PowerBank (SUUN) said Wednesday it has received the first $4 million payment from Solar Advocate Development related to three community solar projects.
The company said the projects, comprising Elmira, Jordan Road 1, and Jordan Road 2, are valued at about $41 million and include full engineering, procurement and construction services through commercial operation.
PowerBank said it expects to receive the remaining payments as development and construction milestones are met.
The projects will deliver 16.87 MW of clean energy capacity, it added.
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