Mergers & Acquisitions ·
PowerBank Corporation acquired two New York community solar projects, Highway 28 and Gainesville, for a combined…
SUUNPOWERBANK Corp
PowerBank Corporation acquired two New York community solar projects, Highway 28 and Gainesville, for a combined purchase price of US$2,396,068 payable in milestone payments. The 6.9 MW Highway 28 project is expected to be construction-ready in Q3 2026 with a total construction value of approximately US$17 million and expected federal Investment Tax Credits (ITC) of US$8 million. It has secured interconnection, permits, and NYSERDA incentives totaling approximately US$2.4 million. The 7 MW Gainesville project is expected to be ready in 2027 with a construction value of approximately US$15.5 million and expected ITCs of US$5 million; it faces an ongoing Article 78 lawsuit regarding variance denial. Both projects were previously sold to an investor in January 2025 and reacquired by PowerBank, supporting its strategy toward asset ownership and recurring revenue generation. PowerBank Corporation is a vertically integrated independent North American energy company that develops, builds, owns, and operates solar and battery energy storage systems.