CEBU CITY, PHILIPPINES--(Marketwired - July 26, 2016) - UGE International Ltd. ("UGE") (TSX VENTURE:UGE)(OTCQB:UGEIF), a leader in renewable energy solutions for the commercial and industrial sector, today announces it has been awarded a contract to build a 475 kW rooftop solar project for Philippine Spring Water Resources, Inc. ("PSWRI"or "Nature's Spring"), the local manufacturer and distributor of Nature's Spring bottled drinking water. The solar system will be installed at the company's main facility in Mandaue City, Cebu.
The UGE-designed solar PV system will generate approximately 665,000 kWh of solar energy annually, and provide clean, reliable power at less than half the cost of current electricity rates. By installing solar, PSWRI will reduce their reliance on expensive, dirty fossil fuels by generating a significant share of energy on site. UGE will install and maintain the system over its 25+ year lifetime.
"Today Nature's Spring joins the growing chorus of businesses in the Philippines and across the world adopting solar as a way to significantly reduce their energy bills, while simultaneously leaving a cleaner planet for future generations," said Tyler Adkins, Regional Director, Philippines for UGE. "With payback periods less than six years and no-cash-out financing readily available, our solutions allow commercial and industrial clients to lock in cheaper energy today and for the next 25 years."
"Nature's Spring has long been a leader in the communities we serve, and as we grow our company, we want to adopt practices that are sustainable in the long run," said PSWRI's Chief Operating Officer. "For us, the transition to renewable energy is a big part of that future."
Nature's Spring joins Ayala Land Inc, Astoria Palawan and more than a dozen clients across the Philippines, who will be supported via UGE's local subsidiary, UGE Philippines, Inc. "We are excited to announce our new local office in Cebu as we focus on providing cleaner, more affordable electricity to businesses across the Visayas, Luzon & Mindanao," said Adkins. "Our team is growing quickly to satisfy the incredible demand around the country."
About UGE International
UGE delivers immediate savings to businesses through cleaner electricity. We help commercial and industrial clients become more competitive through the low cost of distributed renewable energy. With over 330 MW of experience globally, we work daily to power a more sustainable world. Visit us at www.ugei.com.
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Statements made in this press release include forward-looking statements that involve a number of risks and uncertainties. These statements relate to future events or future performance and reflect management's current expectations and assumptions. A number of factors could cause actual events, performance or results to differ materially from the events, performance and results discussed in the forward-looking statements, such as the completion of the Portfolio, the economy generally, competition in its target markets, the demand for UGE's products and the availability of funding. These forward-looking statements are made as of the date hereof and UGE does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from UGE's expectations and projections.