RGS Energy: $5 million credit line, $3.15 million of loans extended through March 2016

By Lisa Kerner

Charlotte, N.C., March 17 – RGS Energy announced it renewed its line of credit and investor loans.

The latest amendment to the company’s credit facility with Silicon Valley Bank provides RGS Energy with a $5 million revolving line of credit through March 15, 2016, according to a news release.

RGS renewed its loans with Riverside Fund III, L.P, an affiliate of RGS Energy's largest shareholder, Riverside Renewable Energy Investment. Amendments extend $3.15 million in loans through March 31, 2016.

“The extension of our line of credit and investor loans, coupled with our recently completed public offering, significantly strengthen our financial position,” chief executive officer Dennis Lacey said in the release. “This will allow us to focus on completing our restructuring and executing on our 2015 business plan to improve the efficiency and profitability of our business.”

Formerly Real Goods Solar Co., RGS Energy is a solar power and solar electric panel installation company based in Louisville, Colo.

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