PowerBank Announces Commercial Operation Of Its SB-14 Community Solar Project In Upstate New York

The Project is built on an industrial brownfield owned by Honeywell, which is regulated by the New York State Department of Environmental Conservation.

The Project has been moved from Honeywell International Inc. to Honeywell Aerospace Inc., following the planned spinoff of Honeywell Aerospace on June 29, 2026.

PowerBank originated the site and developed SB-14 as part of a three-project portfolio alongside SB 13-1 and SB 13-2.

This is the second project from the portfolio to reach commercial operation, and brings the total to 14.02 MW of clean energy now being generated for the community.

In September 2023, the Company completed the sale of the Projects to Honeywell and entered into an EPC agreement to build the Projects through to commercial operation.

The total transaction value, including the sale of the Projects and the EPC agreement, is approximately US$41 million.

PowerBank has retained an operations and maintenance contract for the Projects.

Community solar allows dozens or even hundreds of renters and homeowners to save money from the electricity generated by the project.

By subscribing to a community solar project, a homeowner earns credits on their electric bill every month from their share of the solar energy generated, accessing the financial and environmental benefits of solar without installing panels on their home.