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

News Update


Solar Energy Firm Reports It Is On Track for Best Year to Date
News Update

Share on Stocktwits


UGE International's commercial operation on first self-financed projects and project backlog currently exceed $100 million.

In a news release, UGE International Ltd. (UGE:TSX.V; UGEIF:OTCQB) provided a Q3/10 operational update, which includes project completions, new contracts and installation milestones.

In the United States, the energy company finished installing its first two self-financed solar projects in the country, which are rooftop systems in New Jersey.

In New York, UGE completed the mechanical work on two community solar systems in Staten Island and Queens, signed a new 340 kilowatt (340 kW) rooftop project in New York City and began mobilizing construction on a project in Westchester.

The energy firm landed four contracts in Maine, for two ground-mounted systems totaling 11.9 megawatts (11.9 MW) and two rooftop school systems totaling 1.7 MW.

In the Philippines during Q3/20, UGE completed its first self-financed project there. It also finished a 260 kW solar system and made significant progress on another 650 kW system.

During Q3/20, the accomplishments of UGEngineering, UGE's consulting services division, included finalizing a microgrid project concept design for an off-grid mining community, finishing initial design and pre-interconnection applications for a 378 MW portfolio in the Western U.S. and completing engineering drawings for a wastewater treatment facility in Toronto, Ontario.

At the corporate level, UGE used the proceeds from warrants exercised earlier in the year to settle an outstanding note. Additionally, at the company's annual general meeting, which took place on Sept. 18, 2020, shareholders voted in favor of all matters before them. One was the election of Peter Van Egmond Rossbach to UGE's board of directors.


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. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
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 decision to publish an article until three business days after the publication of the 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 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