Get the Latest Investment Ideas Delivered Straight to Your Inbox. Subscribe

News Update

TICKERS: UGE; UGEIF

Solar Energy Firm to Install Assets on Two Commercial Buildings That It Will Retain
News Update

Share on Stocktwits

Source:

These rooftop projects are expected to generate $2.1-plus million over their lifetime for the New York-based company.

UGE International Ltd. (UGE:TSX.V; UGEIF:OTC) announced in a news release it completed financing on and started deployment of two solar energy projects, which it will own, on the rooftop of two commercial buildings in Montvale, N.J.

"As UGE continues to grow its U.S. development business, we look forward to growing our portfolio of retained assets as well," UGE CEO Nick Blitterswyk said in the release. "Retaining ownership allows UGE to maintain significantly more project value while boosting recurring revenue as well."

The two projects together are estimated to generate about $135,000 in revenue for UGE in the first year and more than $2.1 million over their lifetime. Funding was about $700,000 and in the form of project-level debt provided by WunderCapital.

In terms of the installation process, UGE completed procurement. Next, mobilization to the site will happen in November. Commercial operation of the system is expected by Q1/20.

[NLINSERT]

Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: none. She or members of her household are paid by the following companies mentioned in this article: none.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: UGE International. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with UGE International. Please click here for more information.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional, and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this interview, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of UGE International, a company mentioned in this article.





Want to read more about Alternative - Solar and Alternative Energy investment ideas?
Get Our Streetwise Reports Newsletter Free and be the first to know!

A valid email address is required to subscribe