UGE Wins Contract with Primepack Technologies to Build and Finance 310kW Solar System
Toronto, Ontario--(Newsfile Corp. - July 26, 2019) - UGE International Ltd. (TSXV: UGE) (OTCQB: UGEIF) (the "Company" or "UGE"), a leader in solar solutions for the commercial and industrial sector, is pleased to announce that it has signed a contract with new client, Primepack Technologies, to deploy a financed 310kW rooftop solar project.
Primepack is a leading provider of plastic packaging products for the electronics, data storage, semiconductor, automotive and medical industries, based in Laguna, Philippines. This project is on their newest building, completed earlier this year.
By adopting solar, Primepack is anticipated to save approximately 40% off their current grid rates. Primepack operations manager, Mr. Leo Tanlimco, noted: "in addition to maximizing savings, we are an environmentally conscious company that wants to be known as an earth friendly establishment. We are excited to go solar with UGE."
The 310kW project is expected to be built over the next six months and will contribute over $300,000 of revenue to UGE. As with UGE's other financed projects in the Philippines, UGE's unique finance structure combines loan and service agreements for the client, providing the client with a tailor-made solution that will save them money throughout the system's lifetime, not unlike a power purchase agreement, while complying with the country's regulatory environment.
With the contract, UGE Philippines now has 12 new projects in or entering deployment, which are expected to drive revenue growth in the market throughout the end of 2019 and into 2020.
UGE delivers immediate savings to businesses through the low cost of solar energy. We help commercial and industrial clients become more competitive by providing low cost distributed renewable energy solutions at no upfront cost and maximum long-term benefit. With over 380 MW of global experience, we work daily to power a more sustainable world. Visit us at www.ugei.com.
For more information, contact:
+1 917 720 5685
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