstate New York. The Project is expected to be eligible for incentives under the New York State Energy Research and Development Authority NY-Sun Program and the Retail Storage Incentive Program.
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Analyst Views on SUUN
Wall Street analysts forecast SUUN stock price to rise
1 Analyst Rating
1 Buy
0 Hold
0 Sell
Moderate Buy
Current: 0.561
Low
6.00
Averages
6.00
High
6.00
Current: 0.561
Low
6.00
Averages
6.00
High
6.00
About SUUN
PowerBank Corp, formerly SolarBank Corporation, is an independent renewable and clean energy project developer and owner focusing on distributed and community solar projects in Canada and the United States. The Company develops solar, battery energy storage systems (BESS) and EV charging projects that sell electricity to utilities, commercial, industrial, municipal and residential off-takers. It has a diverse portfolio of projects across multiple North America markets including projects with utilities, host off-takers, community solar, and virtual net metering projects. The Company has a potential development pipeline of over one gigawatt and has developed renewable and clean energy projects with a combined capacity of over 100 megawatts built.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Policy Support and Goals: This project aligns with Nova Scotia's commitment to achieve 80% renewable energy by 2030, driving local economic development and reducing reliance on fossil fuels, thus supporting the government's sustainability strategy.
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- Economic Benefits and Job Creation: The project is anticipated to generate approximately $3.86 million in electricity savings for the Annapolis Valley community, while also creating local job opportunities and fostering economic growth, enhancing residents' awareness of renewable energy.
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- Battery Cost Decline: The 90% drop in battery costs over the past 15 years supports rapid growth in renewable energy, making battery storage essential for balancing supply and demand, thus strengthening PowerBank's competitive position in the market.
- Community Solar Project: The project will operate as a hybrid community solar plus storage initiative, expected to provide power to dozens of local homes, allowing subscribers to earn credits on their electric bills, thereby reducing their cost per kilowatt-hour and enhancing customer loyalty.
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- Policy Support and Goals: This project aligns with Nova Scotia's commitment to achieve 80% renewable energy by 2030, driving local economic development and reducing reliance on fossil fuels, thus supporting the government's sustainability strategy.
- Technology and Collaboration: PowerBank partners with local engineering firm Trimac Engineering, leveraging its experience from over 50 MW of community solar projects in the U.S. to ensure efficient implementation and operation of the project.
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See More
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- Project Scale and Impact: The Brooklyn Community Solar Project, sized at approximately 6.86 MW, is expected to power 628 homes annually, significantly advancing local renewable energy usage and supporting Nova Scotia's goal of 80% renewable energy by 2030.
- Economic Benefits: The project is projected to generate approximately $3.86 million in electricity savings for the local community in Annapolis Valley, while also creating job opportunities, fostering economic growth, and enhancing local educational initiatives regarding renewable energy.
- Technical Collaboration: PowerBank has partnered with local engineering firm Trimac Engineering to ensure the project's successful execution, and this collaboration will further solidify PowerBank's leadership position in North America's community solar development sector.
- Future Development Potential: As one of only four community solar contracts awarded in Nova Scotia, this project is expected to pave the way for additional development contracts, enhancing PowerBank's competitiveness in the rapidly growing community solar market.
See More
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- Project Scale and Impact: The Brooklyn Community Solar Project, sized at 6.86 MW, is expected to power 628 homes annually, significantly advancing local renewable energy usage and supporting Nova Scotia's goal of 80% renewable energy by 2030.
- Economic Benefits and Job Creation: The project is anticipated to generate approximately $3.86 million in electricity savings for the Annapolis Valley community, while also creating local job opportunities and fostering economic growth, enhancing residents' awareness of renewable energy.
- Technology and Collaboration: PowerBank has partnered with local engineering firm Trimac Engineering to ensure the project's successful execution, and this collaboration will strengthen PowerBank's leadership position in the Canadian community solar market.
- Future Development Potential: As one of only four community solar contracts awarded in Nova Scotia, this project is expected to pave the way for future development contracts, further solidifying PowerBank's position in the rapidly growing community solar market.
See More
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- Project Overview: PowerBank Corporation has signed a lease for a 5 MW AC hybrid solar plus battery energy storage project in upstate New York, which is expected to qualify for incentives under NYSERDA's programs, enhancing the company's footprint in renewable energy.
- Growing Market Demand: The rapid growth of wind and solar power, coupled with rising electricity demand from data centers, has made battery storage essential, with a 90% drop in battery costs over the past 15 years providing a favorable market opportunity for the company.
- Implementation Plan: The company is initiating a preliminary screening analysis, and upon receiving interconnection approval, will commence the permitting and financing processes, with the project expected to operate as a hybrid community solar and energy storage project benefiting local residents.
- Strategic Development Outlook: This project will support New York's goal of achieving 10 GW of distributed solar and 6 GW of energy storage by 2030, further solidifying PowerBank's leadership position in the North American renewable energy market.
See More
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- Lease Agreement Signed: PowerBank Corporation has executed a lease for a 5 MW AC hybrid solar plus battery energy storage project in New York, which is expected to qualify for incentives under NYSERDA, thereby enhancing the company's growth in renewable energy.
- Battery Cost Decline: The 90% drop in battery costs over the past 15 years supports rapid growth in renewable energy, making battery storage essential for balancing supply and demand, thus strengthening PowerBank's competitive position in the market.
- Community Solar Project: The project will operate as a hybrid community solar plus storage initiative, expected to provide power to dozens of local homes, allowing subscribers to earn credits on their electric bills, thereby reducing their cost per kilowatt-hour and enhancing customer loyalty.
- Strong Development Pipeline: With over 100 MW of completed projects and a development pipeline exceeding 1 GW, PowerBank's proven expertise positions it for significant market share and business growth in the renewable energy sector.
See More
PowerBank's Strategic Entry into the AI Infrastructure Market
- Market Potential: The global modular data center market is projected to grow from approximately $29 billion in 2024 to $75-80 billion by 2030, with a compound annual growth rate of about 17-18%, and North America leading with a 41% market share, indicating strong demand for rapidly deployable and energy-efficient infrastructure.
- Collaboration Framework: PowerBank has signed a Letter of Intent with Nodiac to leverage its solar and Battery Energy Storage System (BESS) projects across North America for deploying distributed AI compute infrastructure, aiming to accelerate infrastructure development in the AI sector and enhance market competitiveness.
- Technological Innovation: Nodiac's
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