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

News Update


Energy Firm to Develop, Install, Finance Solar Project in New York
News Update

Share on Stocktwits


The system should generate $1.3 million-plus in energy revenue during its 25 years in operation.

UGE International Ltd. (UGE:TSX.V; UGEID:OTCQB) was retained to develop, install and finance a community solar project in New York City's Queens borough, the company announced in a news release.

The work is being done for an existing UGE client, which is a developer of commercial and industrial buildings in metropolitan New York. The client will lease to UGE the roof of one of its buildings, which is 30,000 square feet in size. In exchange, the client will get a significant contribution toward an upcoming roof replacement, followed by 25 years of lease payments.

During its 25-year life, the project, whose cost is about $0.5 million, is expected to generate more than $1.3 million in energy revenue. UGE will own and operate the project by sourcing project-level debt and by partnering with a tax-efficient investor.

"We are thrilled to be working on additional projects with this client, and increasing the amount of renewable energy we are offering to New York City residents. UGE continues to grow its balance sheet and recurring revenue through project ownership, and we are excited to see our solar portfolio's ongoing growth," UGE USA's Managing Director Mateo Chaskel said in the release.


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.
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 article, 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 investment ideas?
Get Our Streetwise Reports Newsletter Free and be the first to know!

A valid email address is required to subscribe