UGE closes USD-25m facility for Maine community solar

Solar farm. Author: iamme ubeyou. License: CC0 1.0 Universal.

June 30 (Renewables Now) - North American outfit UGE International Ltd (CVE:UGE) said it has closed a USD-25-million (EUR 24m) project debt and tax equity facility to finance six community solar projects in the US state of Maine.

Specialty finance firm Twain Financial Partners committed the funds, which include both construction-to-term debt and tax equity.

The portfolio includes projects ranging from 1 MW (DC) to 3 MW (DC) that will participate in Maine’s community solar programme. One of them is a 1-MW ground-mounted project located in the town of Norway, Maine, that recently reached notice to proceed (NTP) status.

UGE expects the remaining five projects to achieve NTP throughout the remainder of 2022, the solar specialist said.

(USD 1.0 = EUR 0.962)

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Sladjana has significant experience as a Spain-focused business news reporter and is now diving deeper into the global renewable energy industry. She is the person to seek if you need information about Latin American renewables and the Spanish market.

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