RGS Energy and Altus Power America Management Form RGS Energy Asset Management, a Joint Venture to Fund, Build and Manage up to $150 Million in Solar Projects GlobeNewswire RGS Energy 19 minutes ago
LOUISVILLE, Colo., PORT CHESTER, N.Y., and OLD GREENWICH, Conn., Feb. 4, 2014 (GLOBE NEWSWIRE) -- RGS Energy (RSOL), a nationwide leader of turnkey solar energy solutions for residential, commercial, and utility customers, and Altus Power America Management, an investor in and manager of solar power projects, formed a new joint venture, RGS Energy Asset Management LLC. The purpose of the joint venture is to develop, finance and manage up to $150 million of commercial solar projects.
"Our partnership with Altus is unique in that it takes advantage of best practices from both organizations developed over many years of solar energy experience," said Andrew Zaref, vice president of project finance at RGS Energy and president of RGS Energy Asset Management. "It also represents RGS Energy's first foray into asset energy ownership and long-term asset management, as well as creates a great platform to fuel growth and access to untapped and new markets."
The joint venture is designed to bring RGS Energy into the arena of energy asset ownership, leveraging both organizations' expertise in developing, building and owning energy assets. The partners will jointly manage the available pool of capital, so funds can be more quickly and efficiently deployed to propel growth. Further, it allows RGS Energy to integrate credit qualification and capital sourcing into its core operations. This integrated approach is expected to streamline and improve RGS Energy's already industry leading customer acquisition, engineering, construction and project monitoring capabilities.
"Altus and RGS Energy are working together to solve many of the issues that have prevented large scale and repeatable deployment of affordable solar power," said Lars Norell, managing partner of Altus Power America Management. "This joint venture is expected to allow us to identify attractive solar power projects across the country and efficiently deploy capital throughout the US solar market. We anticipate that this initial deployment of $150 million of capital will be the first of many as we partner with RGS Energy, a leading solar company in the country, to create and enhance value for both organizations."
Kam Mofid, RGS Energy's CEO, said: "This joint venture is an excellent example of how we are broadening the reach and scope of our business activities to accelerate growth, enhance margins, and to better serve our customers. It also provides us the future flexibility to deploy our own capital through the joint venture, at the amount of our choosing, as we extend into the energy asset ownership domain."
The joint venture will offer power purchase agreements and other financial solutions to customers. The parties expect the first fully financed projects to be operational as early as the second quarter of 2014.
RGS Energy's clean energy services are currently available in Arizona, California, Colorado, Connecticut, Delaware, the District of Columbia, Maryland, Massachusetts, Oregon, New Jersey, New York, Pennsylvania, Rhode Island, Texas, Vermont, Washington, and Puerto Rico.
About Altus Power America Management, LLC Altus Power America Management, LLC is an Old Greenwich, Connecticut-based company that invests in, owns and operates clean energy projects. The partners' financial expertise and backgrounds in construction, engineering and design combined with the firm's institutional sponsorship provide an efficient and scalable platform to provide renewable energy and solar solutions to commercial and public sector clients. Visit www.altuspower.com for more information.
About RGS Energy RGS Energy (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 19,000 solar power systems representing well over 170 megawatts of 100% clean renewable energy. RGS Energy 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. For more information, visit RGSEnergy.com, on Facebook at www.facebook.com/rgsenergy and on Twitter at www.twitter.com/rgsenergy. RGS Energy is a trade name and RGS Energy makes filings with the Securities and Exchange Commission under its official name "Real Goods Solar, Inc."
: wer jetzt aussteigt... wird einiges verpassen
das ist der absolute Hammer diese Meldung, Jinko2013 und du hast nochmal günstig nachgekauft heute morgen, so günstig wird man sie wahrscheinlich nie mehr bekommen... Ab heute kennt jeder RSOL in den USA... Viel Spass heute allen hier...
Grundsätzlich hast Du ja Recht, aber der Nachrichtenflow sollte lt dieser Pressemitteilung ja anhalten. Das ist die Zündung für ca. 600 Mio. US$! Bei einer Marktkapitalisierung von 140 Mio. somit noch einiges im Kurs möglich! Jetzt werden erst mal ein paar Gewinne eingestrichen und ab 16:30 geht es Richtung norden!
Denn die meisten machen, ist in einer Korrektur zu verkaufen. Hab ich auch oft genug gemacht. Mann muß cool und hart bleiben. Der allgemeine Markt ist zur Zeit schlecht bzw nervös, aber nicht die Aktie bzw.das Unternehmen. Es gibt hir noch reichlich Potenzial. Was in einigen Tagen verloren ging. Hat man ja heute fast schon wieder drin. Wenn sich der allgemeine Markt wieder stabilisiert, sind wir in wenigen Tagen wieder auf 3.50 ? wenn nicht schon diese Woche! Jungs echt drin bleiben, in zwei bis vier Wochen werdet ihr es bereuen verkauft zu haben.......
: Der US Residental Solar Markt im Übernahmefieber
SunRun acquires REC Solar Inc.'s residential business, AEE Solar, SnapNrack
REC Solar installation Sunrun's acquisition of REC Solar's residential division gives the company in-house installation services, similar to competitor SolarCity. (REC Solar)
SunRun Inc. (San Francisco, California, U.S.) has expanded its presence the U.S. residential solar photovoltaic (PV) market with the acquisition of three subsidiaries of Mainstream Energy (San Luis Obispo, California, U.S.).
SunRun has acquired AEE Solar, SnapNrack and the residential division of REC Solar Inc. These companies represented Mainstream's residential PV sales, design and installation, wholesale distribution, and mounting systems and hardware businesses.
?We continue to innovate our business to further drive down costs, increase quality and broaden our reach to consumers so more homeowners have access to affordable home solar,? said Sunrun CEO Lynn Jurich. ?The residential solar market is growing rapidly and this acquisition marks the next step in our multi-channel growth strategy.?
?REC Solar's residential division, AEE Solar and SnapNrack complement our thriving channel business and further enable us to fulfill the enormous market potential for home solar nationwide.?
Downstream move similar to SolarCity
Sunrun's business model involves providing solar leases and power purchase agreements in cooperation with a network of independently-owned installers. REC Solar became the company's first installer partner in 2007, and has since installed PV plants for thousands of homeowners.
The acquisition brings Sunrun's business model closer to that of competitor SolarCity Corp. (Menlo Park, California, U.S.), which provides in-house installation services as well as internally supplied components through its acquisition of Zep Solar.
In a similar manner, Sunrun has now acquired component supplier SnapNrack.
Mainstream CEO to join Sunrun
With the acquisition, Sunrun has expanded its executive team. Mainstream CEO Paul Winnowski will join Sunrun as Chief Operating Officer, and Mainstream Chair Timothy Ball will join Sunrun's board. Additionally, Tom Holland has been appointed president, with Lynn Jurich remaining Sunrun CEO.
REC Solar commercial business to continue
REC Solar's commercial business has remained under Mainstream Energy, and will continue to offer PV systems to businesses, federal agencies and utilities under the REC Solar brand. The company will be led by new CEO Paul Detering.
Waren schon über 4$ im premarket.Jetzt wieder rote Vorzeichen. Grausam,dieses ewige hin und her. Man traut sich gar nicht mehr weg vom PC,es könnte ja plötzlich irgendwas passieren und man war nicht dabei!
: Jetzt auch bei Solarserver.com zu lesen
RGS Energy, Altus Power create JV to fund and own commercial solar PV projects
Installation of rooftop PV plant RGS Energy has installed more than 19,000 PV systems representing over 170 MW of capacity. (RGS Energy)
Real Goods Solar Inc. (RGS Energy, Louisville, Colorado, U.S.) and Altus Power America Management (Old Greenwich, Connecticut, U.S.) have formed a new joint venture (JV) to develop, finance and manage up to USD 150 million in commercial solar photovoltaic (PV) projects.
The two companies will jointly manage available capital through RGS Energy Management LLC, which they say will enable the more rapid and efficient deployment of funds for projects. The companies expect the first fully financed projects to be online as early as the second quarter of 2014.
?Altus and RGS Energy are working together to solve many of the issues that have prevented large scale and repeatable deployment of affordable solar power,? said Altus Power Managing Partner Lars Norell. ?This joint venture is expected to allow us to identify attractive solar power projects across the country and efficiently deploy capital throughout the US solar market.?
?We anticipate that this initial deployment of $150 million of capital will be the first of many as we partner with RGS Energy, a leading solar company in the country, to create and enhance value for both organizations.?
The JV will offer power purchase agreements and other financial solutions to customers. This will be RGS Energy's first experience with asset ownership, and PV asset ownership is increasingly being seen as an attractive option by power companies.
REC Solar to focus on commercial market, residential arm acquired by Sunrun
SunRunRec. SunRun?s social media team wrote on the company?s Facebook page, ?Combining our businesses will help bring low cost and high quality solar to as many Americans as possible.? Image: SunRun Facebook page.
US installer REC Solar has announced that it is set to focus its future efforts solely on the commercial PV market, offloading its residential segment to solar developer and financier Sunrun.
REC Solar will now trade under the name REC Solar Commercial Corp, installing commercial-scale systems for businesses, federal agencies and utilities.
REC Solar board member Angiolo Laviziano said: ?The commercial market is projected to grow upwards of 40 percent in 2014, and this business division will strengthen REC Solar?s leadership position in the space.?
Mainstream Energy, the parent company of US-based REC Solar - a separate company to REC Solar ASA, which itself is a newly formed entity of Renewable Energy Corporation Group (REC Group) headquartered in Singapore - has also sold its divisions responsible for wholesale distribution and mounting systems and hardware businesses, AEE Solar and SnapNRack, to SunRun.
REC Solar recently appointed a new chief executive officer, Paul Detering, previously the head of solar system developer and power purchase agreement (PPA) provide Tioga Energy, with particular experience in serving ?commercial, non-profit and governmental customers?.
Detering pointed out that there are fundamental differences, including customer bases and sources of income in the residential and commercial markets and said that leaving behind the residential market would allow the company to offer better service to commercial customers.
Some leadership changes have also taken place at Sunrun under the terms of the acquisition deal. Lynn Jurich, formerly co-chief executive officer with Ed Fenster, is now Sunrun chief executive officer, while Fenster is now the company?s chairman. Together, Fenster and Jurich co-founded the company. Former chief operating officer Tom Holland is now company president, overseeing strategy and execution, while his replacement as chief operating officer is Mainstream Energy chief executive officer Paul Winnowski. Winnowski?s Mainstream Energy colleague, chairman Timothy Ball has now been appointed to Sunrun?s board of directors.
Sunrun?s social media team wrote on the company?s Facebook page, ?Combining our businesses will help bring low cost and high quality solar to as many Americans as possible.?
Sunrun chief executive officer Lynn Jurich said, "The residential solar market is growing rapidly and this acquisition marks the next step in our multi-channel growth strategy. REC Solar's residential division, AEE Solar and SnapNrack complement our thriving channel business and further enable us to fulfill the enormous market potential for home solar nationwide."
The news appeared to cause some confusion around the industry. REC Solar?s twitter feed in the hours following the announcement was filled with dozens of tweets by the company clarifying the news and stating that only the residential arm has changed hands, to various interested parties including international media.