- UGE International (UGE) has secured its largest community solar project in metropolitan New York City
- The 1.6 MW project atop a storage facility in Westchester County will provide clean, affordable energy to approximately 236 Con Edison subscribers
- The company will provide roof upgrades and 25 years of lease payments to the building owner for hosting the system
- The company expects the project to be operational in mid-2022
- UGE develops, owns and operates commercial and community solar projects in the U.S. and strategic markets abroad
- UGE International (UGE) is up by 5.04 per cent and is currently trading at $1.25 per share
UGE International (UGE) has secured its largest community solar project in metropolitan New York City.
The company signed agreements to develop, build, own and operate a second community solar project in Peekskill, New York, adding to its existing portfolio.
The 1.6 MW project atop a storage facility in Westchester County will provide clean, affordable energy to Con Edison subscribers that sign up to save on their electric utility bills.
In total, the project is expected to offset the energy bills of approximately 236 energy users.
UGE secured the project by including roofing upgrades as partial compensation to the real estate owner for hosting the solar facility. The building owner, a new client for the company, will receive a new roof and 25 years of lease payments.
The company expects the project to be operational in mid-2022.
Mateo Chaskel, UGE USA’s Managing Director, commented,
“This project provides an additional example of the strength and resiliency of the New York solar market. For years, UGE has been working with property owners to develop creative solar projects. We are excited to be at the forefront of the community solar industry, developing new projects that maximize benefits for real estate owners and energy users, while providing UGE with long term returns.”
UGE develops, owns and operates commercial and community solar projects in the U.S. and strategic markets abroad.
UGE International (UGE) is up by 5.04 per cent and is currently trading at $1.25 per share as of 11:35 am ET.