en.Wedoany.com Reported - PowerBank Corporation, a North American independent energy development and asset ownership company, announced that its wholly-owned subsidiary, Abundant Solar Power Inc., has signed an operations and maintenance (O&M) service agreement with Honeywell International Inc. (NASDAQ: HON) to provide O&M services for a 21 MW portfolio consisting of three projects: SB 13-1, SB 13-2, and SB-14. These projects are located on industrial brownfield sites owned by Honeywell, which are regulated by the New York State Department of Environmental Conservation. Following the planned spin-off of Honeywell Aerospace on June 29, 2026, ownership of these projects has been transferred from Honeywell International Inc. to Honeywell Aerospace.
The agreement covers the roles, responsibilities, and performance standards for the long-term operation of project management. It specifies requirements for routine inspections, maintenance, repairs, and operational monitoring to ensure efficient project operation and compliance with applicable regulations. The agreement also defines reporting obligations, cost responsibilities, and coordination mechanisms between the parties, setting clear expectations for environmental protection, safety, and system reliability throughout the term of the agreement.
Andrew van Doorn, President and Chief Operating Officer of PowerBank, stated that securing the O&M agreement for the Honeywell portfolio is a natural extension of the work the team has executed from the outset. He noted that after a project undergoes development, permitting, construction, and commissioning, the team has the deepest understanding of it, and this knowledge is key to achieving reliable long-term operations. This agreement reflects the strength of the company's full-cycle platform and Honeywell's trust in PowerBank, not only in terms of megawatt power supply but also sustained performance.
In September 2023, the company completed the sale of the projects to Honeywell and entered into an engineering, procurement, and construction (EPC) agreement to bring the projects to commercial operation. This agreement was reached following the announcement of the successful commissioning of the SB 13-2 project.
The agreement with Honeywell for the project portfolio demonstrates PowerBank's vertically integrated business model, which encompasses development, EPC, and O&M services to deliver megawatt-scale power. Currently, PowerBank has developed and constructed over 100 MW of clean energy projects in North America, with a pipeline capacity exceeding 1 GW. Its positioning serves not only traditional utility and community solar offtakers but also the rapidly growing demand for reliable on-site power generation driven by AI computing infrastructure and modular data centers.
