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| Source: Scatec Solar

Oslo, July 20, 2018: Scatec Solar ASA reported second quarter proportionate revenues of NOK 1,299 million (NOK 167 million in second quarter 2017), and EBITDA reached NOK 266 million (100).

The increase in proportionate revenues and EBITDA is reflecting a significant step up in construction activities compared to last year. Construction continues for 1.1 GW of solar power plants in Malaysia, Brazil, Honduras, Mozambique and construction activities have just commenced in Egypt and South Africa. The high level of activity lead to D&C revenues of NOK 1,045 million (0) and EBITDA of NOK 140 million (-18) in the quarter. Gross NOK 600 million of equity was raised in June to fund further growth of the company.

"We are very pleased to report significant increase in construction activities and solid financial results in the quarter. We have secured 117 MW in Argentina and 130 MW in Ukraine in the quarter and total project backlog and pipeline increased to 4.5 GW. We continue to see attractive market opportunities with a target of reaching a capacity of 3.5 GW by end of 2021", says CEO Raymond Carlsen.

Scatec Solar's second quarter consolidated revenues reached NOK 286 million (279), and EBITDA reached NOK 212 million (217).

For further details, please see attached the second quarter report and presentation.

A presentation of the results will be held today at 08.00 (CET) at Høyres Hus, Stortingsgata 20, 0161 Oslo. The presentation and Q&A session can also be followed through a live webcast from our website www.scatecsolar.com/investor.

For further information, please contact:

Mr. Raymond Carlsen, CEO,          tel: +47 454 11 280           This email address is being protected from spambots. You need JavaScript enabled to view it.

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 clean energy worldwide. A long- term player, Scatec Solar develops, builds, owns, operates and maintains solar power plants and has an installation track record of 1,000 MW. The company is producing electricity from 322 MW of solar power plants in the Czech Republic, South Africa, Rwanda, Honduras and Jordan and has 1,092 MW under construction.

With an established global presence and a significant project pipeline, the company is targeting a capacity of 3.5 GW in operation and under construction by end of 2021. Scatec Solar is headquartered in Oslo, Norway and listed on the Oslo Stock Exchange under the ticker symbol 'SSO'. To learn more, visit www.scatecsolar.com

Read more: Second quarter 2018 results - ramping up...

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| Source: Statkraft AS

multilang-release

Higher power prices and lower generation

(Oslo, 19 July 2018) Statkraft recorded an underlying EBIT amounting to NOK 1428 million in the second quarter. This was a decrease of NOK 621 million from the corresponding period in 2017. The reduction was driven by unrealised effects in Market operations stemming partly from changed valuation methodology. Significantly lower Norwegian hydropower generation was offset by substantially higher Nordic power prices. The quarterly net profit ended at NOK 271 million.

The average Nordic system price in the quarter was 39.1 EUR/MWh, an increase of 42 per cent compared with the price level experienced in the same quarter in 2017. Statkraft's total generation was 11.5 TWh, a decrease of 22 per cent.  

In total for the first half year of 2018 Statkraft achieved an underlying EBIT of NOK 7390 million, an increase of NOK 1351 million compared with the same period in 2017. The main drivers for the improvement were significantly higher Nordic power prices and successful energy management.

- We have strong performance year to date with a net profit of NOK 10.5 billion. This contributes to providing a solid  financial position as we now plan to ramp up investments in renewables, says CEO Christian Rynning-Tønnesen. 

Statkraft has updated the strategy in response to technological development in each market. Flexible hydropower and intermittent onshore wind and solar power will be combined to deliver reliable, renewable and cost competitive energy to the customers. The updated strategy has four pillars: 

  • Optimise the hydropower portfolio
  • Ramp up as wind and solar developer
  • Grow the customer business
  • Develop new business within decarbonisation and renewable energy

- The strategy will ensure that Statkraft remains a leading company at the core of the renewable energy transition. Our commitment to act in an ethical and socially responsible manner continues to be a foundation for all activities, says Rynning-Tønnesen.

Statkraft wants to contribute to a good industrial development of its partly owned regional Norwegian companies. In order to facilitate BKK to use its own shares in acquisitions, Statkraft has sold
1.7 per cent of the shares in BKK. Statkraft has also agreed to sell its shareholding of 49 per cent in Istad to Tussa Kraft, subject to receiving the necessary concessions.

For further information, please contact:

Debt Capital Markets:
Funding manager Stephan Skaane, tel: +47 905 13 652, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
Senior Financial Advisor Arild Ratikainen, tel: +47 971 74 132, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Media:
Press spokesperson Lars Magnus Günther, tel: +47 912 41 636, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

or www.statkraft.com

Statkraft is a leading company in hydropower internationally and Europe's largest generator of renewable energy. The Group produces hydropower, wind power, solar power, gas-fired power and supplies district heating. Statkraft is a global company in energy market operations. Statkraft has 3500 employees in 16 countries.


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

Read more: Statkraft AS: Result for the second quarter 2018

Abstract

The aim of this report and toolkit is to provide analysis of and options for the tax treatment of OITs. To these ends, it addresses several questions: (i) What considerations arise in deciding whether or not such transfers should be taxed in the country... See More + The aim of this report and toolkit is to provide analysis of and options for the tax treatment of OITs. To these ends, it addresses several questions: (i) What considerations arise in deciding whether or not such transfers should be taxed in the country in which the underlying asset is located? (ii) To which types of assets do these considerations suggest that any such taxation should apply? (iii) How can such taxation, if adopted, best be designed and implemented as a practical, legal matter? This report and toolkit does not purport to provide binding rules or authoritative provisions of any kind nor does it aim to establish an international policy standard of any kind. Rather, it is intended to describe an international taxation issue of particular concern to developing countries, and to provide practicable guidance to them on options for how to address that issue, should they choose to do so. As such, the report represents the analysis and conclusions of the tax staffs of the four partner organizations, and does not represent the official views of the organizations’ member countries or Management.  See Less -

Document also available in : French, English

Read more: The taxation of offshore indirect...

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| Source: Savosolar Plc

multilang-release

Savosolar Plc
Company Announcement                  13 July 2018 at 3:00 p.m. (CEST)

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN PART, DIRECTLY OR INDIRECTLY, IN THE USA, AUSTRALIA, CANADA, HONG KONG, JAPAN, NEW ZEALAND, SINGAPORE OR SOUTH AFRICA OR ANY OTHER JURSIDICTION WHERE SUCH PUBLICATION OR DISTRIBUTION IS UNLAWFUL.

Savosolar's rights issue oversubscribed and resolved to execute a directed issue

Savosolar Plc ("Savosolar" or the "Company") has carried out a rights issue of approximately EUR 3.5 million (the "Offering"), which was oversubscribed, and has decided on a directed share issue of approximately EUR 0.9 million as well as resolved to amend the terms and conditions of the Company's stock option plan 2-2017.

  • Savosolar's rights issue of approximately EUR 3.5 million has been subscribed to 126 %.
  • 77 % of the Offering will be allocated to subscribers who have subscribed for shares with the subscription rights and 23 % to those who have subscribed for the shares without the subscription rights.
  • The Board of Directors of Savosolar has decided on a directed issue of approximately EUR 0.9 million. 

The Board of Directors of Savosolar resolved on 13 July 2018 to approve the subscriptions received in the Offering, as well as the allocation of offered shares and warrants. For offer shares subscribed for in the Offering without subscription rights and for the related additional warrants, the acceptance is conditional to payment of the subscriptions of offer shares on 17 July 2018 at the latest. Allocation has been made in accordance with the principles described in the prospectus. Investors with the subscription rights were allocated 77 % and investors without the subscription rights 23 % of the offered shares. The number of shares in Savosolar will increase by 174,332,080 shares.

In connection to the resolving on approval of the subscriptions received in the Offering, the Board of Directors decided on a directed share issue. The directed share issue will increase the number of shares in Savosolar by 43,583,020 shares.

After the Offering and the directed share issue the total number of shares will amount to 348,664,162. The number of warrants subscribed for in the Offering and the directed issue amounts to 108,957,539.

Subscribers who did not receive all of the offer shares subscribed for without the subscription rights will be repaid the subscription price for the offer shares not received to the bank account informed by the subscriber in connection with the subscription approximately on 18 July 2018. No interest will accrue for the repayable funds.

Savosolar will in total receive approximately EUR 4.4 million in issue proceeds (before transaction costs associated with the Offering and the directed issue).

The shares subscribed for in the Offering and the directed issue are expected to be registered with the Finnish Trade Register approximately on 23 July 2018. Combination of the temporary shares with the Company's existing shares is expected to take place and trading in the new shares subscribed for in the Offering and directed issue is expected to commence approximately on 24 July 2018 on First North Finland and on 27 July 2018 on First North Sweden.

Due to the Offering the Board of Directors of the Company also decided to amend the terms of the Company's stock option plan 2-2017 in accordance with their terms and conditions. The new subscription price per share for stock option plan 2-2017 is EUR 0.03, and each stock option gives the right to subscribe for two shares.

Advisers

Augment Partners AB is acting as financial advisor to the Company in the Offering. Smartius Oy is acting as the legal adviser to the Company on aspects of the Offering related to the Finnish law.

SAVOSOLAR PLC

For more information:

Savosolar 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 Savosolar Plc is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication by aforementioned contact person on 13 July 2018 at 3:00 p.m. (CEST).


Savosolar in brief

Savosolar 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, Savosolar helps its customers to produce competitive clean energy. Savosolar'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 - market segments with a big potential for rapid growth. The company primarily delivers complete systems from design to installation, using the best local partners. Savosolar 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 18 countries on four continents. Savosolar'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.

IMPORTANT NOTICE

This release or the information contained therein shall not be distributed, directly or indirectly, in Australia, Canada, Hong Kong, Japan, New Zealand, Singapore, South Africa or the United States. The information contained in this release do not constitute an offer of, or invitation to purchase any securities in any area, where offering, procurement of or selling such securities would be unlawful prior to registration or exemption from registration or any other approval required by the securities regulation in such area. This release is not an offer for sale of securities in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended, and the rules and regulations issued by virtue of it. Savosolar has not registered, and does not intend to register, any offering of securities in the United States. No actions have been taken to register the shares or the offering anywhere else than in Finland and Sweden.

The information contained herein shall not constitute an offer of, or invitation to purchase any securities in any jurisdiction. This release is not a prospectus and does not constitute any offer, invitation or investment advice to subscribe for or purchase securities. Investors should not subscribe for or purchase any securities or make any investment decisions referred to herein except on the basis of information contained in a prospectus issued by Savosolar.

Read more: Savosolar's rights issue oversubscribed and...

Abstract

Water, energy, and agriculture have been conventionally dealt with separately in investment planning. For each of these sectors, regulatory frameworks, organizations, and infrastructures have been put in place to address sector-specific challenges and... See More + Water, energy, and agriculture have been conventionally dealt with separately in investment planning. For each of these sectors, regulatory frameworks, organizations, and infrastructures have been put in place to address sector-specific challenges and demands. As the Middle East and North Africa works towards building a more sustainable future, a nexus approach that considers the risks and synergies among these sectors is needed. To demonstrate the added value of a nexus approach, this report applies scenario analysis and integrated assessment modelling of the water-energy-food nexus to the Middle East and North Africa. The analysis finds that water scarcity increases in all countries in the region over the coming decades, mostly due to growing demands. More importantly, the analysis finds that many countries in the region could run out of fossil groundwater by 2050 unless measures to curb unsustainable abstraction are implemented. The impacts of growing scarcity on agriculture are significant, with production projected to drop by 60 percent by 2050 in some countries. On the upside, reducing the dependence of the agricultural and energy sectors on water and transitioning to renewable energies can reduce water scarcity, at the same time reducing greenhouse gas emissions.  See Less -

Read more: Water for food and energy security...

Abstract

The aim of this report and toolkit is to provide analysis of and options for the tax treatment of OITs. To these ends, it addresses several questions: (i) What considerations arise in deciding whether or not such transfers should be taxed in the country... See More + The aim of this report and toolkit is to provide analysis of and options for the tax treatment of OITs. To these ends, it addresses several questions: (i) What considerations arise in deciding whether or not such transfers should be taxed in the country in which the underlying asset is located? (ii) To which types of assets do these considerations suggest that any such taxation should apply? (iii) How can such taxation, if adopted, best be designed and implemented as a practical, legal matter? This report and toolkit does not purport to provide binding rules or authoritative provisions of any kind nor does it aim to establish an international policy standard of any kind. Rather, it is intended to describe an international taxation issue of particular concern to developing countries, and to provide practicable guidance to them on options for how to address that issue, should they choose to do so. As such, the report represents the analysis and conclusions of the tax staffs of the four partner organizations, and does not represent the official views of the organizations’ member countries or Management.  See Less -

Document also available in : Spanish, English

Read more: The taxation of offshore indirect...

Abstract

The power sector reform experiences of developing countries vary greatly. To help explain this from a political economy perspective, this paper reviews several dozen statistical analyses, multi-country case studies, and development practice publications... See More + The power sector reform experiences of developing countries vary greatly. To help explain this from a political economy perspective, this paper reviews several dozen statistical analyses, multi-country case studies, and development practice publications. The frame of reference is the model of market-oriented reforms that became a global norm in the 1990s. Findings are organized in terms of the history, theory, motives, processes and outcomes of reforms. Market orientation emerged around the 1980s as part of a shift in economic theory and policy away from state control, and was expected to improve efficiency and investments. Reform advocates never took political economy issues into full consideration. Yet, policy makers have had sociopolitical as well as technical motives for reform, such as crisis response. International norms and competition for foreign investment and trade pulled governments to model reforms, while development partners pushed them as a condition of aid. Reform implementation has been characterized by strong tensions among different public and private interests. Concretely, 1990s model reforms were based on a logic of depoliticizing pricing and investment decisions; often placing policy makers in a conflict of interest situation. Thus, the political costs and risks of reform have often exceeded the benefits perceived by local decision makers, especially as reforms did not generally result in immediate benefits for citizens. In practice, incremental, inclusive processes may be better than quick and stealthy reforms that sidestep stakeholders' concerns. While there was limited evidence of efficacy at the time the reforms were implemented, ex post the outcomes of reforms are ambiguous, as improvements in some areas have been offset by negative results elsewhere. For increasing access to electricity and clean energy, 1990s model reforms may help, but they are neither necessary nor sufficient, nor did they focus on these objectives. In conclusion, the success or failure of policy prescriptions such as 1990s model reforms are contingent on dynamic, context-specific institutions as well as factors beyond the sector. More work is needed on integrated, flexible approaches to think and work politically in the sector, and to account for new technology and diverse sector development objectives.  See Less -

Read more: Taking stock of the political...

Abstract

Water, energy, and agriculture have been conventionally dealt with separately in investment planning. For each of these sectors, regulatory frameworks, organizations, and infrastructures have been put in place to address sector-specific challenges and... See More + Water, energy, and agriculture have been conventionally dealt with separately in investment planning. For each of these sectors, regulatory frameworks, organizations, and infrastructures have been put in place to address sector-specific challenges and demands. As the Middle East and North Africa works towards building a more sustainable future, a nexus approach that considers the risks and synergies among these sectors is needed. To demonstrate the added value of a nexus approach, this report applies scenario analysis and integrated assessment modelling of the water-energy-food nexus to the Middle East and North Africa. The analysis finds that water scarcity increases in all countries in the region over the coming decades, mostly due to growing demands. More importantly, the analysis finds that many countries in the region could run out of fossil groundwater by 2050 unless measures to curb unsustainable abstraction are implemented. The impacts of growing scarcity on agriculture are significant, with production projected to drop by 60 percent by 2050 in some countries. On the upside, reducing the dependence of the agricultural and energy sectors on water and transitioning to renewable energies can reduce water scarcity, at the same time reducing greenhouse gas emissions.  See Less -

Read more: Water for Food and Energy Security...

Print
| Source: RGS Energy

DENVER, July 16, 2018 (GLOBE NEWSWIRE) -- RGS Energy (NASDAQ:RGSE), the exclusive worldwide manufacturer of the POWERHOUSE™ solar shingle system, since June 28, 2018, has received $9.8 million in cash from its April 2018 convertible note offering.

“We believe we now have all the cash needed to successfully launch POWERHOUSE™ as planned,” said Alan Fine, RGS Energy’s CFO. “Additionally, we expect future cash proceeds of over $4 million from the convertible note offering. There is also the potential to receive up to $20 million from the exercise of common stock warrants.”

Solar Division Growth

($000’s omitted) 2nd Quarter 2018
(preliminary)
1st Quarter 2018
(actual)
Net sales $4,757 $3,629
Ending Backlog 15,353 13,887
Revenue 3,560 2,822
Operating loss 1,083 2,468

“We proved our belief we would grow sales and revenue productively with our April realignment of our solar division,” said Justin Chinn RGS Energy’s Director of Sales. “We increased key metrics, including sales, backlog and revenue with a 60% smaller sales organization.”

POWERHOUSE™ Written Reservations Exceed $50 Million

The company has received written reservations in excess of $50 million in potential annual revenue. The company anticipates the revenue from an average POWERHOUSE™ kit sold to a roofer including shingles, inverter, monitoring, non-electrical balance of system components and freight charges to be $18,600.

“Roofers are enthusiastically signing-up for POWERHOUSE™, as it is a product that will distinguish them from their competition and help grow their business,” said Kimberly Farnham, RGS Energy’s Customer Success Manager. “We have written reservations from more than 30 roofers in 14 states. We believe home builders will begin ordering POWERHOUSE™ for their new communities following UL certification, which we anticipate receiving in September.”

Updated RGS Financial Model

Fine added: “We updated our financial model for the POWERHOUSE™ gross margin percentage and operating expenses from our June 7, 2018 financial model for the terms we have negotiated for our POWERHOUSE™ supply chain and anticipated staffing plans. We believe the POWERHOUSE™ written reservations already received will place our overall company results above break-even. We also updated the hypothetical future EPS to reflect the current share information for the convertible note offering.”

The following compares the company’s new future hypothetical EPS to its previously reported hypothetical EPS by penetration of the addressable market:

  One Quarter of
One Percent
One Half of
One Percent
One Percent
Future Hypothetical EPS $0.43 $1.03 $2.36
Hypothetical EPS Reported on June 7, 2018 $0.46 $1.07 $2.30
  Reservations
through
July 14, 2018
One Quarter of
One Percent
One Half of
One Percent
One Percent
POWERHOUSE™ annual revenue $50,852,000 $250,000,000 $500,000,000 $1,000,000,000
Anticipated gross profit percentage   27%   31%   34%   37%
POWERHOUSE™ gross profit   13,952,264   77,500,000   170,000,000   370,000,000
Anticipated POWERHOUSE™ Division expenses   (2,645,042)   (6,750,000)   (12,000,000)   (22,000,000)
POWERHOUSE™ license fee   (1,406,933)   (5,829,000)   (11,405,000)   (22,644,000)
Contribution from Solar Division   0   0   0   0
Corporate segment expenses   (7,200,000)   (7,200,000)   (7,200,000)   (7,200,000)
Pre-tax income   2,700,289   57,721,000   139,395,000   318,156,000
Taxes @ 25%   (675,072)   (14,430,250)   (34,848,750)   (79,539,000)
Hypothetical net income   $2,025,217   $43,290,750   $104,546,250   $238,617,000
         
Hypothetical Fully Diluted Shares Outstanding:        
Shares outstanding as of July 13, 2018   34,900,000   34,900,000   34,900,000   34,900,000
Convertible Note   55,100,000   55,100,000   55,100,000   55,100,000
Common stock warrants   10,000,000   10,000,000   10,000,000   10,000,000
Employee stock options   1,300,000   1,300,000   1,300,000   1,300,000
Fully diluted shares outstanding   101,300,000   101,300,000   101,300,000   101,300,000
         
Hypothetical EPS   $0.02   $0.43    $1.03    $2.36 
         
Hypothetical Cash from exercise of common stock warrants   $19,982,920

The financial model above is not a forecast or a projection but a mathematical demonstration of financial information arising from written reservations received to-date and different future hypothetical levels of market penetration of the annual reroof market and reflects the following:

  • Gross margins include the cost of the Section 201 and 301 tariffs on imported materials.
     
  • The hypothetical maximum cash from exercise of common stock warrants is the mathematical result of the number of warrant shares times the respective exercise price per share. The hypothetical results are premised upon an increase in the future trading value of the company’s common stock resulting in the exercise of common stock warrants. It further assumes all investors elect cash exercises (not cashless exercises) and warrant exercise prices are not reduced or reset to a lower amount. The majority of common stock warrants have exercise prices at or below $3.10 per share.

Management Commentary
  
“We feel very good about our progress towards the launch of our POWERHOUSE™ integrated solar shingles using technology developed by The Dow Chemical Company,” said Dennis Lacey, CEO of RGS Energy. “We have raised what we believe is the necessary financial capital to commercially launch POWERHOUSE™ and based upon cementing our supply chain and receiving written reservations, we believe our financial model presents a very attractive opportunity for our shareholders. We believe we already have written reservations for future annual revenue for us to operate at a profit. Looking ahead, we see strong growth and expect profits in 2019.”

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 is the exclusive manufacturer of POWERHOUSE™, an innovative in-roof solar shingle using technology developed by The Dow Chemical Company. RGS Energy also sells, designs and installs traditional retrofit solar systems for residential homeowners, commercial businesses, non-profit organizations and government entities. 

For more information, visit RGSEnergy.com and RGSPOWERHOUSE.com, on Facebook at www.facebook.com/RGSEnergy and on Twitter at twitter.com/rgsenergy. Information on such websites and the websites 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 quarter ended June 30, 2018 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” 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 actual results for the second quarter of 2018; 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; RGS Energy’s current capital resources being sufficient to implement its revenue growth strategy; RGS Energy’s ability to successfully and timely commercialize POWERHOUSE™ 3.0; the ability to obtain requisite certification of POWERHOUSE™ 3.0; demand for 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 realize revenue from written reservations for initial POWERHOUSE™ deliveries; RGS Energy’s ability to obtain future written reservations for POWERHOUSE™ deliveries; and future cancellations and backlog.

You should read the section entitled “Risk Factors” in our 2017 Annual Report on Form 10-K, which has been filed with the Securities and Exchange Commission, which identify certain of these and additional risks and uncertainties. Any forward-looking statements or forward-looking hypothetical examples made by us in this press release speaks 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 or forward-looking hypothetical example, 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
This email address is being protected from spambots. You need JavaScript enabled to view it.

Read more: RGS Energy Receives $9.8 Million of Cash since...

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| Source: JA Solar Holdings Co., Ltd.

BEIJING, July 17, 2018 (GLOBE NEWSWIRE) -- JA Solar Holdings Co., Ltd. (NASDAQ:JASO) ("JA Solar" or the "Company"), one of the world’s largest manufacturers of high-performance solar power products, today announced the completion of its merger (the "merger") with JASO Acquisition Limited ("Merger Sub"), a wholly-owned subsidiary of JASO Parent Limited ("Parent"), a wholly-owned subsidiary of JASO Holdings Limited ("Holdco"), pursuant to the agreement and plan of merger (the "merger agreement") dated November 17, 2017 by and among Holdco, Parent, Merger Sub and the Company. As a result of the merger, the Company ceased to be a publicly traded company and became a wholly-owned subsidiary of Parent.

Under the terms of the merger agreement, each of the Company's ordinary shares (each a "Share" and collectively, the "Shares") issued and outstanding immediately prior to the effective time of the merger, has been cancelled in exchange for the right to receive $1.51 in cash per Share without interest, and each of the Company's American depositary shares, each representing 5 Shares (each an "ADS" and collectively, the "ADSs") issued and outstanding immediately prior to the effective time of the merger, has been cancelled in exchange for the right to receive US$7.55 in cash per ADS without interest, other than (a) certain Shares (including Shares represented by ADSs) owned by Jinglong Group Co., Ltd. (“Jinglong”), Chin Tien HUANG, Chi Fung WONG and Pak Wai WONG, which will be rolled over in the transaction, cancelled and cease to exist without any conversion thereof or consideration paid therefor, and (b) Shares held by shareholders who have validly exercised and not effectively withdrawn or lost their rights to dissent from the merger pursuant to Section 238 of the Companies Law of the Cayman Islands (the “Dissenting Shares”, the corresponding shareholders, "Dissenting Shareholders"), which will be cancelled and cease to exist in exchange for the right to receive the payment of fair value of the Dissenting Shares in accordance with Section 238 of the Companies Law of the Cayman Islands. However, if a Dissenting Shareholder does not serve such notice of dissent, such Dissenting Shareholder is entitled to receive the Per Share Merger Consideration.

Each registered shareholder as of the effective time of the merger who is entitled to the merger consideration will receive a letter of transmittal and instructions from the paying agent on how to surrender their share certificates (or affidavits and indemnities of loss in lieu of the share certificates) or non-certificated shares represented by book entry in exchange for the merger consideration. Registered shareholders should wait to receive the letters of transmittal before surrendering their share certificates. Each Dissenting Shareholders as of the effective time of the merger will receive a letter of transmittal and instruction at relevant time promptly after such shareholder has effectively withdrawn or lost his, her, or its appraisal rights under the Companies Law of the Cayman Islands. Each registered shareholder will receive in exchange of the shares or ADSs surrendered a check in an amount equal to the merger consideration to which such holder is entitled. Merger consideration is not payable to untraceable shareholders unless such shareholders properly notify the paying agent or the depositary of their current contact details prior to the effective time.

The Company also announced today that it has requested that trading of its ADSs on The Nasdaq Stock Market (the "NASDAQ") be suspended as of July 17, 2018 (New York time). The Company requested NASDAQ to file a notification on Form 25 with the Securities and Exchange Commission (the "SEC") to delist the Company's ADSs on the NASDAQ and deregister the Company's registered securities. The deregistration will become effective in 90 days after the filing of Form 25 or such shorter period as may be determined by the SEC. The Company intends to suspend its reporting obligations under the Securities Exchange Act of 1934, as amended, by filing a Form 15 with the SEC. The Company's obligations to file with the SEC certain reports and forms, including Form 20-F and Form 6-K, will be suspended immediately as of the filing date of the Form 15 and will terminate once the deregistration becomes effective.

In connection with the merger, Houlihan Lokey is serving as the financial advisor to the special committee of the board of directors of the Company (the "Special Committee"). Gibson, Dunn & Crutcher LLP is serving as the U.S. legal counsel to the Special Committee.

Skadden, Arps, Slate, Meagher & Flom LLP is serving as U.S. legal counsel to the investor consortium.

In connection with the loan facility with which the investor consortium funded the merger, CSI Finance Limited and Credit Suisse AG, Singapore Branch are acting as mandated lead arrangers and underwriters for the Buyer Group’s loan facility. Allen & Overy is serving as legal counsel to the mandated lead arrangers and underwriters.

About JA Solar Holdings Co., Ltd.
JA Solar Holdings Co., Ltd. is a leading manufacturer of high-performance solar power products that convert sunlight into electricity for residential, commercial, and utility-scale power generation. The Company is one of the world’s largest producers of solar power products. Its standard and high-efficiency product offerings are among the most powerful and cost-effective in the industry. The Company distributes products under its own brand and also produces on behalf of its clients. The Company shipped 7.6 GW of solar power products in 2017. JA Solar is headquartered in Beijing, China, and maintains production facilities in Shanghai, Hebei, Jiangsu, Inner Mongolia and Anhui provinces in China, as well as Penang, Malaysia and Bac Giang, Vietnam.

Safe Harbor and Informational Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "if," "will," "expected," and similar statements. Forward-looking statements involve inherent risks, uncertainties and assumptions. Further information regarding these and other risks is included in the Company's filings with the SEC. These forward-looking statements reflect the Company's expectations as of the date of this press release. You should not rely upon these forward-looking statements as predictions of future events. The Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

For more information, please visit www.jasolar.com.

Contact:
The Blueshirt Group
Ralph Fong
Phone: +1 (415) 489-2195
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

JA Solar Holdings Co., Ltd.

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