UGE International Ltd.

UGE brings solar projects to life by developing, building, and financing the full lifecycle of solar PV systmes for commercial and industril clients. With a track record of successfully executing more that 600 projects, UGE is a North American leader in this industry. UGE grew more than 200% in 2017 as it builds on its early-mover advantage, and sees the industry growing reapidly for many yeards to come as the low cost of solar opens new opportunities for the company.

Expert Comments:

Devin Schilling, PI Financial

"UGE International Ltd.'s Q2/21 revenue of $575K (up 127% year over year) was in line with our $567K forecast. . .the company's project backlog increased to 84 MW or $165M from 71MW or $142M since Q1/21E. . .UGE completed its fourth self-financed U.S. solar facility at Q2/21E."

An addition to UGE International's project backlog is covered in a PI Financial report.
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Devin Schilling, PI Financial

"UGE International Ltd. announced that it has secured its first two sites for community solar projects in the state of Pennsylvania. . .the two projects are ground-mounted solar facilities and are expected to have a rated capacity of approximately 11 MW DC and generate over $1.5M of annual recurring revenue once constructed."

Devin Schilling, PI Financial

"UGE International Ltd. announced that it has secured a new community solar project in Maryland. . .the new project win is a ground-mounted solar facility with an expected rated capacity of 2.2 MW direct current and is expected to generate annual revenue of approximately $0.4M once operational."

UGE International's newest self-financed project and its backlog are discussed in a PI Financial report.
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Devin Schilling, PI Financial

"UGE International Ltd. announced that it has signed an agreement to develop, build, own and operate a new community solar project located in New York. . .the 1.6 MW rooftop project represents the company's largest yet in the metro-New York region and continues UGE's momentum in rapidly growing the project backlog. . .at this time, we anticipate this project could generate US$0.3–0.4M in high-margin annual recurring revenue once deployed and operational."

UGE International Ltd. reported operating and financial results for Q1/21 that included a growth in self-financed project backlog at quarter end to 70.5 MW.
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Devin Schilling, PI Financial

"UGE International Ltd. now has three self-financed solar facilities operational and another 40 in the project backlog. We view the company as being well on its way to building out a long-term (high-margin) recurring revenue stream through its transition into a solar asset owner-operator."

The investment thesis on UGE International is provided in an Eight Capital report that initiates coverage.
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UGE International Ltd. signed an agreement to construct and operate a new community solar project in Peekskill, N.Y., adding US$2.3 million to its project backlog.
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Sean Keaney, Eight Capital

"We are initiating coverage of UGE International Ltd. with a Buy recommendation. . .despite the company's incredible share price performance over the past year, the market continues to underappreciate the updated business model, and UGE is trading at a discount to its intrinsic value."

More Expert Comments

Experts Following This Company

Sean Keaney – Eight Capital
Clive Maund –
Devin Schilling – PI Financial
Ahmad Shaath – Beacon Securities Ltd.

Company News

8/19/2021 – UGE Reports Second Quarter 2021 Financial Results

8/12/2021 – UGE Announces Release Date for Q2 2021 Financial Results and Webinar Details

7/20/2021 – Tuckahoe Housing Authority Partners with UGE to Lower Energy Bills for Residents with Rooftop Community Solar System

7/15/2021 – Bloomberg Expands Access to Community Solar Project to 4,800 Eligible Employees

7/12/2021 – UGE Announces Q2 2021 Project Updates, Surpasses 500MW in Experience

6/28/2021 – UGE Expands to Pennsylvania, Secures First Two Sites for Community Solar Projects

6/24/2021 – UGE Signs Nine New Commercial Solar Projects in the Philippines

6/21/2021 – UGE Secures Second Community Solar Project in Maryland

The information provided above is from analysts, newsletters, the company and other contributors.

UGE International Ltd. is a former sponsor of Streetwise Reports. The company's sponsorship fees paid for Streetwise Reports to create this "Investor Summary Page," to which links were placed on Streetwise Reports' websites and newsletters. Streetwise Reports did not accept stock for the payment of fees. See disclaimer for more details.

The company description, investing highlights and catalyst calendar on this page were prepared by the company. The Expert Comments and Experts Following This Company sections of this page are compiled by Streetwise Reports. There may be other information about the company that is not placed on this page. Streetwise Reports does not guarantee the accuracy or thoroughness of the information contained on this page.

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Readers should conduct their own research for all information publicly available concerning the company.

Investing Highlights
Value – market cap approx. 1/8th of backlog of $83m USD as of 6/30/2020
Building cash flow positive and recurring revenue focused business
Commercial/community solar sector growing rapidly; UGE a leader in its target regional markets
catalyst Calendar
Spotlight on Maine expansion
Reaching $100m in backlog – approx. Oct 2020
Profitable quarterly results: Q3 2020 (released Nov 2020)
Closing project financing: tax equity in Oct 2020, Philippines in Sept 2020, and Green Bond in Nov
Profitable quarterly results: Q4 2020 (March 2021)