Real Goods Solar and BlueWave Capital to Deploy Four Solar Projects in
RGS Energy to Engineer, Construct and Monitor More than 3.5 MW of Renewable
LOUISVILLE, Colo., Jan. 3, 2014 (GLOBE NEWSWIRE) -- RGS Energy, the commercial
and utility division of Real Goods Solar, Inc. (Nasdaq:RSOL), and BlueWave
Capital, one of the leading developers of solar energy projects in
Massachusetts, are to deploy four new solar farms in Massachusetts.
RGS Energy will design, install, monitor and maintain the four systems
totaling 3.5 megawatts (MW). The company expects to begin construction in
March 2014 and to be completed in June of 2014.
The fixed array ground mount solar systems will be designed to generate more
than 4.5 million kilowatt hours of solar electricity annually. Over 25 years,
the solar energy produced could offset more than 166 million pounds of carbon
dioxide emissions, the equivalent to planting more than 1.9 million trees
(estimated per EPA-based data). It will help Massachusetts reach its goal of
1,600 MW of solar power installations by 2020.
"These four projects are among the nearly 60 MW of solar that BlueWave Capital
has under development in the state of Massachusetts," said John DeVillars,
managing principal and founder of BlueWave Capital. "Given RGS Energy's
position as a national leader in solar, especially in Massachusetts, we look
forward to working closely with their team in deploying these projects. With
their participation, we are able to help the Commonwealth reach its renewable
These projects qualify for the state of Massachusetts' SREC 1 program that
helped spawn the dramatic growth of the solar industry in the state over the
last two years.
Tim Seamans, RGS Energy's general manager, commented: "We are proud to provide
our experience and expertise in building solar farms in Massachusetts through
our collaboration with BlueWave Capital. These projects are a great example of
what is possible to accelerate the deployment of renewable energy both in
Massachusetts and other states."
About BlueWave Capital
BlueWave Capital, LLC is a renewable energy project development and management
company with a focus on solar photovoltaic development in New England, South
Africa and the Caribbean. BlueWave has more than 70 MW of solar projects under
development in the United States and an additional 50 MW of projects under
development in South Africa and the Caribbean.
About Real Goods Solar, Inc.
Real Goods Solar, Inc. (Nasdaq:RSOL) is one of the nation's pioneering solar
energy companies serving commercial, residential, and utility customers.
Beginning with one of the very first photovoltaic panels sold to the public in
the U.S. in 1978, the company has installed more than 16,000 solar power
systems representing well over 120 megawatts of 100% clean renewable energy.
Real Goods Solar makes it very convenient for customers to save on their
energy bill by providing a comprehensive solar solution, from design,
financing, permitting and installation to ongoing monitoring, maintenance and
support. As one of the nation's largest and most experienced solar power
players, the company has 17 offices across the West and the Northeast. It
services the commercial and utility markets through its RGS Energy division.
For more information, visit RealGoodsSolar.com or RGSEnergy.com, on Facebook
at www.facebook.com/realgoodssolar and on Twitter at
Cautionary Statement Regarding Forward-Looking Statements
This communication includes forward-looking statements relating to matters
that are not historical facts. Forward-looking statements may be identified by
the use of words such as "expect," "intend," "believe," "will," "should" or
comparable terminology or by discussions of strategy. While Real Goods Solar
believes its assumptions and expectations underlying forward-looking
statements are reasonable, there can be no assurance that actual results will
not be materially different. Risks and uncertainties that could cause
materially different results include, among others, receiving shareholder
approval for the proposed merger with Mercury Energy, Inc. ("Mercury"),
successfully closing the Mercury merger, realizing synergies and other
benefits from the Mercury merger, introduction of new products and services,
completion and integration of acquisitions, possibility of negative economic
conditions and other risks and uncertainties included in Real Goods Solar's
filings with the Securities and Exchange Commission. Real Goods Solar assumes
no duty to update any forward-looking statements.
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