UGE Signs Contract with Peterborough Utilities to Build 15 Solar Projects

Toronto, Ontario--(Newsfile Corp. - October 31, 2017) - UGE International Ltd. (TSXV: UGE) ("UGE"), a global leader in solar energy solutions for the commercial and industrial sector, announces that it has finalized and signed a contract to engineer and construct fifteen new solar systems for Peterborough Solar Projects Corporation ("PSPC"), a partnership between Peterborough Utilities Inc. ("PUI") and the City of Peterborough.

As previously disclosed June 20, 2017 (https://www.ugei.com/news/uge-reaches-new-scale-announcing-15-new-solar-systems-peterborough-utilities), the project is the largest in UGE's history and includes fifteen 600 kW DC ground mounted Feed in Tariff ("FIT") projects with a combined peak capacity of 9.0 MW DC. Over the project's lifetime, the electricity produced is expected to offset 2.33 million metric tons of CO2 emissions, the equivalent of planting more than 60 million trees.

"We are very excited to be working with Peterborough Utilities and the City of Peterborough on this portfolio. Our track-record of success deploying feed-in-tariff solar projects in Ontario has uniquely allowed us to partner with PSPC," said Scott Matthews, UGE's Vice President of Projects, "and this partnership actively promotes the sustainability goals of both companies, the municipalities in which they are located, and the province of Ontario."

The final signed contract value is approximately CAD $16 million. Construction is anticipated to begin in the fall of 2017 and will continue throughout 2018.

About UGE

UGE delivers immediate savings to businesses through the low cost of solar energy. We help commercial and industrial clients become more competitive by providing distributed renewable energy solutions at no upfront cost, generating long term economic and environmental returns. With over 340 MW of global experience, we work daily to power a more sustainable world. Visit us at www.ugei.com.

For more information, contact UGE at:
+1 917 720 5685
press@ugei.com

About PUI

PUI is the unregulated arm of the Peterborough Utilities Group ("PUG") of companies that develops, owns, operates and maintains a diverse portfolio of renewable generation facilities within the City of Peterborough and neighbouring regions. PUG companies have been providing safe and reliable supplies of electricity and water to the City of Peterborough for over 100 years. PUI and its affiliates are wholly owned by the City of Peterborough. For more information, visit www.pui.ca.