An anonymous director reports

UGE ACHIEVES COMMERCIAL OPERATION FOR COMMUNITY SOLAR PROJECT IN NORWAY, MAINE

UGE International Ltd.'s one-megawatt (MW) community solar farm in Norway, Me., has reached commercial operation and begun generating electricity.

The Norway community solar farm is built atop a former landfill, making this project a brightfield -- a brownfield site redeveloped into a solar project. Brightfields provide maximum environmental and economic value by turning otherwise unusable land into sources of clean renewable energy, and sources of income in the form of long-term lease payments for the owner of the brownfield -- in this case the town of Norway.

The town of Norway is also a subscriber to the Norway community solar farm, alongside a variety of local businesses in Norway and surrounding towns. These subscribers benefit from reduced electricity costs and simultaneously offset the carbon footprints of their operations. In total, the solar farm will offset over 1,000 metric tonnes of CO2 (carbon dioxide) each year, the equivalent generated by burning more than 150,000 gallons of gasoline.

"With the opening of the first community solar project in our town, we're proud to be supporting Maine's transition to renewable energy," says Brad Plante, Norway's interim town manager. "Not only will the project help protect Maine's environment by reducing the carbon footprint of our community, but it will also benefit our town and local businesses financially for decades to come."

The Center for an Ecology-Based Economy (CEBE), a non-profit grassroots environmental organization in Norway, has been involved in bringing the project to town since the beginning.

"The shared, accessible nature of community solar aligns well with our mission to support a just transition to a thriving, regenerative economy," says Scott Vlaun, executive director of CEBE. "We're thrilled to see the project up and running, and generating clean solar electricity in our town while helping local businesses control energy costs."

UGE had the project appraised by an independent third party at a value of $3.29 per watt, with the project's total fair market value at $3.6-million. Originally, when NTP (notice to proceed) had been declared, a preliminary valuation of $2.62 per watt was announced. As a brownfield redevelopment project, the Norway community solar farm meets the criteria necessary to receive a 40-per-cent energy tax credit.

In addition to the Norway community solar farm, UGE has nine additional community solar projects totalling 16 MW under development in Maine, with the next one on target to reach commercial operation this fall. With the completion of this project, UGE's operating portfolio now stands at 4.8 MW, with an additional 18.1 MW of projects having reached their NTP milestone year to-date.

About UGE International Ltd.

UGE develops, owns and operates commercial and community solar and battery storage projects across the United States. Its distributed energy projects provide cheaper, cleaner energy to the businesses and households surrounding them, at no added cost. With over 500 MW of project experience, UGE works daily to make renewable energy accessible and affordable for all.

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