Dec. 24 at 4:54 PM
PowerBank Corporation announced it has received the initial
$4 million payment from a
$41 million transaction with Solar Advocate Development LLC covering three community solar projects in New York. The Elmira, Jordan Road 1, and Jordan Road 2 projects have a combined clean-energy capacity of 16.87 MW. PowerBank will deliver full engineering, procurement, and construction (EPC) services through commercial operation, with the remaining transaction value to be paid as construction milestones are achieved.
This marks the 11th project completed with Solar Advocate Development since their partnership began in 2018, strengthening PowerBank’s footprint in the New York market. The projects are fully advanced, having secured utility interconnection agreements, permits, NYSERDA qualification, site control, and finalized engineering designs. CEO Dr. Richard Lu said the deal validates the company’s development expertise and strong reputation in New York.
$SUUN