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Honeywell-backed community solar project SB-14 reaches commercial operation in upstate New York
The Apex Times

THE APEX TIMES

Business/The Apex Times/Jul 2, 7:22 AM EDT

Honeywell-backed community solar project SB-14 reaches commercial operation in upstate New York

PowerBank says its 7.01 MW DC / 5 MW AC SB-14 site has started operating under an EPC deal with Honeywell, selling NYSERDA credits to local subscribers.

By The Apex Times Newsroom2 min readAI-assisted Apex article

PowerBank Corporation said its Honeywell Community Solar Project SB-14 has achieved commercial operation in upstate New York, marking the latest step in a portfolio of community solar projects developed for Honeywell under an engineering, procurement and construction (EPC) contract.

SB-14 is a ground-mount solar facility rated at 7.01 megawatts (MW) direct current (DC) and 5 MW alternating current (AC). PowerBank said it is designed to generate enough clean energy to supply roughly 875 homes annually, and will operate as a community solar site that sells credits to subscribers.

The company attributed SB-14’s delivery to its construction work under an approximately US$41 million EPC agreement that covers a broader Honeywell portfolio of three community solar projects totaling 21 MW DC. PowerBank said SB-14 is the second project from that set to reach commercial operation.

PowerBank said it originated and developed SB-14 as part of a three-project portfolio alongside SB 13-1 and SB 13-2. The company said the successful start of SB-14 brings total operating capacity from the portfolio to 14.02 MW of clean energy now being generated.

The announcement also said the transaction structure involved both a sale and build contract. PowerBank said it completed the sale of the projects to Honeywell in September 2023, then entered into an EPC agreement to bring the projects through to commercial operation, with the combined transaction value including the sale and EPC work totaling about US$41 million.

Beyond construction, PowerBank said it has retained an operations and maintenance (O&M) contract for the projects, which typically covers ongoing performance monitoring, routine maintenance, and service arrangements after the facility begins operating. The company’s release did not provide additional detail on the term length or the economics of that O&M arrangement.

For Honeywell, projects like SB-14 fit into a strategy of using renewable energy procurement and credits rather than building every asset directly. Community solar programs allow subscribers to receive benefits tied to the output of a shared solar plant, and public program participation can be central to how revenues and credit sales are structured.

The company did not disclose several items that investors and observers may look for, including the expected contract term for the subscriber-credit arrangements, the specific credit pricing or revenue target, or performance guarantees for SB-14. The release also did not break out how SB-14’s output is expected to affect Honeywell’s energy targets or reporting, beyond describing the portfolio and the commercial operation milestone. Looking ahead, the next milestone to watch is whether the remaining portfolio projects continue progressing to commercial operation on schedule and whether PowerBank provides further updates on operating performance under the O&M contract.

Why It Matters

  • Community solar is increasingly used to expand renewable generation capacity in regions where direct power purchase arrangements can be complex. Commissioning milestones like SB-14 show continued project pipeline execution.
  • The EPC structure described in the release links Honeywell’s renewable procurement efforts to an outside developer’s build-out schedule, with commercial operation as a key handoff point.
  • Because PowerBank also retained operations and maintenance responsibilities, near-term results will depend on how the facilities perform after start-up.
  • The portfolio framing (multiple projects tied to one agreement) means progress on any single site can affect how quickly the broader contracted capacity is realized.

Sources

Key Facts

  • PowerBank said its SB-14 community solar project in upstate New York achieved commercial operation.
  • SB-14 is rated at 7.01 MW DC / 5 MW AC and is a ground-mount facility.
  • PowerBank said SB-14 can power approximately 875 homes with clean energy annually, based on the company’s stated assumptions.
  • The project is part of a three-project Honeywell portfolio totaling 21 MW DC under an approximately US$41 million EPC agreement.
  • PowerBank said it originated and developed SB-14 along with SB 13-1 and SB 13-2, and that SB-14 is the second project from the portfolio to reach commercial operation.
  • The announcement said PowerBank completed the sale of the projects to Honeywell in September 2023 and then entered into the EPC agreement to build through commercial operation.
  • PowerBank stated that SB-14 will operate as a community solar site selling credits to subscribers under the NYSERDA NY-Sun Program.

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