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 energy goals."
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 www.twitter.com/realgoodssolar.
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.