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

News Update


Solar Energy Firm Sets Record for Confirmed Orders in Q1/20
News Update

Share on Stocktwits


UGE International also completed several projects during the quarter.

UGE International Ltd. (UGE:TSX.V; UGEIF:OTCQB) announced in a news release the milestones it achieved in Q1/20.

In terms of confirmed orders, Q1/20 was the strongest quarter in the company's history. The new orders increased UGE's project backlog by 50% and took its value to $45Ė50 million. Also during the quarter, UGE's "global solar experience has surpassed 400 megawatts (400 MW)," the release noted.

In the United States, the solar energy solutions firm completed a 100 kilowatt (100 kW) solar energy installation in Long Island, N.Y., and mechanically completed a 130 kW project in Montvale, N.J. It confirmed eight new U.S. projects, the total estimated value of which is $20 million, including its largest U.S. project yet, a community solar project in Westchester County, N.Y. UGE also closed the financing for two projects in New York.

In the Philippines in Q1/20, UGE finished four jobs totaling 1.4 MW. UGE Philippines signed agreements for two new projects, one with the Cebu Institute of Technology University for a 97 kW system and the other with Lite Port Properties Inc. for a 200 kW project at a mall in Bohol.

Similarly, UGE Engineering completed various projects, for internal clients and for UGE's subsidiaries. They included construction drawings for 18 MW of projects in New York and front end engineering design for a project in Ontario.

UGE also reported that in light of COVID-19, all of its subsidiaries have taken proactive steps to decrease spending. Though local coronavirus restrictions have slowed deployments of the company's solar energy solutions, the subsidiaries intend to accelerate schedules once restrictions are removed. According to the release, "UGE expects to move several of its new projects into the construction phase before the end of the year."


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