UGE Signs Contract to Develop Community Solar Project in New York City
Toronto, Ontario--(Newsfile Corp. - January 10, 2019) - UGE International Ltd. (TSXV: UGE) (the "Company" or "UGE"), a leader in renewable energy solutions for the commercial and industrial sector, is pleased to announce it has signed a contract to develop a new community solar project in Staten Island, New York.
Community Distributed Generation ("CDG") is the fastest growing segment of commercial solar, within which UGE is an industry leader. Having developed the first such project in New York City last year, UGE has reinforced itself as an industry innovator with additional project wins thereafter. Through UGE's innovative approach, the building owner collects rent for roof space, upon which UGE installs a solar system. Energy from the solar system is sold to community members, who purchase solar energy at a price lower than their utility rate.
The building this project is located on is a production facility run by a family business, focused on custom kitchen cabinetry. UGE's approach has already facilitated ongoing conversations with the building owner about additional partnership opportunities for solar in the region. At 304kW, the project's value exceeds $600,000.
"UGE is excited to build this project and lead the development of CDG projects in New York City," said Mateo Chaskel, UGE's Director of Development. "This market represents an enormous opportunity for solar. We are excited to be pursuing further opportunities for solar in the area and providing real benefits to the community."
About UGE International Ltd.
UGE delivers immediate savings to businesses through its low cost solar energy solutions. UGE helps commercial and industrial clients become more competitive by providing distributed renewable energy solutions at no upfront cost, thus generating long-term economic and environmental returns. With over 375 MW of global experience and over 630 projects completed, UGE works daily to power a more sustainable world. Visit us at www.ugei.com.
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