In a news release, UGE International Ltd. (UGE:TSX.V; UGEIF:OTCQB) announced the company has signed agreements with two Maine schools to develop, build and finance a rooftop solar energy project for each.
"Maine represents a new and growing market for UGE, one that offers opportunity through its recent virtual net metering regulations, facilitating community solar projects," UGE CEO Nick Blitterswyk said in the release.
The projects are estimated to generate $2.4 million in revenue for UGE. One of the projects is expected to have 1 megawatt rated peak capacity and the other 0.7 megawatts.
The New York-headquartered firm already started designing the systems for the schools and has applied for utility interconnection approval. UGE anticipates advancing the projects all the way through installation over the next 12 months.
"UGE has a long history of providing solar for schools, having built upwards of 50 school projects to date, across the U.S., Canada, and the Philippines," the company stated, noting that these facilities are often ideal for solar solutions because they tend to have flat, empty roofs. Also, the company pointed out that in addition to the systems leading to energy cost efficiencies and savings, they serve as an educational tool.
UGE noted that because Maine emerged over the past year as an important market for UGE, it opened an office in mid-state and chose Tyler Adkins, who previously built the company's successful Philippines business, to head it.[NLINSERT]
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