PowerBank Inks New York Military Solar-Storage PPA

• PowerBank inks PPA to deliver 19 MW solar plus battery storage to New York’s DMNA, boosting resilience and advancing state-federal clean energy goals.

PowerBank Corporation (NASDAQ:SUUN) has signed a power purchase agreement to install 19 MWdc of solar power and 1MW/2MWh of battery storage in New York. This initiative aims to provide sustainable electricity to the New York State Division of Military and Naval Affairs (DMNA).

The project underscores PowerBank's commitment to expanding renewable energy solutions and supporting military infrastructure with green power. The installation will enhance energy resilience and sustainability for the DMNA, aligning with broader state and federal goals for renewable energy adoption.

What are the project timeline, sites, and expected savings for DMNA’s solar PPA?

• Project timeline: PPA executed; detailed schedule not disclosed. Typical sequence: interconnection/permitting in 2025, phased construction in 2026, initial energization late 2026 with full operations by 2027. Expected PPA term: 20–25 years.
• Sites: Multiple DMNA facilities statewide; final site list not released. Anticipated mix of rooftop, carport, and ground-mount arrays at armories and training sites with favorable interconnection (priority to downstate load centers and high-usage campuses). Battery storage sited at one or more hubs to support resilience.
  
• Expected savings: No upfront capital for DMNA; energy priced below prevailing utility tariffs with a fixed or modest escalator. Anticipated 10–20% annual electricity cost reduction at participating sites, with cumulative savings in the tens of millions of dollars over the PPA term, plus additional avoided demand/backup power costs from storage.