PowerBank Corporation (NASDAQ: SUUN) shares traded flat Tuesday. The company, a leader in North American energy infrastructure development and asset ownership, is pleased to announce the spring mobilization of nine projects in NY State, including Jordan Rd 1 and 2, Elmira, Newark and Camp Smith projects, among others.
Spring mobilization is the initial stage of construction which includes site preparation. The Projects include rooftop, carport, and ground-mounted solar with a combined generation capacity of 42.24 MW, as well as battery energy storage systems with a generation capacity of 21.76 MWh.
The Projects were previously updated in the following releases: Jordan Rd 1 and 2, Elmira, Newark and Camp Smith.
Once operational, the Projects are expected to deliver enough energy to power approximately 5,280 homes annually, and several of these Projects will be operated as community solar projects. Community solar is a solar photovoltaic system interconnected directly to the local electricity grid via distribution lines. Once the system is placed into service by the utility and generating electricity, clean energy from the site feeds into the local power grid.
Depending on the size and number of panels the project has, dozens or even hundreds of renters, homeowners and electricity customers can save money from the electricity that is generated by the project.
SUUN shares nudged ahead one cent, or 1.5%, to 69 cents.
