UGE International and OTEPI Renewables Selected to Supply Solar Energy Systems for Retail Chain's Portfolio of Facilities
NEW YORK, NY--(Marketwired - Mar 3, 2015) - UGE International Ltd. (www.ugei.com) (TSX VENTURE: UG) (OTCQB: UGEIF), a leader in renewable energy solutions for business and government customers, has been selected, along with local partner OTEPI Renewables, to design and supply solar energy systems at the facilities of a leading retail chain in Central America. Spanning a variety of sites that include retail showrooms, warehouses, distribution sites, and offices, the solar energy systems will significantly reduce energy costs and operating expenses for the client.
"Our client is making a savvy decision by investing in solar energy, to reduce uncertainty surrounding future electricity rates, and drastically lower operating expenses attributable to electricity consumption," said Joshua Rogol, Director of Business Development at UGE. "Our distributed renewable energy systems are very competitive with utility electricity costs in this region. We suspect that our growing presence in the Central American market couldn't be better timed. As electricity rates rise, finding a source of reliable, affordable energy has become a top priority for commercial businesses operating in the Latin American region."
The contract, valued at between 4 and 5 million USD, is expected to be fulfilled over the next 12 to 15 months. The final contract amount and installed capacity will be confirmed once site-by-site engineering is completed in the coming weeks.
Together, the rooftop solar systems are expected to produce at least 5,600 MWh of energy annually. The grid-tied solar PV systems include UGE Seamless Grid inverters and rooftop solar racking.
Last year, UGE and OTEPI Renewables, a Panama-based energy company founded in 1967, announced a strategic partnership, designed to serve Panama and the greater Central American region by meeting the critical energy needs of the commercial and industrial sector. UGE designs energy solutions leveraging solar, wind and battery storage for global brands including Whole Foods, Hilton, Anditel, and Dropbox.