UGE Community Solar Project in Norway, Maine Reaches “Notice of Commencement” Stage


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New York, New York–(Newsfile Corp. – June 23, 2022) – UGE International Ltd. (TSXV: UGE) (OTCQB: UGEIF) (the “Company” or “UGE”), a leader in the commercial and community solar sector, has reached the Notice of Commencement milestone for its community solar project in Norway, Maine.

The one-megawatt ground project will be built atop a capped landfill and will generate enough electricity to offset nearly 1,500 tonnes of carbon dioxide every year, while reducing energy costs for the city and local businesses. .

UGE worked with the city of Norway and the Center for an Ecologically Based Economy (CEBE), a non-profit grassroots environmental organization in Norway, to develop the project. As the host of the project, the city of Norway will receive long-term rental income from the land where the project will be built, in addition to saving on energy costs.

“As a Mainer, I know firsthand that rising energy prices are straining city and business budgets across the state. Our communities are looking for ways to lower their bills while supporting our transition to 100% renewable energy by 2050 – and UGE is playing an important role,” said Tyler Adkins, Chief Revenue Officer of UGE. “In addition to the Norway Community Solar Farm, UGE is currently developing 12 other community solar projects in Maine totaling 25 megawatts. We believe the partnership between UGE, CEBE and the City of Norway will serve as an example to stakeholders of these 12 projects and others in our pipeline on how to engage Maine communities as the state transitions to ‘clean energy. We further believe that our considerations for land use best practices and long-term financial benefits for cities and businesses demonstrate how all stakeholders can benefit from UGE. extensive record of development and operation of community solar energy. »

Registration for Community Solar Farm Norway is now open. Cities and companies within the Central Maine Power utility territory may subscribe. You can find out more and register here.

UGE had the project appraised by an independent third party at a value of $2.62 per watt. Once operational, the project is expected to generate over $200,000 in revenue in its first year of operation, with a total facility life of up to 40 years.

About EGU

UGE develops, owns and operates commercial and community solar projects in the United States and in strategic markets abroad. Our distributed energy solutions provide cheaper, cleaner energy to businesses and consumers with no upfront costs. With over 500 MW of global experience, we work daily to power a more sustainable world. Visit us at www.ugei.com.

For more information, contact the UGE at:
+1 917 720 5685
[email protected]

Forward-looking statements

Certain information in this press release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, some of which are beyond the control of the Company. Forward-looking statements are often characterized by words such as “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. These statements are only predictions. Readers are cautioned that the assumptions used in the preparation of this information, while believed to be reasonable at the time of preparation, may prove to be imprecise and, accordingly, undue reliance should not be placed on any forward-looking statements. Forward-looking statements include, but are not limited to, the intended use of proceeds and the receipt of final regulatory approvals, including TSX Venture Exchange approval. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/128661