NEW: No-Cost StreetSmart Live! Events. This type of intellectual capital is usually not made available to the general public. Learn More

Get the Latest Investment Ideas Delivered Straight to Your Inbox.

News Update

TICKERS: UGE; UGEIF

Solar Energy Firm Announces Two New Community Solar Projects Valued at US$21.5 Million
News Update

Share on Stocktwits

Source:

UGE International reported it has executed agreements to develop, build and finance two community solar projects in the State of Maine.

In a news release, UGE International Ltd. (UGE:TSX.V; UGEIF:OTCQB) announced "it has signed agreements to develop, build and finance two additional community solar projects in Maine." The company advised that the net present value of the two projects combined is US$21.5 million. The firm stated that it anticipates that the projects will be completed over the next 24 months and noted that the margins from the contracted projects are expected to be in line with recent company results.

The firm stated that the two projects will provide a total 11.8 MW in combined solar capacity. The company noted that the smaller of the two projects is located at the site of a contaminated industrial property that will be capable of producing 5.6 MW.

UGE International relayed that its development plans call for two new community solar projects that will offer residential energy users the chance to access energy systems at rates below those available from the grid.

The company's Director of New Markets Tyler Adkins commented, "Over the past year, Maine has seen a rapid evolution of public policy that is favorable for community-scale solar projects. Specifically, recent legislative action has unlocked enormous opportunities for UGE to provide cheaper, cleaner energy for Mainers across the state."

"This year continues to be a banner year for UGE's development team, as we continue to expand across the Northeast U.S. Each new project builds upon UGE's record year, further adding to our deployment expectations for 2021 and beyond," Adkins added.

[NLINSERT]

Disclosure:
1) Stephen Hytha compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: UGE International. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with UGE International. Please click here for more information.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of UGE International, a company mentioned in this article.




Learn More about Streetwise Reports Live

Want to read more about Alternative - Solar investment ideas?
Get Our Streetwise Reports Resources Report Newsletter Free and be the first to know!

A valid email address is required to subscribe