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ET | Source: RGS Energy

DENVER, Jan. 16, 2018 (GLOBE NEWSWIRE) -- RGS Energy (NASDAQ:RGSE), America’s Original Solar Company since 1978, completed 2017 with strong sales growth, achievements and milestones, and set the stage for the new year.

2017 Corporate Highlights

  • Added technology plays:
    • Awarded exclusive domestic and international license agreement from The Dow Chemical Company for the POWERHOUSE™ solar shingles system, an innovative and aesthetically pleasing solar shingle system –
      • RGS Energy believes this is a game changer because it now becomes:
        • a technology company insulated by patents creating a barrier to entry by competition
        • a “capital light” manufacturer and distributor, utilizing third party component manufacturers and selling to local roofing companies and new homebuilders for installation
        • a company with a product with “brand” recognition
      • RGS Energy estimates that if it can capture 1% of the re-roof and new home build market the company could be a billion-dollar revenue company
    • Launched Solar 365™, the company’s mobile software and online dashboard suite, creating a better and more engaging customer experience every day of the year
  • Growth in sales and backlog:
    • Improved year-over-year net sales and backlog (see table below)
    • Selected as exclusive installer for the Solarize Cranston, Solarize Granby, Solarize New Haven and Solarize North Haven communities
    • New focus on multi-project commercial customers with commercial sales pipeline increasing to $33.9 million
  • Improved year-over-year financial strength (see table below)

2018 Outlook

  • POWERHOUSE™ Division:
    • RGS Energy expects to achieve UL Certification during the third quarter and begin sales and installation of POWERHOUSE™ 3.0 solar shingles thereafter
    • As previously disclosed, to commercialize the POWERHOUSE™ in-roof solar shingle, the company will require additional financing
  • Solar Division:
    • Steady and improving progress in sales and revenue
    • RGS Energy expects to achieve break-even revenue, apart from POWERHOUSE™, in the third quarter
    • Cash outflow from operations, until break-even results are achieved
  • Investor reporting:
    • Quarterly results press releases disclosing the operational and financial data in the table below
    • Progress on commercialization of POWERHOUSE™

Year-Over-Year Results:

($000’s omitted) 2017
(preliminary)
2016
(reported)
Operational Data:    
Net sales $ 17,400 $ 8,250
Revenue $ 15,100 $ 17,425
Residential installation cycle time (days avg for year)   120   196
Backlog (at year end) $ 12,775 $ 9,375
Total sales organization (headcount at year end)   69   30
Commercial sales pipeline (at year end) $ 33,900 $ 0
     
Pro Forma Financial Data*:    
Cash $ 2,800 $ 2,940
Debt $ 1 $ 787
Shareholders’ equity $ 8,500 $ 4,978
Working capital $ 5,100 $ 2,586

*The pro forma results present the company’s balance sheet as if the net proceeds of the $1.6 million raised on January 3, 2018 was completed on December 31, 2017.

Management Commentary:

“We accomplished much in 2017,” said Dennis Lacey, CEO of RGS Energy. “After several significant and exciting developments, the year culminated with being awarded the worldwide license for POWERHOUSE™ integrated solar shingles using technology developed by The Dow Chemical Company. We’re looking forward to strong growth in 2018 as we celebrate our 40th anniversary.”

Glossary:

The Solar Division - Consists of RGS Energy’s residential homeowner and commercial installations other than the POWERHOUSE™ product and the corporate segment.

The Corporate segment - Includes administrative costs associated with administrative services, legal settlements, legal, information systems, accounting and finance.

Installation and Service Revenue – The company recognizes revenue on residential and small business commercial projects at the time of substantial completion of construction, and on large commercial projects on a percentage of completion basis. Service revenue is recognized as earned.

Substantial completion – The solar power system is fully operational and capable of generating energy, but has not yet received permission to operate from the utility.

Backlog – Represents the dollar amount of revenue that may be recognized in the future from signed contracts to install solar energy systems that have not yet been installed without taking into account possible future cancellations. Backlog is not a measure defined by generally accepted accounting principles, and is not a measure of contract profitability. The company’s methodology for determining backlog may not be comparable to methodologies used by other companies in determining their backlog amounts. The backlog amounts RGS Energy discloses are net of cancellations received and include anticipated revenues associated with (i) the original contract amounts, and (ii) change orders for which the company has received written confirmations from customers. Backlog may not be indicative of future operating results, and projects in RGS Energy’s backlog may be canceled, modified or otherwise altered by customers.

Residential cycle time - Number of days from signing of customer contracts until substantial completion.

Commercial sales pipeline – Estimated one year contract value from potential commercial businesses, non-profit organizations and government entities where either (i) senior RGS Energy’s sales management has had substantive discussions with the prospect and assessed that there is a likelihood of executing a contract or (ii) the potential customer has informed RGS Energy it is their vendor of choice. The company’s methodology for determining sales pipeline may not be comparable to methodologies used by other companies in determining their sales pipeline amounts. Sales pipeline may not be indicative of future operating results, and projects in RGS Energy’s sales pipeline may not result in an executed contract.

About RGS Energy
RGS Energy (Nasdaq:RGSE) is America’s Original Solar Company providing solar, storage and energy services whose mission is clean energy savings. The company sells, designs, and installs solar systems for residential homeowners, commercial businesses, non-profit organizations and government entities, and is also the exclusive manufacturer of POWERHOUSE™, an innovative in-roof solar shingle using technology developed by The Dow Chemical Company.

For more information, visit RGSEnergy.com, RGSPOWERHOUSE.com, on Facebook at www.facebook.com/RGSEnergy and on Twitter at twitter.com/rgsenergy. Information on such websites and the website referred to above in this press release is not incorporated by reference into this press release.

RGS Energy is the company’s registered trade name. RGS Energy files periodic and other reports with the SEC under its official name “Real Goods Solar, Inc.”

POWERHOUSE™ is a trademark of The Dow Chemical Company, used under license.

Forward-Looking Statements and Cautionary Statements

The preliminary financial data discussed above consists of estimates derived from RGS Energy’s internal books and records and has been prepared by, and are the responsibility of, the company’s management. The preliminary estimates discussed above are subject to the completion of financial closing procedures, final adjustments and other developments that may arise between now and the time the financial results for the year ended December 31, 2017 are finalized. Therefore, actual results may differ materially from these estimates and all of these preliminary estimates are subject to change.

This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties, including statements regarding the RGS Energy’s results of operations and financial positions, and RGS Energy’s business and financial strategies.  Forward-looking statements are neither historical facts nor assurances of future performance.  Instead, they provide our current beliefs, expectations, assumptions, forecasts, and hypothetical constructs about future events, and include statements regarding our future results of operations and financial position, business strategy, budgets, projected costs, plans and objectives of management for future operations.  The words “forecast,” “project,” “expect,” “plan,” “future,” “believe,” “may,” “hypothetical,” “will,” “target,” “anticipate,” “estimate,” “outlook” and similar expressions as they relate to RGS Energy are intended to identify such forward-looking statements.

Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all.  Forward looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements.  Therefore, RGS Energy cautions you against relying on any of these forward-looking statements.

Key risks and uncertainties that may cause a change in any forward-looking statement or that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include: RGS Energy’s ability to successfully implement its revenue growth strategy, achieve its target level of sales, generate cash flow from operations, and achieve break-even and better results for its solar division; RGS Energy’s current capital resources being sufficient to implement its revenue growth strategy; the ability to successfully and timely commercialize POWERHOUSE™ 3.0; the ability to obtain requisite certification of POWERHOUSE™ 3.0; the adequacy of, and access to, capital necessary to commercialize POWERHOUSE™ 3.0; RGS Energy’s ability to satisfy the conditions and our obligations under the POWERHOUSE™ 3.0 license agreement; RGS Energy’s ability to manage supply chain in order to have production levels and pricing of the POWERHOUSE™ 3.0 shingles to be competitive; the ability of RGS Energy to successfully expand its operations and employees and realize profitable revenue growth from the sale and installation of POWERHOUSE™ 3.0, and to the extent, anticipated; the potential impact of the announcement of RGS Energy’s expansion into the POWERHOUSE™ 3.0 business with employees, suppliers, customers and competitors; RGS Energy’s ability to successfully and timely expand its POWERHOUSE™ 3.0 business outside of the United States; foreign exchange risks associated with the POWERHOUSE™ 3.0 business; intellectual property infringement claims related to the POWERHOUSE™ 3.0 business; competition in the in-roof solar shingles business; RGS Energy’s ability to utilize the Solar 365™ software to grow revenues, improve the lead-to-conversion rate installation cycle time, and reduce contract cancellations; RGS Energy’s ability to use the software to grow its revenue; and customer acceptance of, experience with and satisfaction with the Solar 365™ software; RGS Energy’s ability to convert opportunities in its commercial sales pipeline to contracts and thereafter revenue; and future cancellations and backlog.

You should read the section entitled “Risk Factors” in our 2016 Annual Report on Form 10-K, as amended, and in our Quarterly Report on Form 10-Q/A for the quarter ended September 30, 2017, each of which has been filed with the Securities and Exchange Commission, which identify certain of these and additional risks and uncertainties. Any forward-looking statements made by us in this press release speak only as of the date of this press release. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities.

Investor Relations Contact:
Ron Both
Managing Partner, CMA
Tel 1-949-432-7566
This email address is being protected from spambots. You need JavaScript enabled to view it.

 

Read more: RGS Energy Reports 2017 Year-in-Review: Added...

Abstract

The synergies between rooftop solar PV (RPV) and energy efficiency (EE) investments in the built environment include lower specific transaction costs, optimized RPV systems, shorter project payback periods (compared to RPV-only projects), and, for EE,... See More + The synergies between rooftop solar PV (RPV) and energy efficiency (EE) investments in the built environment include lower specific transaction costs, optimized RPV systems, shorter project payback periods (compared to RPV-only projects), and, for EE, enhanced project visibility. These synergies improve the likelihood of project implementation, which in turn helps to reduce peak demand, increase environmental benefits, improve energy security, and lower energy bills. Because the methods of financing and implementing RPV and EE in the built environment are often similar, it is wise to consider including an EE component when investing in an RPV project, and vice versa.  See Less -

Read more: Exploiting synergies between rooftop...

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ET | Source: Scatec Solar

Oslo, 11 January 2018: Scatec Solar's CEO, Raymond Carlsen, is today presenting at the Pareto Power & Renewable Energy Conference in Oslo. The presentation can be downloaded below.

For further information, please contact:

Mr. Mikkel Tørud, CFO,             tel: +47 976 99 144       This email address is being protected from spambots. You need JavaScript enabled to view it.

About Scatec Solar
Scatec Solar is an integrated independent solar power producer, delivering affordable, rapidly deployable and sustainable source of clean energy worldwide. A long-term player, Scatec Solar develops, builds, owns, operates and maintains solar power plants, and already has an installation track record of close to 600 MW.

Currently, the company is producing electricity from 322 MW of solar power plants in the Czech Republic, South Africa, Rwanda, Honduras and Jordan and another 394 MW are under construction.

With an established global presence, the company is growing briskly with a project backlog and pipeline of more than 1.5 GW under development in the Americas, Africa, Asia and the Middle East. Scatec Solar is headquartered in Oslo, Norway, and listed on the Oslo Stock Exchange under the ticker symbol 'SSO'.

Attachments:

http://www.globenewswire.com/NewsRoom/AttachmentNg/973c196e-45b3-43cc-8c16-59fb8ac6a9f6

Read more: Scatec Solar's CEO presents at Pareto Power &...

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ET | Source: Scatec Solar

Oslo, January 3, 2018: In line with the terms adopted by the annual general meeting of Scatec Solar ASA in 2017, the Board of Directors continues to implement the option program for leading employees of the company.

Yesterday a total of 459,099 options were granted to leading employees, including the following primary insiders: CEO Raymond Carlsen 76,098, CFO Mikkel Tørud 55,831, EVP Terje Pilskog 48,601, EVP Torstein Berntsen 46,090, EVP Roar Haugland 43,579, and EVP Snorre Valdimarsson 43,579.

Each share option gives the right to subscribe for and be allotted one share in Scatec Solar ASA. The strike price of the options is set to NOK 48.43 per share based on the volume weighted average share price over the last 10 trading days preceding the grant date of January 2, 2018. The options will lapse if not exercised by 1 January 2023. The option grant is divided into three tranches whereby 1/3 vests each year over three years, with the first tranch vesting January 1, 2019. The current grant is the second of three contemplated annual grants of options in accordance with the Scatec Solar share based incentive program. 

About Scatec Solar
Scatec Solar is an integrated independent solar power producer, delivering affordable, rapidly deployable and sustainable source of clean energy worldwide. A long term player, Scatec Solar develops, builds, owns, operates and maintains solar power plants, and already has an installation track record of close to 600 MW.

Currently, the company is producing electricity from 322 MW of solar power plants in the Czech Republic, South Africa, Rwanda, Honduras and Jordan and another 394 MW are under construction.

With an established global presence, the company is growing briskly with a project backlog and pipeline of more than 1.5 GW under development in the Americas, Africa, Asia and the Middle East. Scatec Solar is headquartered in Oslo, Norway.

Read more: Scatec Solar ASA: Long Term Incentive Programme

Abstract

This paper presents recent trends in government and foreign bank ownership across countries and summarizes the evidence regarding the implications of bank ownership structure for bank performance and competition, financial stability, and access to finance... See More + This paper presents recent trends in government and foreign bank ownership across countries and summarizes the evidence regarding the implications of bank ownership structure for bank performance and competition, financial stability, and access to finance. The evidence reviewed suggests that foreign-owned banks tend to be more efficient than domestic banks in developing countries, promote competition in host banking sectors, and help stabilize credit when host countries face idiosyncratic shocks. But there are trade-offs, since foreign-owned banks can also transmit external shocks and might not always contribute to expanding access to credit. The record on the impact of government bank ownership suggests few benefits, especially for developing countries.  See Less -

Read more: Bank ownership trends and implications


Details

Author: Streck,Charlotte ; Kroeger, Alan ; Koenig, Simon ; Thomson, Ashley ; 
Document Date: 2017/12/15 01:14:04
Document Type: Working Paper
Report Number: 122086
Volume No: 1
 

Abstract

Global cocoa production faces mounting environmental and economic challenges. Despite long-term global demand, cocoa producers are confronting the triple challenge of increasing productivity on limited land, reducing pressure on forests and ecosystems, and increasing their resilience to climate change. This report aims to inform governments, companies, and civil society partners on ways to enhance sustainability and encourage smallholders to make deforestation-free, climate-smart choices. The focus is on actions that lead to scaling up renovation and rehabilitation (‘R&R’) efforts in Côte d`Ivoire and Ghana so farmers can grow more cocoa on less land.
 
 
Read more: Forest, and climate-smart cocoa in C...

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ET | Source: Consolidated Edison Company Of NY

photo-release

Timothy P. Cawley
Timothy P. Cawley

Timothy P. Cawley is the new president of Con Edison Co. of New York.

Consolidated Edison Company Of NY

NEW YORK, Jan. 02, 2018 (GLOBE NEWSWIRE) -- A longtime Con Edison executive and electrical engineer, Timothy P. Cawley, has assumed a new role as president of the energy company serving New York City and Westchester County.

His appointment comes at a time of rapid change for the company and industry as customers seek easier access to solar energy, energy efficiency, information to help them manage their usage, and other products and services.

Con Edison Co. of New York, Inc. is a leader in the industry transition, emphasizing clean energy, installing 5.4 million smart meters, and helping customers connect solar arrays and other forms of distributed generation to the grid.

“We’re going to continue to innovate and use technology to give our customers more options, convenience and ability to control their costs,” Cawley said. “Con Edison wants to lead in creating a cleaner energy future in which customers have more options. We’re going to do this while continuing our tradition of industry-leading reliability.”

“Tim is a proven leader in safety and reliability, with expertise in our operations and an unwavering focus on customer service,” said John McAvoy, chairman and CEO of Con Edison Inc., which is the parent company of Con Edison of New York. “He also maintains a strong focus on clean energy solutions, including energy efficiency and renewable power sources.”

Prior to being named president of Con Edison, Cawley was president and chief executive of Orange and Rockland Utilities, another subsidiary of Con Edison Inc.

He also served as senior vice president of Central Operations for Con Edison. His responsibilities included the planning, design, operation and maintenance of the electric transmission system, as well as the company’s primary control center and electric substations.  He also had responsibility for electric and steam generating plants, the steam system, and engineering and construction activities.

Cawley previously served as vice president of Substation Operations, vice president of Bronx and Westchester Electric Operations, general manager of Transmission Operations and director of Gas Operations at O&R.

He joined Con Edison in 1987 and replaces Craig Ivey, who retired after eight years as president of Con Edison.

Cawley holds a Master’s Degree in Business Administration from New York University and a Bachelor’s Degree in Electrical Engineering from Union College. 

Con Edison is a subsidiary of Consolidated Edison, Inc. (NYSE:ED), one of the nation’s largest investor-owned energy companies, with approximately $12 billion in annual revenues and $49 billion in assets. The utility delivers electricity, natural gas and steam to about 3.4 million customers in New York City and Westchester County, N.Y. For additional financial, operations and customer service information, visit conEd.com. For energy efficiency information, visit coned.com/energyefficiency. Also, visit us on Twitter and Facebook.

CONNECT WITH US:

Facebook: https://www.facebook.com/ConEdison
Twitter: https://twitter.com/conedison
YouTube: http://www.youtube.com/conedisonny
Flickr: http://www.flickr.com/photos/conedison/sets/72157627767618832/

Contact: Media Relations
212-460-4111

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/2533452a-fb75-49c6-999e-e35e4149d076

Consolidated Edison Company Of NY

New York, New York, UNITED STATES

Timothy P. Cawley

(JPEG - 374 x 800)

Timothy P. Cawley

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Timothy P. Cawley

Timothy P. Cawley is the new president of Con Edison Co. of New York.

Consolidated Edison Company Of NY

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Consolidated Edison Company Of NY Logo

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Read more: Timothy P. Cawley Becomes President of Con Edison

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ET | Source: SAVO-SOLAR Oy

multilang-release

Savo-Solar Plc
Company Announcement                  12 January 2018 at 5 p.m. (CET)

Savo-Solar Plc - Managers' Transaction, Feodor Aminoff, January 2018

Person subject to the notification requirement
Name: Aminoff, Feodor
Position: Member of the Board/Deputy member
(X) Legal person
Issuer: Savo-Solar Oyj
LEI: 743700J1YZ8IEJAPDL21

-----------------

Notification type: INITIAL NOTIFICATION

Reference number: 743700J1YZ8IEJAPDL21_20180112122608_16

Transaction date: 8.1.2018

Venue: FIRST NORTH FINLAND (FNFI)

Instrument type: SHARE

ISIN: FI4000123096

Nature of the transaction: DISPOSAL

(X) Executed under portfolio or asset management

Transaction Details

Volume: 178736
Unit price: 0.09001 EUR

Aggregated transactions

Volume: 178736
Volume weighted average price: 0.09001 EUR

-------------------

Notification type: INITIAL NOTIFICATION

Reference number: 743700J1YZ8IEJAPDL21_20180112122524_7

Transaction date: 8.1.2018

Venue: FIRST NORTH FINLAND (FNFI)

Instrument type: SHARE

ISIN: FI4000123096

Nature of the transaction: DISPOSAL

(X) Made under life insurance policy

Transaction Details

Volume: 74479
Unit price: 0.09001 EUR

Aggregated transactions

Volume: 74479
Volume weighted average price: 0.09001 EUR

-----------------

SAVO-SOLAR PLC

For more information:

Savo-Solar Plc
Managing Director Jari Varjotie
Phone: +358 400 419 734
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

This company announcement contains information that Savo-Solar Plc is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication by aforementioned contact person on 12 January 2018 at 5 p.m. (CET).


Savo-Solar in brief

Savo-Solar with its highly efficient collectors and large-scale solar thermal systems has taken solar thermal technology to the next level. The company's collectors are equipped with the patented nano-coated direct flow absorbers, and with this leading technology, Savo-Solar helps its customers to produce competitive clean energy. Savo-Solar's vision is to be the first-choice supplier to high performance solar installations on a global scale. Focus is on large-scale applications like district heating, industrial process heating and real estate systems. The company primarily delivers complete systems from design to installation, using the best local partners. Savo-Solar is known as the most innovative company in the business, and aims to stay as such. The company has sold and delivered its products to 17 countries on four continents. Savo-Solar's shares are listed on Nasdaq First North Sweden with the ticker SAVOS and on Nasdaq First North Finland with the ticker SAVOH. www.savosolar.com.

The company's Certified Adviser is Augment Partners AB, phone: +46 8-505 65 172.

Read more: Savo-Solar Plc - Managers' Transaction, Feodor...

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ET | Source: RGS Energy

DENVER, Jan. 04, 2018 (GLOBE NEWSWIRE) -- RGS Energy (NASDAQ:RGSE), a residential and small commercial solar company since 1978, has completed the previously announced $1.8 million offering of (i) 800,000 shares of Class A common stock, (ii) Prepaid Series P Warrants to purchase an aggregate of 800,000 shares of Class A common stock, and (iii) Series O Warrants to purchase an aggregate of 1,600,000 shares of Class A common stock. The investor paid $1.15 per share of Class A common stock and $1.14 per share of Class A common stock underlying Series P Warrants at closing, for aggregate gross proceeds of approximately $1.8 million.

The Series O Warrants are exercisable six months following issuance at an exercise price of $1.47 per share and for a period of five years thereafter. The Series P Warrants are exercisable immediately after issuance and for a period of five years thereafter at an exercise price of $1.15 per share, of which $1.14 per share was paid at the closing with $0.01 per share payable upon exercise of the Series P Warrants. The warrants will not be separately listed for trading. The terms of the transaction and the warrants are described in the Current Report on Form 8-K filed by RGS Energy on January 2, 2018.

After placement agent fees and other estimated offering expenses, the net offering proceeds to RGS Energy total approximately $1.5 million.

WestPark Capital, Inc. acted as the exclusive placement agent in the offering.

The shares of Class A common stock and the Series P Warrants were, and the shares of Class A common stock issuable upon exercise of the Series P Warrants will be, offered pursuant to a prospectus supplement and an accompanying prospectus filed as part of an effective shelf registration statement filed with the U.S. Securities and Exchange Commission (“SEC”). The Series O Warrants were, and the shares of Class A common stock issuable upon exercise of the Series O Warrants will be, offered in a concurrent private placement and have not been registered under the Securities Act of 1933, as amended. The prospectus supplement relating to the offering was filed with the SEC on January 2, 2018 and is available on www.sec.gov.

About RGS Energy
RGS Energy (Nasdaq:RGSE) is America’s Original Solar Company providing solar, storage and energy services whose mission is clean energy savings. The company sells, designs, installs solar systems for residential homeowners, commercial businesses, non-profit organizations and government entities, and is also the exclusive manufacturer of POWERHOUSE™, an innovative in-roof solar shingle using technology developed by The Dow Chemical Company.

For more information, visit RGSEnergy.com, RGSPOWERHOUSE.com, on Facebook at www.facebook.com/RGSEnergy and on Twitter at twitter.com/rgsenergy. Information on such websites and the website referred to above in this press release is not incorporated by reference into this press release.

RGS Energy is the company’s registered trade name. RGS Energy files periodic and other reports with the SEC under its official name “Real Goods Solar, Inc.”

POWERHOUSE™ is a trademark of The Dow Chemical Company, used under license.

Cautionary Statement Regarding Forward-Looking Statements
This press release by RGS Energy contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. Such forward-looking statements include, but are not limited to, statements regarding RGS Energy’s future fund raising plans, business strategy and the anticipated use of proceeds of the offerings. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they provide our current beliefs, expectations, assumptions, forecasts, and include statements regarding our future results of operations and financial position, business strategy, budgets, projected costs, plans and objectives of management for future operations. The words “plan,” “expect,” “may,” “will” and similar expressions as they relate to RGS Energy are intended to identify such forward-looking statements.

Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all. Forward looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward looking statements. Therefore, RGS Energy cautions you against relying on any of these forward-looking statements.

Key risks and uncertainties that may cause a change in any forward-looking statement include: whether RGS Energy will receive any proceeds from the exercise of Series O Warrants or Series P Warrants. You should read the section entitled “Risk Factors” in our 2016 Annual Report on Form 10-K, as amended, and in our Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2017, and in the prospectus supplement related to the offering described above, each of which has been filed with the SEC, and which identify certain of these and additional risks and uncertainties. Any forward-looking statements made by RGS Energy in this press release speak only as of the date of this press release. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible to predict all of them. RGS Energy does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

Media and Investor Relations Contact for RGS Energy:  
Ron Both, Managing Partner
Capital Market Access, LLC (CMA)
Tel 1-949-432-7566
This email address is being protected from spambots. You need JavaScript enabled to view it.

Read more: RGS Energy Completes $1.8 Million Common Stock...



Abstract

The financial viability of the power sector is a prerequisite for attracting the investment needed to ensure reliable energy supply, meet universal access targets, and hasten the clean energy transition. Adequate pricing of electricity to allow for cost recovery is also important to minimize the power sector’s negative macroeconomic, fiscal, environmental, and social impacts. This paper takes stock of the empirical and conceptual literature on the financial viability and cost recovery of the power sector in developing countries. Time-series data across countries are relatively scarce, but comparing the findings from 21 studies suggests that under-recovery of costs remains pervasive despite decades of efforts by governments and development institutions. Large electricity subsidies continue to burden governments, especially in the Middle East, South Asia, Central Asia, and Sub-Saharan Africa. Reviews by the World Bank and International Monetary Fund on outcomes of their own engagement also conclude that progress on cost recovery in supported countries has been limited. Although the aggregated view obscures fluctuation within individual countries over time, the available evidence suggests that countries progressing toward cost recovery may find themselves backsliding within a few years. As for understanding the circumstances under which progress can be made, a handful of studies point toward a correlation between sector reforms and cost recovery, although few of the studies address obvious endogeneity problems. To provide more solid guidance for future efforts to improve cost recovery, more research is needed on: (i) the determinants and enabling conditions of progress on cost recovery; (ii) tariff reform sequencing; and (iii) institutional arrangements, policies, and regulations that enable countries to sustain cost recovery once it is reached.
Show More
 
 
Read more: Cost recovery and financial...

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ET | Source: Scatec Solar

Oslo, January 12, 2018: Scatec Solar ASA will release its fourth quarter results on Friday, January 26, 2018 at 07:00 (CET).

A presentation of the results will be held on the same day at 08:00. The location of the presentation is Høyres Hus (6th floor), Stortingsgata 20, 0161 Oslo. The presentation and Q&A session can be followed through a live webcast from our website on www.scatecsolar.com/investor.

For more information, please contact:

Mikkel Tørud, CFO,       tel: +47 976 99 144       This email address is being protected from spambots. You need JavaScript enabled to view it.  

About Scatec Solar
Scatec Solar is an integrated independent solar power producer, delivering affordable, rapidly deployable and sustainable source of clean energy worldwide. A long-term player, Scatec Solar develops, builds, owns, operates and maintains solar power plants, and already has an installation track record of close to 600 MW.

Currently, the company is producing electricity from 322 MW of solar power plants in the Czech Republic, South Africa, Rwanda, Honduras and Jordan and another 394 MW are under construction.

With an established global presence, the company is growing briskly with a project backlog and pipeline of more than 1.5 GW under development in the Americas, Africa, Asia and the Middle East. Scatec Solar is headquartered in Oslo, Norway.

Subscribe for press releases here: www.scatecsolar.com/investor/stock-exchange-notices/subscribe

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Read more: Invitation to presentation of Scatec Solar ASA's...

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ET | Source: RGS Energy

DENVER, Jan. 03, 2018 (GLOBE NEWSWIRE) -- RGS Energy (the “Company”) (NASDAQ:RGSE), the nation’s original solar company since 1978, announced today that it has reached an agreement with Iroquois Master Fund Ltd. and certain of its affiliates (collectively, “Iroquois”) pursuant to which Iroquois has agreed to cease soliciting proxies in opposition to, and to support, the Company’s proposals for the 2017 annual meeting of shareholders.

The Company, despite repeated attempts, has to-date not been able to receive a sufficient number of proxy cards from its shareholders to achieve a quorum to hold its 2017 annual meeting of shareholders.  As a Nasdaq listed company, the Company is required to hold an annual meeting each year.

As part of the agreement, at the Company’s 2017 annual meeting of shareholders, Iroquois will vote all of its shares in support of the slate of the current directors, the proposal to amend the Company’s 2008 Long-Term Incentive Plan, and the ratification of auditors.  Under the terms of the agreement, Iroquois has agreed to abide by certain standstill provisions that prevent it, among other things, from engaging in any shareholder solicitations in opposition to the Company through the date that is 30 days before the expiration of the advance notice period for submission of director nominations for consideration at the Company’s 2022 annual meeting of shareholders.  The agreement also contains mutual releases and mutual non-disparagement obligations.  The Company is issuing 600,000 shares of its Class A common stock to Iroquois as reimbursement for and in consideration of Iroquois’ expenses incurred in connection with the matters related to the 2017 annual meeting.

The complete agreement between the Company and Iroquois will be filed with the Securities and Exchange Commission in a Current Report on Form 8-K.

RGS Energy and Iroquois Commentary
“Our expectation is that this agreement will permit brokerage firms holding our shareholders’ shares in street name to vote uninstructed shares at the Company’s 2017 annual meeting so that the Company can achieve a quorum.  We believe remaining a Nasdaq listed company, curtailing the costs of this matter, and allowing the Company to focus on its growth plans is in the best interests of the Company,” stated Dennis Lacey, CEO of the Company.

Rich Abbe, managing partner of Iroquois, added: “We recognize that since filing our alternative proxy, the Company’s management has improved upon its prospects by continuing to execute the Company’s revenue growth plan and securing the exclusive license for the in-roof solar shingle, POWERHOUSE™.”

About RGS Energy
RGS Energy (Nasdaq:RGSE) is America’s Original Solar Company providing solar, storage and energy services whose mission is clean energy savings. The company sells, designs, installs solar systems for residential homeowners, commercial businesses, non-profit organizations and government entities, and is also the exclusive manufacturer of POWERHOUSE™, an innovative in-roof solar shingle using technology developed by The Dow Chemical Company. 

For more information, visit RGSEnergy.com, RGSPOWERHOUSE.com, on Facebook at www.facebook.com/RGSEnergy and on Twitter at twitter.com/rgsenergy. Information on such websites and the website referred to above in this press release is not incorporated by reference into this press release.

RGS Energy is the Company’s registered trade name. The Company files periodic and other reports with the Securities and Exchange Commission under its official name “Real Goods Solar, Inc.”

POWERHOUSE™ is a trademark of The Dow Chemical Company, used under license.

Forward-Looking Statements and Cautionary Statements
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties, including statements regarding the RGS Energy’s results of operations and financial positions, and RGS Energy’s business and financial strategies. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they provide our current beliefs, expectations, assumptions, forecasts, and hypothetical constructs about future events, and include statements regarding our future results of operations and financial position, business strategy, budgets, projected costs, plans and objectives of management for future operations. The words “forecast,” “project,” “expect,” “plan,” “future,” “believe,” “may,” “hypothetical,” “will,” “anticipate” and similar expressions as they relate to RGS Energy are intended to identify such forward-looking statements.

Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all. Forward looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Therefore, RGS Energy cautions you against relying on any of these forward-looking statements.

Key risks and uncertainties that may cause a change in any forward-looking statement or that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include: RGS Energy’s ability to achieve a quorum and hold its 2017 Annual Meeting;  successfully implement its revenue growth strategy and achieve break-even and better results for its solar division; RGS Energy’s current capital resources being sufficient to implement its revenue growth strategy; the ability to successfully and timely commercialize POWERHOUSE™ 3.0; the ability to obtain requisite certification of POWERHOUSE™ 3.0; the adequacy of, and access to, capital necessary to commercialize POWERHOUSE™ 3.0; RGS Energy’s ability to satisfy the conditions and our obligations under the POWERHOUSE™ 3.0 license agreement; RGS Energy’s ability to manage supply chain in order to have production levels and pricing of the POWERHOUSE™ 3.0 shingles to be competitive; the ability of RGS Energy to successfully expand its operations and employees and realize profitable revenue growth from the sale and installation of POWERHOUSE™ 3.0, and to the extent, anticipated; the potential impact of the announcement of RGS Energy’s expansion into the POWERHOUSE™ 3.0 business with employees, suppliers, customers and competitors; RGS Energy’s ability to successfully and timely expand its POWERHOUSE™ 3.0 business outside of the United States; foreign exchange risks associated with the POWERHOUSE™ 3.0 business; and RGS Energy’s ability to remain listed on Nasdaq.

You should read the section entitled “Risk Factors” in our 2016 Annual Report on Form 10-K, as amended, and in our Quarterly Report on Form 10-Q/A for the quarter ended September 30, 2017, each of which has been filed with the Securities and Exchange Commission, which identify certain of these and additional risks and uncertainties. Any forward-looking statements made by us in this press release speak only as of the date of this press release. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

Investor Relations Contact 
Ron Both 
Managing Partner, CMA 
Tel 1-949-432-7566
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Details

Document Date: 2017/12/15 00:01:00
Document Type: Working Paper
Report Number: 122076
Volume No: 1
 

Abstract

Since 2013, a new legislation was being drafted by the Senate of Brazil, in response to the perception that the Agencies often lack financial, administrative and decision making autonomy, are subject to capture by both overt and tacit political interference, with appointees lacking the necessary skills and independence. In infrastructure, regulatory uncertainty and the resort to the court of law in matters that should normally be decided by the agencies and accepted by affected parties is particularly harmful when government faces excess (and growing) demand for infrastructure services. After being discussed and approved in two key Senate commissions, the draft law (DL) was approved unanimously by the Senate Special Commission on National Development with no need to go to the floor. The DL provides the agencies with considerable formal autonomy, being no coincidence that this is made explicit at the outset of the legislation (Article 3). While the DL provides substantial autonomy to the agencies, it also defines the mechanisms for external control and accountability in its second chapter. The fundamental reason for the support of the DL is the high degree of autonomy conferred on the agencies, guaranteeing independence of political interests, technical excellence, and greater transparency and accountability. Finally, the DL strongly encourages inter-agency cooperation, partly in response to a recurrent criticism regarding barriers facing firms when dealing with different government agencies both national and subnational.
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