Toronto, Ontario–(Newsfile Corp. – March 2, 2023) – UGE International Ltd. (TSXV: UGE) (OTCQB: UGEIF) (the “Company” or “UGE”), a leader in commercial and community solar, announces that it has reached the Notice to Proceed milestone for a 376kW rooftop community solar project in Queens, New York.
The project will be built atop a 116,725 square foot modern warehouse under construction located near John F. Kennedy International Airport that is owned and developed by New York City-based real estate developer Wildflower Ltd LLC. This will be UGE’s sixth solar project completed with Wildflower, with another three currently under development.
“Our long-term partnership with UGE supports Wildflower’s mission to create innovative, sustainable and socially beneficial physical infrastructure in New York City,” said Adam Gordon, Managing Partner of Wildflower. “We are pleased to be bringing yet another community solar project to life with UGE.”
As part of an ongoing partnership announced in November 2021, wireless provider T-Mobile will serve as the project’s anchor energy off-taker, supporting T-Mobile’s commitment to power its business using 100% renewable energy. UGE will reserve 50% of the project’s energy output for Low- to Moderate-Income subscribers, allowing these households and businesses to save upwards of 10% on their electricity costs.
This newest New York City community solar project joins UGE’s portfolio of projects throughout the five boroughs and Westchester County. Construction on the project is set to begin in the early spring, with commercial operation anticipated for early fall of this year.
UGE develops, owns, and operates commercial and community solar projects in the US and strategic markets abroad. Our distributed energy solutions deliver cheaper, cleaner energy to businesses and consumers with no upfront cost. With over 500MW of global experience, we work daily to power a more sustainable world.
Wildflower creates innovative, sustainable and socially beneficial physical infrastructure in New York City by fusing design, entrepreneurship, and community engagement. Wildflower currently owns over 3 million square feet of real estate in the New York metro area.
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.