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Spruce Power Announces New Partnership to Monetize Solar Renewable Energy Credits (SRECs) in California

1. Spruce Power signed a partnership with Hot Purple Energy to monetize SRECs in California. 2. The initiative aims to leverage Spruce's expertise for realizing SREC benefits.

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FAQ

Why Bullish?

This partnership may enhance SPRU's revenue through SREC sales, similar to past successful initiatives in the renewable sector.

How important is it?

The partnership significantly aligns with Spruce's operational strategy, potentially increasing market competitiveness.

Why Long Term?

SREC monetization can lead to sustained revenue growth, as seen in similar long-term renewable projects.

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ENPHSEDGNEE
DENVER--(BUSINESS WIRE)--Spruce Power Holding Corporation (NYSE: SPRU) (“Spruce” or the “Company”) today announced the signing of a new Spruce Pro servicing partnership with commercial & industrial (“C&I”) and residential solar installer Hot Purple Energy (“Hot Purple”) to monetize Solar Renewable Energy Credits (“SREC”) in California. This partnership is part of a broader Spruce initiative to leverage the Company's platform and experience to capture the unrealized benefit of SREC credi.

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