PowerBank Corporation has signed a lease agreement for the 5 MW AC NY-Cloverdale Rd hybrid solar-plus-storage project in upstate New York. The project is expected to qualify for NYSERDA’s NY-Sun and Retail Storage Incentive programs and will undergo interconnection screening before advancing to permitting and financing. Designed as a hybrid community solar and storage system, it will provide subscriber bill credits and support New York’s distributed solar and storage targets for 2030.
PROJECT SNAPSHOT
| Field | Value | |
|---|---|---|
| Project | SFF-06 BESS | |
| Capacity | 4.99 MW (4.74 MW contracted) | |
| Location | Ontario | Canada |
| Technology | EVLO lithium-ion BESS (9 containers) | |
| Status | Final commissioning; COD expected January 2026 | |
| Owner | 1000234763 Ontario Inc. (PowerBank 50%; Ontario First Nations partners 50%) | |
| Offtake | 22-year IESO capacity contract (Expedited LT RFP) | |
| Contracted Revenue | USD 1 | 221 per MW per business day |
Toronto-based renewable energy developer, PowerBank Corporation, has executed a lease agreement for the 5 MW AC NY-Cloverdale Rd hybrid solar and battery storage project planned in upstate New York. The project is expected to qualify for incentives under the New York State Energy Research and Development Authority (NYSERDA) NY-Sun Program and the Retail Storage Incentive Program.
The company stated that it plans to begin preliminary screening analysis for interconnection to assess system impacts, hosting capacity, and connection requirements. After the review, it expects to proceed with permitting and pursue third-party financing, following standard development steps for distributed solar and storage projects in New York.
According to the company, the project is expected to function as a hybrid community solar and storage system that supplies shared solar generation through the local grid. In this structure, subscribers receive bill credits based on their assigned share of output. This allows participation without on-site installations and can lower per-kilowatt-hour costs compared with standard utility rates.
PowerBank reports completing more than 100 MW of projects and having a development pipeline of over 1 GW. The company states that its partnerships and development capabilities support the execution of new distributed solar and storage projects. The project contributes to New York’s goal of reaching 10 GW of distributed solar and 6 GW of energy storage by 2030. New York leads the United States in community solar capacity and reached its 6 GW solar target under the New York State Climate Act in late 2024.
The company has identified several risks associated with the NY-Cloverdale Rd project. These include interconnection approval outcomes, availability of required permits, community solar contract execution, construction risks, and access to suitable financing. The company also noted that changes to incentive structures or policy frameworks could affect the project’s economics. These factors reflect typical development considerations for distributed solar and storage assets in the region.