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TICKERS: UGE; UGEID

Renewable Energy Firm Expands Contract with Existing Client
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Source:

The added project entails installing a solar energy solution at an additional customer site.

UGE International Ltd. (UGE:TSX.V; UGEID:OTCQB) announced in a news release that it was awarded a new solar energy project by an existing customer, The Robin Group, in the Philippines.

This addition, of 395 kilowatts at peak capacity, to the toy manufacturer's solar energy portfolio makes it the largest outside of North America for UGE.

Installation of the system, for The Robin Group's facility in Cebu, is slated for H1/20. Revenue to UGE for the project is about $0.4 million. "Gross margins are estimated to be in line with the company's 2020 goals for projects purchased by end user clients," the release noted.

UGE stated that it is discussing further expansion opportunities with The Robin Group, "providing Robin the opportunity to take further advantage of the economic and environmental benefits of solar power."

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