Real Goods completes Alteris merger

LOUISVILLE – Solar panel installation firms Real Goods Solar Inc. and Alteris Renewables Inc. have completed a merger announced in June.

The merger brings together two pioneers in solar installation, each with more than 30 years of experience.

Real Goods Solar Inc. (Nasdaq: RSOL) issued 8.7 million shares of Class A common stock to equity holders in Alteris, which is based in Wilton, Connecticut.

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Both companies are operating on a single financial system and plan to centralize operations at Read Goods Solar’s corporate headquarters in Louisville. Real Goods has 30 people employed at that location.

Real Goods expects to grow and add new employees, said Erik Zech, the company’s chief financial officer. The new company will have more than a dozen offices covering both coasts with solar panel installation capabilities, according to the statement.

As previously announced during its third quarter earnings call, Real Goods Solar anticipates 2011 calendar year net revenue of approximately $110 million. The company expects to achieve approximately $180 million of net revenue for calendar year 2012, excluding acquisitions, with growth above 40 percent.