UGE Secures Its Largest Metro NYC Community Solar Project

1.6MW Community Solar Facility Adds to Company's Backlog in Westchester County

New York, New York--(Newsfile Corp. - June 9, 2021) - UGE International Ltd. (TSXV: UGE) (OTCQB: UGEIF) (the "Company" or "UGE"), a leader in commercial and community solar energy solutions, is pleased to announce that it has signed agreements to develop, build, own, and operate a second community solar project in Peekskill, New York, adding to its existing portfolio.

The 1.6MW rooftop project is UGE's largest yet in the metro-New York region. Atop the roofs of a storage facility in Westchester County, the project 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 was able to secure the contract through the Company's unique approach of including roofing upgrades as part of the compensation to the real estate owner for hosting the solar facility. The building owner, a new client for UGE, will receive a new roof and 25 years of lease payments for hosting the system.

"This project provides an additional example of the strength and resiliency of the New York solar market," said Mateo Chaskel, UGE USA's Managing Director. "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."

The project adds 1.6MW to UGE's project development backlog. The project is expected to be operational in mid-2022.

Interested consumers can visit www.ugei.com/community-solar-marketplace to register their interest in subscribing to one of UGE's upcoming solar facilities.

About UGE

UGE develops, owns, and operates commercial and community solar projects in the US and strategic markets abroad. Our distributed energy solutions deliver cheaper, cleaner energy to businesses and consumers with no upfront cost. With over 400MW 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
investors@ugei.com

Forward-Looking Statements

Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, certain of which are beyond the control of the Company. Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company assumes no obligation to update forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

Neither the TSX Venture Exchange nor its Market Regulator (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/86956

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