UGE - One of the company's community solar projects in the Bronx.
One of the company's community solar projects in the Bronx.
Source: UGE International.
  • UGE (UGE) will break ground this spring on a 1 MW rooftop community solar project in Maine
  • The project is estimated to produce an average of $150,700 in annual revenue
  • Upon completion, the project will become Maine’s largest rooftop solar installation
  • UGE International develops, owns and operates commercial and community solar projects in the U.S. and strategic markets abroad
  • UGE (UGE) is down by 3.42 per cent trading at $1.13 per share

UGE (UGE) will break ground this spring on a 1 MW rooftop community solar project in Maine.

The project is estimated to produce an average of $150,700 in annual revenue.

The news follows reception of the Notice to Proceed milestone, which indicates that financing for the project has closed and all necessary permits and interconnection approvals are in place.

Financing includes a $12.5 million debt facility and a $7 million tax equity facility to fund three projects in the state. UGE now has 18 MW of solar projects under development in Maine.

The Foxcroft project will be built atop an 80,000 sq. foot fieldhouse at Foxcroft Academy, an independent high school in Dover-Foxcroft, and will offset nearly 16,500 metric tons of CO2 over its lifetime – the equivalent of 40 million miles driven by car.

Foxcroft Academy and the neighboring school district will benefit from discounted energy for 20 years through an agreement with UGE.

Upon completion, the project will become Maine’s largest rooftop solar installation.

UGE International develops, owns and operates commercial and community solar projects in the U.S. and strategic markets abroad.

UGE (UGE) is down by 3.42 per cent trading at $1.13 per share as of 10:56 am EST.


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