PowerBank Corporation (NASDAQ: SUUN) announced it has initiated construction activities on nine solar energy projects across New York State with a combined capacity of 42.24 MW and 21.76 MWh of battery storage.

The projects, which include Jordan Rd 1 and 2, Elmira, Newark and Camp Smith facilities, have entered what the company terms "spring mobilization," described as the initial construction stage involving site preparation. The portfolio consists of rooftop, carport, and ground-mounted solar installations.

PowerBank stated the projects are expected to generate enough energy to power approximately 5,280 homes annually when operational. Several projects will operate as community solar facilities, allowing local residents to subscribe and receive credits on their electric bills without installing panels on their properties.

The company noted the projects support New York's Climate Leadership and Community Protection Act goal of 6 GW of solar capacity by 2025. New York represents nearly one-third of the United States' 6.2 GW of installed community solar capacity.

PowerBank disclosed several risks associated with project development, including requirements for financing and final permits before construction can commence. The company plans to either finance projects directly for ownership as independent power producer assets or sell projects to third parties while continuing as engineering, procurement and construction contractor.

The company reported having completed over 100 MW of projects with a development pipeline exceeding 1 GW. PowerBank trades on NASDAQ under ticker SUUN, Cboe Canada as SUNN, and the Frankfurt Stock Exchange as 103.