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UGE Achieves Commercial Operation on Largest Rooftop Community Solar Project in Maine

You are currently viewing UGE Achieves Commercial Operation on Largest Rooftop Community Solar Project in Maine

Independent Third Party Values Project at USD$2.5 Million, or USD$2.62/Watt

Toronto, Ontario–(Newsfile Corp. – April 11, 2024) – UGE International Ltd. (TSXV: UGE) (OTCQB: UGEIF) (the “Company” or “UGE”), a leader in commercial and community solar, announces that its 1-megawatt community solar farm in Dover-Foxcroft Maine reached commercial operation and has begun generating electricity.*

Built atop an 80,000-square-foot fieldhouse at Foxcroft Academy, the project is now the largest rooftop community solar project in the state of Maine. Foxcroft Academy, which is a hybrid public-private high school, will earn long-term lease income from UGE for use of the rooftop space.

Foxcroft Academy and RSU 68, the local public school district, subscribe to the solar project, reducing both the carbon footprints and electricity costs of their operations. Every year, the project will offset over 1,200 metric tons of CO2, equivalent to the amount produced by burning roughly 140,000 gallons of gasoline.

In late October, UGE and Foxcroft Academy held a celebration of the project. Nearly 500 students, teachers, community members, and government representatives were in attendance. Remarks were delivered by Foxcroft’s Head of School, Board President, and Student Body President; Dover-Foxcroft Town Manager, RSU 68 Superintendent, UGE Chief Revenue Officer, and a Legislative Liaison from the State’s Energy Office.

“The unveiling of this solar power system represents a significant milestone for our community and marks our determination to find and use sustainable energy,” said Arnold Shorey, Head of School at Foxcroft Academy. “This solar power system will generate clean electricity for Foxcroft Academy and RSU 68 and serve as an educational tool, inspiring young minds to explore the limitless possibilities of green technology.”

“RSU 68 will reap the benefit of it through a lowering of our electricity bills,” said Stacy Shorey, Superintendent of FSU 68. “With monthly winter bills in excess of $10,000, it is certainly appreciated by those of us putting the budget together as well as the taxpayers of our communities. Those savings can then be reinvested in our real priority- the students.”

In addition to the Foxcroft community solar project, UGE’s portfolio in Maine includes a 1MW project in the town of Norway which began operating in October 2023, and nine projects totaling 17MW under development.

With the completion of this project, UGE’s operating portfolio now stands at 6.6MW. In addition to its operating portfolio, UGE has eight projects totaling 17.7MW in deployment and construction, the final phases of development.

*UGE announced that this project had received Permission to Operate (PTO) from the utility in January; commercial operation was primarily postponed due to delays with testing during winter weather.

About UGE

UGE develops, owns, and operates community and commercial solar & battery storage projects. Our distributed energy solutions provide cheaper, cleaner energy to businesses and households throughout the United States. With over 500 megawatts of project experience, we’re working daily to make renewable energy accessible and affordable for all. 

Forward-Looking Statements

Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, certain of which are beyond the control of the Company. Forward-looking statements are frequently 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 such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Forward-looking statements include, but are not limited to, the anticipated use of proceeds, and the listing of the Green Debentures on the TSX Venture Exchange. The Company assumes no obligation to update forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

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