UGE Announces Financed Solar Contract with Central Seafoods
Central Visayas, Nov 6, 2018 (Issuewire.com) - UGE International Ltd. (TSXV: UGE) (“UGE” or the “Company”), a global leader in solar energy solutions for the commercial and industrial sector, is pleased to announce it has signed a financed contract to provide Central Seafoods in Cebu, the Philippines with a rooftop solar system.
The contract for Central Seafoods is UGE’s second financed contract in the Philippines, after announcing one with Lonbisco two weeks ago. The project is expected to be installed over the next six months. The initial project size is 165 kW and is estimated to save the client almost half a million US dollars over the project’s useful life.
Once operating, the system will offset over 3,000 tons of carbon annually and will significantly reduce electricity costs for Central Seafoods. By converting to solar energy, the facility will pay 40% less than the utility rate for electricity, while also reducing volatility in energy prices and its carbon footprint.
Central Seafoods is a leading processor and exporter of marine products and crab meat. UGE looks forward to completing this initial project over the next six months, and to working with Central Seafoods to lower its energy costs and decrease its carbon footprint across its broader portfolio thereafter.