UGE Reaches New Scale Announcing 15 New Solar Systems with Peterborough Utilities
Toronto, Ontario- (June 20, 2017)
UGE International Ltd. (TSXV: UGE) ("UGE"), a global leader in solar energy solutions for the commercial and industrial sector, announces it has been selected as the winner to engineer and build 15 new solar systems for Peterborough Solar Projects Corporation ("PSPC"), a partnership between Peterborough Utilities Inc. ("PUI") and the City of Peterborough.
The portfolio will see 9.0MW DC of peak power generation built across 15 sites in Ontario. PSPC was first awarded the fifteen 500kW AC feed-in-tariff ("FIT") contracts for ground-mounted solar projects as part of the utility's and city's goal to accelerate investment in clean energy. UGE was then selected through a competitive process to provide all engineering, procurement, construction, and commissioning services on the projects based on UGE's extensive experience, having successfully completed more 500 kW ground-mounted FIT projects than any other company in Ontario.
On Monday, June 19th, the City of Peterborough's Committee of the Whole voted to approve that the project move forward with UGE. Ratification by Peterborough City Council is scheduled for June 26th. The contract and pricing has been agreed to between the parties and is pending signature this summer. All projects will be completed and installed in the nine to twelve months following contract signing.
"As UGE reaches new levels of scale, the promise of a future free from a dependence on fossil fuels becomes increasingly possible," said Scott Matthews, UGE's Vice President of Projects. "Now more than ever we need to prioritize the transition towards renewable energy sources and we are very excited to make such transitions possible through high impact projects such as these."
The contract is anticipated to be the largest in UGE's history, at approximately CAD $20 million.
For further information, please view UGE's investor newsletter, available at www.ugei.com/investors.