en.Wedoany.com Reported - PowerBank Corporation (Nasdaq: SUUN; Cboe Canada: SUNN; Frankfurt: 103), a North American energy infrastructure developer, announced that it has signed lease agreements for three battery energy storage system (BESS) projects in Upstate New York, namely the Round Hill Rd, Montana Rd, and Genesee Rd projects. Each project can host up to 5 MW AC with a discharge duration of over 4 hours, bringing the combined battery energy storage capacity of the three projects to 60 MWh. These projects are expected to be eligible for incentives under the New York State Energy Research and Development Authority (NYSERDA) Retail Energy Storage Incentive Program and to receive compensation under New York's Value of Distributed Energy Resources (VDER) mechanism.
According to the Global Energy Assessment 2026 released by the International Energy Agency (IEA), 108 GW of battery energy storage capacity was newly deployed globally in 2025, a 40% year-on-year increase, bringing total installed capacity to 11 times the 2021 level. Battery energy storage has become one of the fastest-growing power technologies today. In the United States, 18.9 GW was installed in 2025, a 52% increase over 2024, with an estimated 500 GWh of capacity expected to be added between 2026 and 2031. Two major factors are driving this growth: the need to balance a grid increasingly powered by variable renewable energy, and the growing electricity demand from AI data centers—the latter identified as one of the drivers for the 353 GWh of new global energy storage capacity in 2026. California, Massachusetts, and New York are the leading U.S. energy storage markets, supported in part by state-level programs such as the NYSERDA Retail Energy Storage Incentive Program.
As part of the interconnection process, PowerBank is conducting preliminary screening analyses. Assuming interconnection approval is obtained, the company will advance the permitting process and secure the necessary financing for project construction.
With over 100 MW of completed projects and a development pipeline exceeding 1 GW, PowerBank has a proven track record of project execution. The company delivers reliable, high-impact renewable energy solutions through strategic partnerships and institutional-grade development capabilities.
The aforementioned projects contribute to advancing New York State's goal of achieving 10 GW of distributed solar and 6 GW of energy storage by 2030. The state leads the nation in community solar capacity, having already met the Climate Act's 6 GW solar goal in the fall of 2024.
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