UGE International Ltd. (UGE:TSX.V; UGEID:OTCQB) garnered three new solar projects, including its largest U.S. one to date, it announced in a news release.
"UGE continues to see growing demand, even in the face of the sudden downturn in the economy," CEO Nick Blitterswyk said in the release.
The three agreements, which call for solar installations totally 9.4 megawatts (MW) in rated capacity, have a collective value of about $20 million.
The project of record size for UGE is for a corporate campus in Westchester, N.Y. About 12–15 times larger than UGE's average installation, this 6.6 megawatt installation will produce power for about 1,000 homes. The solar power it generates will be fed into the grid, and energy credits given to community solar subscribers at a reduced rate.
Another new New York project, which will use the same community subscription program, is for an existing UGE client. UGE will deploy solar energy systems with a total 1.7 megawatt rated capacity on rooftops at nine New York City sites.
With the third project, UGE will develop, build and finance a 1.1 megawatt rated capacity solar solution in Maine, which recently has evolved into a top community solar market. Energy from this one will be fed into the grid as part of the state's net solar metering system.
"Community solar allows real estate owners to boost revenue by receiving lease payments for their empty rooftops and open land, which is especially attractive during a time when their revenue may otherwise be decreasing," Blitterswyk added.
UGE expects to finish all three projects by year-end 2021.[NLINSERT]
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