Spruce Finance acquires more than 2,000 residential PV assets
Post date: 13/07/2019 - 19:48
Spruce Finance Inc., private owner and operator of a portfolio of distributed generation solar and residential energy assets in the US, has acquired a portfolio of 2,169 residential solar systems totaling 12.1 MW, which brings the company’s portfolio to 173 MW of primarily residential solar assets. The transaction follows a recent $50 million equity investment from Spruce's owner HPS Investment Partners.
The residential solar assets will be serviced by Spruce's independent subsidiary, Energy Service Experts (ESE), which provides asset management services to more than $1 billion of residential solar assets. Houston-based ESE manages both Spruce's own assets and third-party owned portfolios. HPS Investment Partners has over $48 billion of assets under management.