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UGE Signs Agreements to Develop, Build, and Finance Community Solar Projects in Maine

Newsfile Corp.

Company Also Announces Dates for Release of First Quarter 2020 Financials and Corporate Webinar

New York, New York--(Newsfile Corp. - May 28, 2020) - 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 three agreements in Maine to develop, build, and finance community solar projects within the state.

The three projects are expected to have rated peak capacity of 4.7MW, 1.3MW, and 1.1MW, and are in the towns of Corinth and Monson, and the city of Bangor, respectively. Collectively, the projects add US$13 million to the Company's project backlog.

UGE is developing all three projects under Maine's community solar framework, which will see energy users throughout the state subscribe to purchase energy from the projects at a discount to grid rates. This will allow energy users that subscribe to simultaneously go green and save money. UGE is a leader in developing, building, and financing community solar projects, and is currently in construction on one of Maine's first community solar projects.

UGE expects to complete development and install the projects over the next 24 months.

UGE Announces Dates for Release of First Quarter 2020 Financials and Corporate Webinar

UGE also announces that it plans to release its unaudited, first quarter 2020 financial statements after markets close today, May 28, 2020. UGE will host a live webinar on Monday, June 1, 2020 at 2:00pm EDT, to review the results and project backlog.

You can register for the webinar, below:

Date: Monday, June 1, 2020
Time: 2:00pm EDT
Register: https://attendee.gotowebinar.com/register/1635295255074346252

Management will be available to answer questions following the presentation. To ask a question, you will need to be logged into the GoToWebinar platform or by emailing your question(s) beforehand to investors@ugei.com. The Webinar will be recorded and posted to UGE's website following the presentation.

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 low cost distributed renewable energy solutions at no upfront cost and maximum long-term benefit. With over 400MW of global experience, we work daily to power a more sustainable world. Visit us at www.ugei.com.

Contact:
investors@ugei.com
917-720-5685

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/56702