Key Developments For Real Goods Solar, Inc.
Real Goods Solar, Inc. (RSOL.O) (Consolidated Issue listed on NASDAQ Global Market)
Real Goods Solar, Inc. CEO To Step Down-Reuters
Reuters reported that Real Goods Solar, Inc. said its Chief Executive (CEO) Tom McCalmont would step down. In a filing with the U.S. Securities and Exchange Commission, the Company said President John Schaeffer would assume additional responsibilities.
Real Goods Solar, Inc. Signs Large Multi-Site Contract With Northrop Grumman
Real Goods Solar, Inc. that it has signed a large multi-site contract with Northrop Grumman to design and install three large solar electric systems on two separate U.S. Navy bases in the southwestern United States. Construction of the systems is scheduled to begin in the fourth quarter of 2009 and to be completed in the subsequent 4 to 6 months.
Real Goods Solar, Inc. To Install $30 Million Solar Power Program For Fremont Union High School District
Real Goods Solar, Inc. announced that it has signed a contract to design and install solar electric systems totaling 3.65 megawatts for the Fremont Union High School District in Sunnyvale, Cupertino and west San Jose, California. The five systems will contribute enough electricity to cover about 45% of the power usage of each school. This solar program, exceeding $30 million, is believed to be the largest direct purchase by a secondary school system in North America, financed by a portion of a $198 million school bond approved by the District`s voters in June 2008.
Real Goods Solar, Inc. Merges With Regrid Power
Real Goods Solar, Inc. announced that it has expanded its business through a merger with Regrid Power, Inc. of Campbell, CA. Consideration paid, including debt assumed, was less than one times trailing twelve months revenue, and will consist of one-third cash and two-thirds stock, as well as an 'earn out' provision. Terms of the transaction were not mentioned.
Real Goods Solar, Inc. Acquires Independent Energy Systems
Real Goods Solar, Inc. announced that it has expanded its solar energy integration business through the acquisition of Independent Energy Systems, Inc. (IES) of Santa Cruz, CA. IES is a primarily residential solar energy integrator. Consideration paid, including debt assumed, was within Real Goods Solar's target range of paying between 50%-60% of 2007 revenues.
