UGE International Ltd. (UGE:TSX.V; UGEIF:OTC) provided in a news release an update on its projects underway in Canada and the United States.
In Canada, the solar power solutions firm substantially completed, earlier this month, the last four sites of its largest portfolio, the 9 megawatt (9 MW) Peterborough series, such that its 15 sites are now operational.
UGE won a maintenance contract for a commercial solar project it previously installed in Ontario, and it will complete the work in the coming months. That contract's value exceeds the company's 23% gross margin target.
In the United States, the company finished two of the last three projects of its four-site Minnesota schools cluster. It expects to complete the final site in about four weeks' time.
UGE revealed that Con Edison is the previously unnamed client for which UGE was recently awarded a 3.1 MW project in the Northeast.
In Africa, the company, in the next few months, will study the feasibility of microgrids in Burkina Faso, per a phase one contract it received. The contract for this project also surpasses UGE's gross margin target.
Looking forward, UGE's CEO Nick Blitterswyk said in the release, "UGE is excited to start several new chapters in 2019, as past engineering, procurement and construction portfolios are wrapped up and new projects in our U.S. and Philippines markets kick off. This year we expect to build a record number of projects in both markets where we focus on self-developed opportunities."
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