Real Goods Solar Inc., a Colorado-based installer of solar power systems, agreed to jointly develop residential projects with Sunrun Inc. in four states.
Real Goods will design and build rooftop solar systems that Sunrun will own and operate through their customer leasing program, the company said in a statement today. The partnership will focus on solar markets in California, Colorado, New York and Massachusetts.
Real Goods, based in Louisville, Colorado, fell 5 percent to $1.04 at the close in New York. The shares have gained 37 percent this year.
Closely held Sunrun is based in San Francisco and has raised $145 million in venture capital to support its leasing program.