Mercury Solar Systems Shareholders Vote in Favor of Real Goods Solar Merger

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Shareholders of Mercury Solar Systems vote in favor of its merger with a subsidiary of Real Goods Solar. Real Goods Solar will hold a special meeting of its stockholders on January 14 to approve the merger. 

 

 

Shareholders of Mercury Solar Systems voted in favor of its merger with a subsidiary of Real Goods Solar (NASDAQ: RSOL). Real Goods Solar will hold a special meeting of its stockholders on January 14 at its office in Louisville, Colorado to approve the merger.

“Our combination with Real Goods Solar will create a powerhouse in the commercial solar space and we are excited to be one step closer to finalizing this transaction,” said Jared Haines, President, Mercury Solar Systems.

“We had a strong fourth quarter building and commissioning solar systems on behalf of our customers and third-party system owners. We continued our 5-year trend of positive operating results and will deliver to Real Goods financial resources including more than $10 million in cash and no debt.… We are excited by our momentum going into the new year,” Jared continued.

Mercury Solar Systems also announced that it has established operations in Puerto Rico and has several projects under development.

According to The Street, Real Goods Solar recently announced a partnership with Green Lantern Capital to build solar projects totaling 4.5MW in Vermont. The projects will begin construction this summer, and are expected to be completed by November 2014. Last week, the company announced a partnership with BlueWave Capital to build solar farms in Massachusetts. As part of this partnership, RGS Energy, the company’s commercial and utility division, will design, install, monitor, and maintain all four new projects. Construction of these solar farms, which will total 3.5MW, is scheduled to start in March, with completion expected in June.