PowerBank Subsidiary Signs Agreement with Honeywell for O&M Services
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 30 2026
0mins
PowerBank's (PBK) wholly owned subsidiary Abundant Solar Power has executed an Operations and Maintenance Services Agreement with Honeywell (HON) to provide operations and maintenance services for a 21 MW portfolio of three projects named SB 13-1, SB 13-2, and SB-14. The projects are built on an industrial brownfield owned by Honeywell, which is regulated by the New York State Department of Environmental Conservation. The Projects have been moved from Honeywell International to Honeywell Aerospace following the planned spinoff of Honeywell Aerospace on June 29. The agreement outlines the roles, responsibilities, and performance standards governing the long-term management of the Projects. The agreement also defines reporting obligations, cost responsibilities, and coordination protocols between the parties.
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About PBK
PowerBank Corp, formerly SolarBank Corporation, is an independent renewable and clean energy project developer and owner focusing on distributed and community solar projects in Canada and the United States. The Company develops solar, battery energy storage systems (BESS) and EV charging projects that sell electricity to utilities, commercial, industrial, municipal and residential off-takers. It has a diverse portfolio of projects across multiple North America markets including projects with utilities, host off-takers, community solar, and virtual net metering projects. The Company has a potential development pipeline of over one gigawatt and has developed renewable and clean energy projects with a combined capacity of over 100 megawatts built.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Commercial Operation: The project commenced commercial operations in December 2025 and has been selling power to the grid under Alberta's Small Scale Generation program, addressing the rising electricity demand in the region.
- Market Demand: The Alberta Electric System Operator reported over 20,000 MW of data center load requests against a current peak demand of approximately 12,000 MW, highlighting a significant surge in power demand, positioning PowerBank's expertise as crucial to meeting this need.
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See More
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- Project Completion: PowerBank Corporation has successfully completed a 1.45 MW DC rooftop solar project in Calgary, Alberta, receiving the final completion certificate, which signifies a notable achievement in independent energy development.
- Commercial Operation: The project commenced commercial operations in December 2025 and has been selling power to the grid under Alberta's Small Scale Generation program, addressing the rising electricity demand in the region.
- Market Demand: The Alberta Electric System Operator reported over 20,000 MW of data center load requests against a current peak demand of approximately 12,000 MW, highlighting a strong demand for power, positioning PowerBank's expertise to meet this need effectively.
- Development Potential: With 100 MW of completed projects across Alberta, Ontario, and other markets, PowerBank's cross-jurisdictional development and construction expertise is expected to facilitate further expansion of its energy project pipeline in the future.
See More
PowerBank Completes Calgary Solar Project
- Project Completion: PowerBank Corporation has successfully completed a 1.45 MW DC rooftop solar project in Calgary, Alberta, receiving the final completion certificate, which signifies a notable achievement in independent energy development.
- Commercial Operation: The project commenced commercial operations in December 2025 and has been selling power to the grid under Alberta's Small Scale Generation program, addressing the rising electricity demand in the region.
- Market Demand: The Alberta Electric System Operator reported over 20,000 MW of data center load requests against a current peak demand of approximately 12,000 MW, highlighting a significant surge in power demand, positioning PowerBank's expertise as crucial to meeting this need.
- Growth Potential: With 100 MW of completed projects across Alberta, Ontario, and other markets, PowerBank's cross-jurisdictional development and construction expertise are expected to enable the company to expand its development pipeline and meet the increasing demand for renewable energy.
See More
PowerBank's Community Solar Project Achieves Commercial Operation
- Project Operational Success: PowerBank's 7.01 MW DC / 5 MW AC community solar project SB-14 has achieved commercial operation in upstate New York, marking a significant milestone in the company's growth and leadership in renewable energy.
- Contract Value: The project is part of a $41 million engineering, procurement, and construction (EPC) agreement with Honeywell, covering a total of 21 MW DC across three community solar projects, showcasing the company's strength in large-scale project development.
- Clean Energy Contribution: With SB-14 now operational, the community benefits from a total of 14.02 MW of clean energy, allowing dozens of renters and homeowners to save on electricity bills through community solar subscriptions, thereby promoting the adoption of renewable energy.
- Broad Market Outlook: PowerBank's portfolio includes over 100 MW of completed projects and a development pipeline exceeding 1 GW, indicating the company's robust capability to meet the rapidly growing demand for on-site power generation, particularly driven by AI compute infrastructure and modular data centers.
See More
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- Project Launch: PowerBank has successfully launched the 7.01 MW DC community solar project SB-14 in upstate New York, part of a $41 million EPC agreement with Honeywell, expected to provide clean energy for approximately 875 homes annually, significantly enhancing local renewable energy usage.
- Commercial Operation Achieved: The project's commercial operation marks a successful collaboration between PowerBank and Honeywell, strengthening the company's position in the community solar market and laying the groundwork for future project developments.
- Environmental Benefits: Located on an industrial brownfield owned by Honeywell and regulated by the New York State Department of Environmental Conservation, the SB-14 project demonstrates the feasibility of developing renewable energy projects on constrained land, promoting environmental sustainability.
- Market Outlook: With proven expertise in solar energy and a development pipeline exceeding 1 GW, PowerBank is well-positioned in the rapidly growing electricity demand market, particularly driven by AI compute infrastructure and modular data centers, which is expected to further expand its market share.
See More
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- Use of Proceeds: The net proceeds from this offering will be allocated to the company's IPP project portfolio, working capital, and general corporate purposes, indicating a proactive approach to future project expansion aimed at improving overall operational efficiency.
- Underwriter Role: A.G.P./Alliance Global Partners acted as the sole placement agent for this offering, ensuring a smooth financing process and further solidifying its professional standing in the capital markets.
- Market Outlook: With unprecedented electricity demand, PowerBank's potential development pipeline exceeding one gigawatt and over 100 megawatts of projects already built, the company demonstrates strong growth potential, which is expected to yield substantial long-term returns.
See More
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- Use of Proceeds: The net proceeds from this offering will be allocated to support the company's independent power producer project portfolio, working capital, and general corporate purposes, ensuring operational flexibility and financial stability in the rapidly growing digital economy.
- Underwriter Role: A.G.P./Alliance Global Partners acted as the sole placement agent for this offering, facilitating the smooth execution of the capital raise and increasing market awareness of PowerBank's initiatives.
- Market Positioning: PowerBank holds a unique position in the North American energy sector with a potential development pipeline exceeding one gigawatt and over 100 megawatts of projects already built, enabling it to meet the surging electricity demand driven by rapid advancements in digital infrastructure.
See More
