UGE International Ltd (UGEIF) Secures Second Solar Project in Maryland
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UGE International Ltd. (OTCQB: UGEIF) is pleased to announce that it has secured its second community solar project in Maryland.
The western Maryland project will be located south of Oakland, near the border with West Virginia. With an expected rated capacity of 2.2MW DC, the ground-mounted solar facility will provide affordable energy to subscribers in Maryland through the state's community solar pilot program. The solar facility is expected to generate annual revenue of approximately US$0.4 million per year once operational.
"UGE has been investing in the people, processes, and tools that will allow us to achieve our goals for scale this year and beyond," said Mateo Chaskel, UGE USA's Managing Director. "Our projects in Maryland are taking advantage of such investments, leading to efficiencies and accelerating the pace of site acquisition and project development. Maryland is one of several attractive states for community solar in the region and we look forward to adding additional projects to our development backlog throughout the remainder of the year and beyond."
Meanwhile, UGE's first ground mounted community solar project in Maryland, announced in March 2021, continues to make progress toward interconnection approval and a 2022 commercial operation date. Upon completion, the 2.7MW DC solar facility is expected to generate annual revenue in excess of US$0.5 million.
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