Shares of UGE International (OTCQB: UGEIF) are ticking higher after the clean energy company said it has secured a contract to develop and build New York City’s first community solar project at a multi-tenant commercial facility in Brooklyn. Located in a neighborhood between Park Slope and Boerum Hill, the project will have a rated peak capacity of approximately 100 kilowatts, providing clean energy to be net metered and sold to residential off-takers at rates lower than their utility payments. The project is the first of several under development by UGE and Gotham Community Solar LLC, a company owned by Peter Davidson, a former UGE board member. Engineering and permitting work on the project is underway with construction scheduled to be completed during the summer of 2017. “The solar power generated by the project will be credited to numerous residential accounts, offering access to the benefits and low cost of solar energy to those previously excluded due to their housing situation,” UGE regional director Tim Woodcock stated in the news release.
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About UGE
UGE delivers immediate savings to businesses through the low cost of solar energy. The company helps commercial and industrial clients become more competitive by providing low cost distributed renewable energy solutions at no upfront cost and long term economic benefit. With over 330 MW of global experience, UGE works daily to power a more sustainable world. Visit the company’s website at www.ugei.com.
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