Source: Streetwise Reports 01/13/2019
This project will be in the form of a community-distributed generation model.
UGE International Ltd. (UGE:TSX.V; UGEIF:OTC) signed a contract to develop a community solar power project on New York’s Staten Island, it announced in a news release.
How this type of project works is UGE pays rent to a building owner for roof space on which UGE installs a solar power generation system. The energy created is then sold to community members at a price lower than the current utility rate.
UGE will install the Staten Island project on the roof of a family-owned kitchen cabinetry business. “At 304 kilowatts, the project’s value exceeds $600,000,” the release noted.
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