UGE Interconnects Community Solar Project in Peekskill, New York

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Toronto, Ontario–(Newsfile Corp. – October 11, 2022) – UGE International Ltd. (TSXV: UGE) (OTCQB: UGEIF) (the “Company” or “UGE”), a leader in the commercial and community solar energy industry, has interconnected a 740 kW rooftop community solar project September, with final commercial service expected later this week.

The project is located on the roof of a distribution center in Peekskill, New York owned by D. Bertoline & Sons, a family-owned beverage distributor established in 1933. D. Bertoline & Sons earns lease payments over 25 years in exchange for hosting the solar installation on his building.

“D. Bertoline & Sons is proud to host a community solar project. We have turned our roof into a cleaner and cheaper source of electricity, and at the same time a source of long-term rental income for our business,” said Dominick Bertoline. , President and Chairman of D. Bertoline & Sons.

Buyers of the clean power generated by the project include T-Mobile, which in addition to reducing the carbon footprint of their operations saves on electricity costs. As announced in 2021, UGE was selected by T-Mobile to provide clean community solar power to offset the wireless provider’s energy consumption.

This project joins the growing portfolio of community solar projects owned and operated by UGE in the United States. The project is expected to generate annual recurring revenues of approximately $222,000 per year. Community solar is expected to be the fastest growing segment of the US solar industry. UGE has community solar projects in development in most community solar markets across the country.

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.

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 listing of the Green Debentures on the TSX Venture Exchange. 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/140083

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