en.Wedoany.com Reported - PowerBank Corporation (NASDAQ: PBK; Cboe CA: PBK; Frankfurt Stock Exchange: 103), an independent North American energy development and asset ownership company, announced that its 3.1 MW NY-South Park community solar project at a closed landfill in Buffalo, New York, has been approved for an $841,555 incentive through the New York State Energy Research and Development Authority (NYSERDA) NY-Sun program.
The project is also expected to qualify for up to $730,234 in additional incentives through the NY-Sun Inclusive Community Solar Adder and the Retail Energy Storage Incentive Program. Combined, these two awards bring the total potential NYSERDA funding for the project to up to $1,571,789.
The NY-South Park project is expected to generate enough clean energy annually to power approximately 388 homes. Once financing and required permits are secured and construction is completed and operational, the project will operate as a community solar project. Community solar refers to solar photovoltaic systems that connect directly to the local power grid via distribution lines. After the system is placed into service and generates electricity by the utility company, clean power is fed into the local grid, enabling dozens or hundreds of tenants, homeowners, and electricity customers to subscribe to the project and receive bill credits based on their share of the solar generation, allowing them to benefit from solar energy without installing panels on their own rooftops.
The NY-Sun program is a public-private partnership aimed at advancing the solar industry and reducing the cost of solar technology deployment in New York State. Led by NYSERDA, the program expands residential, commercial, and community solar adoption through incentives and financing, while supporting local jobs and the state's clean energy goals.
PowerBank's ability to secure government incentives for its New York projects, including previously announced NYSERDA awards for the Elmira, Jordan Rd 1, Jordan Rd 2, and Geddes projects, reflects the institutional-grade development capabilities underpinning the company's strategic evolution. As announced on June 1, 2026, PowerBank has designated AI computing infrastructure and modular data center development as core strategic growth directions alongside its solar and battery storage business. This new direction directly benefits from the company's expanding portfolio of permitted and incentivized renewable energy projects across North America. With proven experience navigating state-level incentive programs, having completed over 100 MW of projects and a development pipeline exceeding 1 GW, PowerBank is positioned to provide power solutions for the digital economy amid rising electricity demand.
The project contributes to New York State's goal of achieving 10 GW of solar capacity by 2030. New York leads the United States in community solar capacity, having already met the 6 GW solar target set by the New York State Climate Act in the fall of 2024.
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