- UGE International (UGE) has secured its first two sites for community solar projects in Pennsylvania
- The two ground-mounted solar facilities will have a rated capacity of 11 MW and generate over US$1.5 million in annual recurring revenue
- Pennsylvania is the second state besides Maryland that UGE has entered in 2021, nearing its goal of three by end of year
- UGE develops, owns and operates commercial and community solar projects in the U.S. and strategic markets abroad
- UGE International (UGE) is down by 1.11 per cent and is currently trading at $1.78 per share
UGE International (UGE) has secured its first two sites for community solar projects in Pennsylvania.
The projects will be built in western Pennsylvania in the broader vicinity of Pittsburgh. Together, the company expects the two ground-mounted solar facilities to have a rated capacity of 11 MW and generate over US$1.5 million in annual recurring revenue.
UGE origination manager John Jeremko is leading the expansion, bringing with him several years of experience in the oil and gas industry. His career transition to clean energy echoes the metamorphosis happening in Pennsylvania’s energy sector, as many landowners, businesses and companies transition to solar power.
Pennsylvania is the second state besides Maryland that UGE has entered in 2021. This trajectory is in line with the company’s goal to enter at least three new states within the year, joining its traditional areas of strength in New York, New Jersey and Maine.
Tyler Adkins, UGE’s Chief Revenue Officer, commented,
“Pennsylvania is one of several states now working to unlock the potential of community solar to lower energy costs for its ratepayers, provide income for landowners and meet its aggressive renewable energy targets. UGE is excited to play a role in Pennsylvania’s clean energy future.”
UGE develops, owns and operates commercial and community solar projects in the U.S. and strategic markets abroad.
UGE International (UGE) is down by 1.11 per cent and is currently trading at $1.78 per share as of 10:45 am ET.