Spruce Arranges $120 Million Financing for Rooftop Solar
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Spruce Finance Inc., a solar-financing company backed by Kleiner Perkins Caufield & Byers LLC, arranged $120 million in debt for rooftop solar systems in the U.S. The deal closed Friday.
The company’s first syndicated loan was led by Investec Plc, and San Francisco-based Spruce plans to use the money to meet growing consumer demand for financing for solar power, according to Chief Executive Officer Nat Kreamer.