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PRNewsWire
1 month ago
$4 Million USD Received in PowerBank $41 Million USD Transaction with Solar Advocate Development
$41 Million USD Transaction Reinforces PowerBank's Growth Model; Seven-Year Strategic Alliance Expands with Three Additional Community Solar Facilities PowerBank Strengthens New York Market Position with 11th Solar Advocate Development Partnership Project 16.87 MW of Total Projects Included in Transaction including Elmira, Jordan Road 1, and Jordan Road 2 Projects; Partnership Since 2018 Validates PowerBank's Development Excellence TORONTO , Dec. 24, 2025 /PRNewswire/ - PowerBank Corporation (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: 103) ("PowerBank" or the "Company"), a leader in North American energy infrastructure development and asset ownership, today announced that further to its press release of December 22, 2025 , the Company has received the first $4 million USD payment from Solar Advocate Development LLC (the "Owner") for the development of these projects. The latest collaboration encompasses three Community Solar facilities—Elmira, Jordan Road 1, and Jordan Road 2 (collectively, the "Projects")—in a transaction valued at approximately $41 million USD that includes full engineering, procurement, and construction services through commercial operation.