PowerBank Advances 15 NY Distributed Solar And Storage Projects, Adding 67 MW DC Solar And 11 MWh Storage Capacity

$65 million USD of Investment Tax Credit Eligibility

Projects to Power Equivalent of 7,500 Homes

Community Solar and Energy Storage Projects Remain Eligible for 30% Investment Tax Credit and Potential Bonus Adders

TORONTO, Dec. 4, 2025 /PRNewswire/ - PowerBank Corporation (NASDAQ:SUUN) (Cboe CA: SUNN) (FSE: 103) ("PowerBank" or the "Company"), a leader in North American energy infrastructure development and asset ownership, is pleased to share additional updates following the recent announcement of the safe harbor of 15  late-stage distributed solar and energy storage projects (the "Projects") across New York state. The Projects are expected to bring approximately 67 MW DC of solar and 11 MWh of energy storage to the State.

For 14 of the 15 Projects, the Company has secured positive interconnection studies with the local utility. The Company has been working to complete the permitting process and secure the necessary financing for the construction of the Projects.

PowerBank Corporation has the option to continue as the owner on some or all of the Projects under its expanding portfolio as an Independent Power Producer and intends on delivering the full EPC scope for the Projects whether it retains ownership or not.

The Projects range in size from 500 kW DC to 7 MW DC for distributed solar, and 1.2 to 8 MWh for battery energy storage systems.  The combined power from the 15 Projects could power approximately 7,500 homes in the State.

Once completed, the Projects will be operated as either community solar or net-metered projects. Community solar is a group of solar panels with access to the local electricity grid. Once the panels are turned on and generating electricity, clean energy from the site feeds into the local power grid. Depending on the size and number of panels the project has, dozens or even hundreds of renters and homeowners can save money from the electricity that is generated by the project. By subscribing to a project, a homeowner earns credits on their electric bill every month from their portion of the solar that's generated by the project, accessing the benefits of solar without installing panels on their home. This allows homeowners to realize a reduced cost per kW/hour from the power they consume versus standard utility rates.