Financed facility population, sponsor pipeline, named public sites and utility queues are separate objects. Convergent remains discovery #2, but zero named public projects are currently bound to its 16-project NYGB facility population. See the population gate.
Technical coverage is not enough. The first commercial gate is now control-seat ownership: who actually posts or pays the interconnection instrument, who maintains its state, and who independently re-performs the evidence?
| Context | Current state |
|---|---|
| PowerBank / NY Green Bank | First discovery target. Borrower payment seat publicly observed; New York adapter intentionally unbuilt. |
| Headwater / Overlay | Control-seat discovery. ERCOT core adjacent; specialist-lender ownership unresolved. |
| Geenex / Great Bay | Borrower preflight demoted. Great Bay publicly operates third-party posting/agency. |
No adapter build, price, or pilot follows until discovery shows a nonduplicative control gap and plausible measurable value.
PowerBank/NYGB public project-membership research is now stopped: the closing disclosure conflicts at 34 MW versus 50 MW and reviewed filing inventories expose no financed-project schedule.
Before private data or adapter work, the current margin/value rules require a plausible path to measured value at least 5× delivery COGS.
Greenwood/Horning provides a public New York replay where utility funding milestones predate the lender facility. Preserve chronology; do not infer reimbursement or draw treatment.
Greenwood/Horning shows that public reconstruction is a data-minimization asset, not buyer value. Prefill public facts; measure only private actual-paid/facility/draw/review delta.
March 31, 2026 public control disclosures raise discovery information value but contribute $0 buyer value and do not establish current state or NYGB workflow causation. Current remediation/adviser work is a potential kill signal.