PowerBank Corporation has secured a lease for a 5‑MW AC hybrid solar plus battery energy storage project, the NY‑Holland Glnwd, in New York. The lease, announced on January 15 2026, positions the asset to qualify for NYSERDA’s NY‑Sun and Retail Energy Storage Incentive programs, as well as federal Investment Tax Credits under the Inflation Reduction Act and the One Big Beautiful Bill Act of 2025.
The project is designed to operate as a hybrid community solar plus energy storage asset, allowing local electricity customers to subscribe and receive bill credits for the solar generation while the battery buffers supply during periods of low sun or high demand. The expected commercial operation date is January 2026, aligning with the company’s broader pipeline of distributed renewable assets that currently exceed 1 GW.
PowerBank’s strategy has evolved from a traditional solar developer to a power infrastructure provider for data centers and other digital‑economy customers. Securing this lease demonstrates the company’s growing expertise in navigating complex incentive landscapes and its ability to secure financing for new developments. The firm recently obtained an $8 million loan from NY Green Bank to fund interconnection deposits for a 50‑MW portfolio of distributed solar and battery projects in New York, underscoring its financial strength and commitment to expanding its asset base.
The NY‑Holland Glnwd project supports New York’s Climate Leadership and Community Protection Act goals, contributing to the state’s target of 10 GW of solar capacity by 2030. By leveraging state and federal incentives, PowerBank can reduce project costs and improve return on investment, reinforcing its shift toward owning and operating power assets that generate recurring revenue. The company’s recent Q1 2026 earnings showed revenue growth and a turnaround to profitability, indicating that the firm is executing its strategy effectively and is well positioned to capitalize on the growing demand for hybrid solar‑storage solutions.
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