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TICKERS: UGE; UGEID

Solar Energy Company Lands Three New US Projects, One Its Largest by Far
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Source:

The largest project is 1215 times the size of its average installation.

UGE International Ltd. (UGE:TSX.V; UGEID:OTCQB) garnered three new solar projects, including its largest U.S. one to date, it announced in a news release.

"UGE continues to see growing demand, even in the face of the sudden downturn in the economy," CEO Nick Blitterswyk said in the release.

The three agreements, which call for solar installations totally 9.4 megawatts (MW) in rated capacity, have a collective value of about $20 million.

The project of record size for UGE is for a corporate campus in Westchester, N.Y. About 1215 times larger than UGE's average installation, this 6.6 megawatt installation will produce power for about 1,000 homes. The solar power it generates will be fed into the grid, and energy credits given to community solar subscribers at a reduced rate.

Another new New York project, which will use the same community subscription program, is for an existing UGE client. UGE will deploy solar energy systems with a total 1.7 megawatt rated capacity on rooftops at nine New York City sites.

With the third project, UGE will develop, build and finance a 1.1 megawatt rated capacity solar solution in Maine, which recently has evolved into a top community solar market. Energy from this one will be fed into the grid as part of the state's net solar metering system.

"Community solar allows real estate owners to boost revenue by receiving lease payments for their empty rooftops and open land, which is especially attractive during a time when their revenue may otherwise be decreasing," Blitterswyk added.

UGE expects to finish all three projects by year-end 2021.

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Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: none. She or members of her 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.
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.
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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 interview or the decision to write an article until three business days after the publication of the interview or 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.




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