UGE Signs Contract with Peterborough Utilities to Build 15 Solar Projects



Toronto, Ontario--(Newsfile Corp. - October 31, 2017)

UGE International Ltd. (TSXV: UGE) ("UGE"), a global leader in renewable energy solutions for the commercial and industrial sector, announces that it has finalized and signed a contract to engineer and construct fifteen new solar systems for Peterborough Solar Projects Corporation ("PSPC"), a partnership between Peterborough Utilities Inc. ("PUI") and the City of Peterborough.

As previously disclosed June 20, 2017, the project is the largest in UGE's history and includes fifteen 600 kW DC ground mounted Feed in Tariff ("FIT") projects with a combined peak capacity of 9.0 MW DC. Over the project's lifetime, the electricity produced is expected to offset 2.33 million metric tons of CO2 emissions, the equivalent of planting more than 60 million trees.

"We are very excited to be working with Peterborough Utilities and the City of Peterborough on this portfolio. Our track-record of success deploying feed-in-tariff solar projects in Ontario has uniquely allowed us to partner with PSPC," said Scott Matthews, UGE's Vice President of Projects, "and this partnership actively promotes the sustainability goals of both companies, the municipalities in which they are located, and the province of Ontario."

The final signed contract value is approximately CAD $16 million. Construction is anticipated to begin in the fall of 2017 and will continue throughout 2018.

For further information, please view UGE's investor newsletter, available at www.ugei.com/investors.