Spruce Power Holding ( (SPRU) ) just unveiled an announcement.
Invest with Confidence:
- Follow TipRanks' Top Wall Street Analysts to uncover their success rate and average return.
- Join thousands of data-driven investors – Build your Smart Portfolio for personalized insights.
Spruce Power has significantly expanded its solar portfolio by acquiring around 9,800 residential solar systems from NJR Clean Energy Ventures for $132.5 million. This acquisition, supported by a new debt facility, bolsters Spruce’s presence in New Jersey and is expected to boost operational efficiency and cash flow. With this move, Spruce aims to enhance customer experience and shareholder value, further cementing its position as a top residential solar provider in the region.
Learn more about SPRU stock on TipRanks’ Stock Analysis page.
