PowerBank Corporation, a North American energy company that develops, builds, owns, and operates solar and battery energy storage systems, has executed agreements through its U.S. subsidiary, Abundant Solar Power, to reacquire two community solar projects in New York.

The 13.9 MW portfolio comprises the 6.9 MW Highway 28 project and the 7 MW Gainesville project. PowerBank previously sold the projects to an investor as part of a larger transaction announced in January 2025. The company announced plans to reacquire them in April of this year.

The Highway 28 project is expected to be construction-ready in the third quarter of 2026. Abundant Solar Power will serve as the engineering, procurement, and construction contractor and has begun onsite preparation work ahead of full construction mobilization.

PowerBank estimates the Highway 28 project’s construction value at $17 million and its expected federal Investment Tax Credit (ITC) value at about $8 million. The company agreed to reacquire the project for $1.25 million through milestone payments.

The 7 MW Gainesville project is expected to be construction-ready in 2027. The project’s construction value is $15.5 million, and its expected ITC value is $5 million. The company agreed to reacquire the project for about $1.15 million through milestone payments, including all project assets.

PowerBank said both projects are expected to remain eligible for federal energy investment tax credits because physical work began before July 4, 2026.

According to Mercom’s 1H and Q2 2026 Solar Funding and M&A report, approximately 25.2 GW of solar projects were acquired in the first half of 2026, compared to 19.9 GW in the first half of 2025.

In June, Chrysalis Renewables, a global renewables investment platform established by global infrastructure manager Morrison, acquired the Atlas V and Atlas VI solar projects in the U.S. from Hanwha Renewables, a utility-scale solar and energy storage developer.