PowerBank Shares Rise After $8M Loan Secured

Dow Jones2025-12-31

By Adriano Marchese

PowerBank has entered an $8 million revolving credit facility with NY Green Bank to fund solar-power and energy-storage projects.

Shares trading on the Nasdaq rose 6.4% to $1.76.

The Toronto-based energy-infrastructure developer said Wednesday the loan will be used to fund interconnection deposits for an initial portfolio of 50 MW of distributed solar power and battery-energy storage projects located in New York state.

An interconnection deposit is money developers pay to utilities to connect a new solar or battery project to the grid.

NY Green Bank is a division of the New York State Energy Research and Development Authority, a state-sponsored specialized fund that invests in New York State's clean-energy markets.

PowerBank said it will add projects to the portfolio beyond the initial 50 megawatts as it is ready.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

December 31, 2025 09:50 ET (14:50 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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