Disseminated on behalf of PowerBank Corporation
PowerBank (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: GY2), a premier developer and owner of renewable and clean energy projects, specializing in distributed and community solar initiatives throughout Canada and the U.S., has announced two new U.S. developments in New York and in Pennsylvania, as it continues expanding its North American footprint.
The 2.8 MW Day Hollow solar project in upstate New York has secured site control, allowing it to move forward into the interconnection study phase, according to a company news release (https://ibn.fm/f8teZ). The project is expected to qualify under New York’s Value of Distributed Energy Resources (“VDER”) compensation mechanism, which sets fair payments for renewable power fed into the grid. At an estimated average rate of $0.0971/kWh in its first year, the framework adds financial certainty to the project’s future cash flow.
Once permitted and financed, Day Hollow will be built as a community solar project, delivering electricity to the grid and offering subscriber – renters, businesses, and homeowners – bill credits and savings without requiring rooftop solar installations. PowerBank estimates the site could generate enough clean energy to supply 374 households.
The project supports New York’s Climate Leadership and Community Protection Act, which sets a target of 6 GW of solar capacity by 2025. The state is already the largest U.S. market for community solar, accounting for nearly one-third of the 6.2 GW installed nationwide. By integrating into this framework, PowerBank positions itself to capture both environmental and economic benefits while contributing to state policy goals.
Shortly before the New York announcement, PowerBank revealed that its 3.16 MW Honesdale project in Pennsylvania had also secured site control and is advancing to the interconnection phase (https://ibn.fm/8guk3). Like Day Hollow, Honesdale is planned as a community solar initiative, but its development depends on enabling legislation.
Pennsylvania’s House of Representatives passed House Bill 1842 in 2024 and again in May 2025, this time with amendments, to authorize community solar programs. The bill is currently under review in the Senate. If passed, it would open the state to companies like PowerBank, which could bring clean energy options to a broad range of households, including lower-income residents.
PowerBank brings significant execution experience to these projects. The company has already completed more than 100 MW of renewable projects across North America and is developing a pipeline exceeding 1 GW. Its business model spans utility-scale, commercial, municipal, and residential off-takers, diversifying its revenue base.
The company also integrates Battery Energy Storage Systems (“BESS”) into its development strategy, offering flexibility and grid stability alongside solar generation. This mix of community-based projects and energy storage positions PowerBank to meet evolving needs in the North American energy transition.
PowerBank emphasizes that its projects can make renewable energy accessible to renters and households that would not otherwise benefit from rooftop installations. In turn, this expands the market reach for solar, particularly in states with ambitious climate and energy goals.
For more information, visit the company’s website at https://PowerBankCorp.com.
This report contains forward looking information. Please refer to the press releases entitled “PowerBank Advances 2.8 MW Day Hollow Solar Project in New York, With Capacity to Power 374 Homes” and dated September 2, 2025, and “PowerBank Advances 3.16 MW Honesdale Project in Pennsylvania” and dated August 28, 2025, for additional details on the information, risks and assumptions.
NOTE TO INVESTORS: The latest news and updates relating to SUUN are available in the company’s newsroom at https://ibn.fm/SUUN
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