UGE International and Blue Sky Energy Efficiency AnnouncePartnership to Finance and Install Solar Energy Systems for Multinational Clients in China
Power Purchase Agreements Will Deliver Affordable Solar Electricity to Commercial Facilities in China with Zero Capital Expenditure
BEIJING--(April 1, 2015) - UGE International Ltd. (www.ugei.com)(TSX-V: UG) (OTCQB: UGEIF), a leader in renewable energy solutions for business and government customers, and Blue Sky Energy Efficiency, a specialist developer and financier of energy management projects, are partnering to deliver fully financed solar energy to commercial businesses in China. The partnership will finance and install on-site solar systems with zero upfront cost,immediately lowering clients’ energy costs and providing a reliable and clean source of energy.
UGE and Blue Sky will provide local and multinational corporations operating in China with a turnkey solution for their facilities through the use of a Power Purchase Agreement (PPA). Already widely utilized in the U.S., the PPA is a third party financed structure wherein a financier owns the solar energy system and sells the electricity in a long-term contract to an off-taker. The two companies announced that funding is immediately available for qualified clients, with the goal to develop a leadership position in the local market.
“Blue Sky and UGE are bringing an innovative solar energy financing structure toChina that will make it possible to rapidly expand use of on-site renewable energywith no money down,” said Rosie Pidcock, Senior Manager of Commercial Solar for UGE. “Businesses operating in China are seeking reliable, affordable energy,and our partnership provides the country’s first solution specifically targeted atthe world’s largest commercial sector.”
“Blue Sky is extremely pleased to have partnered with UGE to structure Power Purchase Agreements for customers in the Chinese market. We believe our role in providing timely and cost effective financing to China’s distributed solar and energy management market will continue to grow in importance,” said TienyuSieh, CEO of Blue Sky Energy Efficiency. Renewable energy deployment continues to grow rapidly in mainland China. By eliminating up-front costs to the customer, solar PPAs are an affordable way forcustomers to benefit from solar energy, including reduced electricity bills, longterm cost certainty, and the positive Corporate Social Responsibility (CSR) impact of going green.
UGE is a leading developer of distributed renewable energy solutions for business and government clients with projects in over 90 countries, including several for Fortune 1000 companies. Leveraging its proprietary technology platform, UGE deploys modular energy systems that solve clients' challenges at the nexus of cost, resiliency and sustainability. From solar and wind systems, to microgrids and off-grid lighting, UGE is the solution provider of choice for commercial energy challenges.
About Blue Sky Energy Efficiency
Blue Sky Energy Efficiency Co., Ltd. develops and funds infrastructure upgrades to help our clients improve energy management and reduce energy costs at their facilities in the Asia Pacific region. Blue Sky delivers fully funded, off-balancesheet solutions that integrate Energy Efficiency, Distributed Generation and Energy Storage for a mix of clients in a variety of sectors, including commercial, telecommunications/IT, industrial, hospitality, and logistics operations. Neither TSX Venture Exchange nor its Regulation Services Provider (as that termis defined in the policies of the TSX Venture Exchange) accepts responsibility forthe adequacy or accuracy of this release. Statements made in this press release include forward-looking statements that involve a number of risks and uncertainties. These statements relate to future events or future performance and reflect management's current expectations and assumptions. A number of factors could cause actual events, performance orresults to differ materially from the events, performance and results discussed inthe forward-looking statements, such as the economy, generally, competition inits target markets, the demand for UGE's products and the availability of funding. These forward-looking statements are made as of the date hereof and UGE does not assume any obligation to update or revise them to reflect new events orcircumstances. Actual events or results could differ materially from UGE'sexpectations and projections.