Spruce Power Holding Corporation, a US-based solar energy asset operator, has released its Q4 2023 financials, showing a decrease in revenue compared to the previous year. FY 2023 revenue saw a substantial rise, attributed to the acquisition of 25,000 new customer contracts, signaling a growth of 50%. The company expanded into the commercial solar market with the introduction of ‘Spruce Pro.’ By the end of 2023, Spruce managed over 75,000 home solar assets and contracts, spread across 18 states, generating around 417,000 MWh of power annually and servicing 5,000 third-party-owned systems and loans. For 2024, Spruce anticipates an Operating EBITDA range of USD 68–86 million and Adjusted Free Cash Flow of USD 0-5 million.
Spruce Power reports Q4 & FY 2023 financial results
