PowerBank Corporation has begun construction mobilization for nine new solar and battery projects across New York State, adding 42.24 MW of solar capacity and 21.76 MWh of battery storage to its portfolio. The projects—Jordan Rd 1 and 2, Elmira, Newark, and Camp Smith—are slated to generate enough clean energy to power roughly 5,280 homes each year and will operate as community‑solar sites that allow local subscribers to purchase renewable power directly.
The mobilization marks a key step in PowerBank’s strategy to shift from a traditional solar developer to a long‑term independent power producer (IPP). By moving these assets into construction, the company is accelerating the development of its 1 GW pipeline and reinforcing its presence in a state that has set ambitious renewable‑energy goals under the Climate Leadership and Community Protection Act.
"This successful capital raise helps support PowerBank's growth trajectory and strategic vision. The proceeds provide us with financing that has helped and will help advance our robust development pipeline, focused on solar and battery energy storage, while strengthening our balance sheet. As we expand our owned asset portfolio and establish ourselves as a growing independent power producer, we remain committed to delivering value to our shareholders while advancing the clean energy transition," said Dr. Richard Lu, President and CEO, in a February 3 2026 press release.
"2025 was an exceptional year for PowerBank, marked by transformative growth both on Earth and beyond. We successfully evolved from SolarBank into PowerBank, reflecting our expansion from a solar developer into a comprehensive renewable energy company and independent power producer. As an Independent Power Producer, we achieved remarkable 1,508% growth in IPP revenues, demonstrating the strength of our asset ownership strategy," added Dr. Lu in a February 17 2026 release.
These projects not only bring the company closer to its 1 GW development target but also support New York’s clean‑energy objectives by expanding distributed solar capacity and providing community‑solar options that increase access to renewable power for local residents. The construction mobilization therefore strengthens PowerBank’s long‑term revenue base and positions it to capitalize on the state’s supportive regulatory environment.
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