June 5, 2009 / 2:21 PM / 11 years ago

UPDATE 1-Real Goods Solar gets $30 mln contract, shares jump

* Signs deal with Fremont Union High School District

* To install solar electric systems totalling 3.65 MW

* Says systems to cut $12 mln costs in 25 yrs

* Shares rise as much as 56 pct

June 5 (Reuters) - Solar energy integrator Real Goods Solar RSOL.O said it received a contract worth more than $30 million to design and install solar electric systems totalling 3.65 megawatts, sending its shares up 56 percent.

Five solar systems for the Fremont Union High School District in Sunnyvale, Cupertino and west San Jose, California, one each in the high schools there, will provide electricity to cover about 45 percent of their power usage.

The systems are expected to save district taxpayers over $12 million in the cost of electricity over the next 25 years, it said.

Shares of the Campbell, California-based company pared some of their early gains and were up 44 percent at $2.99 Friday morning on Nasdaq. They touched a high of $3.25 earlier in the session. (Reporting by Antonita Madonna Devotta in Bangalore; Editing by Gopakumar Warrier)

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