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
Spruce Power expands its reach with over 75,000 home solar assets and service over 80,000 PV systems. (Image Credit: Spruce Power Holding).
Allegations include bribing Indian officials to secure renewable energy projects worth $6 billion. (Image Credit/Source: Kelly/Pexels)
NTPC prioritizes solar over wind, limiting wind and battery projects to 10% of its renewable portfolio. (Image Credit/Source: Kelly/Pexels)
Scatec retains 13% and 12% stakes in Kalkbult, Linde, and Dreunberg solar plants after the sale to STANLIB. (Image Source: Scatec)
The financing partnership between RIC Energy and Rosemawr will fund interconnection deposits for up to 450 MW of renewable projects in NY. (Image Source: RIC Energy)