Brief: Spruce Power Buys Portfolio Of 22,500 Solar Customer Contracts

Spruce Power Holding

23/03/2023 20:04

March 23 (Reuters) - Spruce Power Holding Corp  SPRU.N :
    * SPRUCE POWER BUYS PORTFOLIO OF 22,500 SOLAR CUSTOMER
CONTRACTS
IN ITS LARGEST-EVER ACQUISITION AND FIRST AS A PUBLIC COMPANY
    * SPRUCE POWER HOLDING CORP - PORTFOLIO EXPECTED TO GENERATE
OVER
$21 MILLION OF ANNUAL CUSTOMER BILLINGS AND ABOUT $18 MILLION
PORTFOLIO EBITDA
    * SPRUCE POWER HOLDING CORP - EXPECT THIS PORTFOLIO WILL
MAKE A
LARGE, POSITIVE AND IMMEDIATE IMPACT ON OUR FINANCIAL AND
STRATEGIC OUTLOOK
    * SPRUCE POWER HOLDING CORP - IN RELATION WITH DEAL ALONG
WITH $35
MILLION WE PAID, WE ASSUMED $125 MILLION OF NON-RECOURSE PROJECT
DEBT

Source text for Eikon:  ID:nBw5Kgj5Ha 
Further company coverage:  SPRU.N 

 ((Reuters.Briefs@thomsonreuters.com;))