PowerBank to Deploy 60 MWh Storage via Three 5 MW AC Projects in Upstate New York
PowerBank executed three lease agreements for battery energy storage systems in upstate New York, totaling 60 MWh capacity with each 5 MW AC unit discharging over four hours. The projects qualify for NYSERDA's Retail Storage Incentive Program and New York's VDER compensation under state distributed energy incentives.
1. Project Agreements and Capacity
PowerBank secured leases for Round Hill Rd, Montana Rd and Genesee Rd battery energy storage projects in upstate New York, each offering 5 MW AC capacity with four-hour discharge, totaling 60 MWh of combined capacity.
2. Incentives and Market Context
The projects qualify for the New York State Energy Research and Development Authority Retail Storage Incentive Program and compensation under the state's Value of Distributed Energy Resources mechanism, advancing targets of 10 GW distributed solar and 6 GW storage by 2030.
3. Execution Timeline and Risks
PowerBank is pursuing interconnection approval, permits and financing to begin construction, leveraging its experience delivering over 100 MW of completed projects and a development pipeline exceeding 1 GW, while facing risks related to regulatory changes, financing availability, and construction execution.