Morning Brief: City Electric Supply enters residential solar, Spruce Finance acquires 31 MW residential portfolio

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City Electric Supply enters residential solar: City Electric Supply, which claims to be the eighth-largest electrical wholesale distributor in the U.S., has launched a residential renewables division. The company has worked and had success in the utility and C&I markets, and has so far supplied over 8GW worth of projects nationwide from small residential/light commercial installations to utility-scale solar farms ranging from 2 KW to 300 MW. Source: City Electric Supply

Spruce Finance acquires 31 MW residential portfolio: Spruce Finance has completed its most significant solar portfolio acquisition to date. Spruce’s purchase of 5,864 rooftop solar assets totaling 31.3 MW from Atalaya Capital Management expands Spruce’s solar portfolio to more than 180 MW. Source: Spruce Finance

Mosaic passes $3 billion in funding: Mosaic has passed $3 billion in loans funded since the company’s loan platform was launched. This funding has been used to develop more than 100,000 home solar projects. Mosaic has also promoted Erin Talbot, formerly vice president and general manager of solar, to chief lending officer overseeing both the solar and home improvement business units. Source: Mosaic

Sunfolding is a 2020 global greentech company: “On January 16, 2020, Sunfolding was named a 2020 Global Cleantech 100 company by Cleantech Group. The 2020 Global Cleantech 100 is the 11th edition of the annual guide to the leading companies and themes in sustainable innovation. Cleantech Group selected Sunfolding for the Cleantech 100 from over 8,300 companies nominated from around the world.” Source: Sunfolding

Environmental advocates applaud APS’ carbon-free commitment: Conservation and consumer groups today welcomed Arizona Public Service’s (APS) announcement that will set the utility on a path toward 45 percent renewable energy by 2030 and 100 percent carbon-free electricity by midcentury. “APS’ commitment to 100 percent carbon-free electricity is great news for Arizonans, who overwhelmingly support clean energy,” said Art Terrazas, Interior West Director for Vote Solar. “But corporate commitments must also be enforced, and may not benefit everyone equitably. Now, the Arizona Corporation Commission must adopt a statewide, 100 percent carbon-free standard that ensures all Arizonans can benefit from clean energy.” Source: Vote Solar