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UGE unveils solar project jobs in New York, New Jersey

Solar modules. Author: Oregon Department of Transportation. License: Creative Commons, Attribution 2.0 Generic.

October 28 (Renewables Now) - UGE International Ltd (CVE:UGE) last week made updates on its involvement in several solar projects in the US states of New York and New Jersey.

On Wednesday, the company said it closed financing and started project deployment on two commercial rooftop projects in Montvale, New Jersey. The two solar arrays will supply electricity over a 25-year project lifetime at rates lower than those available from the grid, UGE noted.

WunderCapital has provided about USD 700,000 (EUR 631,000) in project-level debt and UGE expects the two systems to generate more than USD 2.1 million in revenue for the company over their lifetime. It has already commenced procurement for both projects and anticipates site mobilisation to take place in November. Commercial operation is scheduled for the first quarter of 2020.

A couple of days later, the company said its engineering and consulting business had won a USD-150,000 contract to support the development and detailed design of four ground-mount community solar systems in New York State with a combined capacity of 18 MW. UGE Engineering is to fulfill the contract by the end of the year.

(USD 1.0 = EUR 0.901)

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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