This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

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

LOUISVILLE, Colo., PORT CHESTER, N.Y., and OLD GREENWICH, Conn., Feb. 4, 2014 (GLOBE NEWSWIRE) -- RGS Energy (Nasdaq: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."

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,619.51 +23.16 0.13%
S&P 500 2,063.11 +5.48 0.27%
NASDAQ 4,986.8670 +28.3990 0.57%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs