Canada's UGE to install USD-0.5m solar rooftop in New York

Solar array. Author: h080.

January 24 (Renewables Now) - Canadian solar company UGE International Ltd (CVE:UGE) on Thursday said it has won a contract to install a roughly USD-0.5-million (EUR 0.45m) solar rooftop system in New York City.

The company will execute the project for a developer of commercial and industrial buildings with which is has worked before. The latest project will be located on a 30,000-sq-ft (2,787 sq m) roof of a warehousing and storage facility near JFK Airport.

The client will lease the roof to UGE for 25 years, during which period the facility is expected to generate over USD 1.3 million in energy revenue.

UGE intends to source project-level debt and partner with a tax-efficient investor, which will enable it to own and operate the facility, according to the statement.

(USD 1.0 = EUR 0.906)

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Before joining Renewables Now, Alex was a UK-focused business news reporter. Now she is covering global news from the renewable energy industry with a special interest in M&A.

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