PowerBank Corporation, a North American energy infrastructure developer and asset owner, announced that its 5.7 MW North Main St ground-mount solar project in upstate New York has completed its Coordinated Electric System Interconnection Review (CESIR) and can now move forward to the next milestone: permitting the project site. The project is expected to qualify for New York’s Value of Distributed Energy Resources (VDER) compensation mechanism under Case 15-E-0751, with an estimated first-year rate of US$0.0971/kWh, ensuring fair compensation for clean energy delivered to the grid.
Upon securing permits and financing, PowerBank will commence construction of the project as a community solar initiative. This model enables renters, businesses, and homeowners to subscribe to the solar farm and receive bill credits without installing equipment on-site. By feeding clean energy directly into the local grid, the North Main St project provides an accessible pathway for New Yorkers to participate in the clean energy transition.
PowerBank brings extensive experience, having completed over 100 MW of projects with a development pipeline exceeding 1 GW. The North Main St project supports New York’s Climate Leadership and Community Protection Act goal of 6 GW of solar capacity by 2025, contributing to the state’s leadership in community solar. As with all development projects, risks include obtaining necessary permits, financing, and potential changes to government incentives or policy support for solar. For more information on assumptions and risk factors, see the “Forward-Looking Statements” section.
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