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Real Goods Solar And BlueWave Capital To Deploy Four Solar Projects In Massachusetts

Stocks in this article: RSOL

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."

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