BayWa, OneRoof agree to separate financing deals

March 31, 2016
Facebook
Twitter
LinkedIn
Reddit
Email
OneRoof's new financial deal closes approximately US$20 million for the company. Image: OneRoof Energy

BayWa r.e.is set to offer a new finance product for its US-based solar distribution customers, in which consumer financing from Spruce Finance will provide contractors and homeowners with a simple and affordable PV loan process.

BayWa r.e’s national dealer database will now have access to Spruce loan products in order to help them expand their businesses and assist consumers when it comes to deciding on their energy choices.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

These Spruce loans allow members of BayWa r.e’s dealer network to build up their cash intake and spur management while also offering intriguing financing to homeowners.

Boaz Soifer, CEO of BayWa r.e. Solar Systems, noted: “Spruce’s loans are a great addition to our finance program. They will allow independent installers to grow with fewer constraints and compete with larger national players.”

In separate financial news, residential solar services provider OneRoof Energy announced on Thursday that it has completed the final tranche of a previously committed financing in the principal amount of US$20 million — consisting of secured convertible notes issuable to Black Coral Capital LLC under the same terms and conditions as the company’s outstanding subordinated convertible notes.

Each note issued under the Convertible Note is convertible into common shares of One Roof Energy at the option of the holder at the conversion price of CDN$0.055 for the first year after the closing and at a conversion price of CDN$0.10 per Common Share for the remainder of the term of the notes issued thereunder.

This financing will be utilised for general working capital purposes, including general and administrative, IT development and investment in solar projects.

Read Next

Premium
November 7, 2025
The increasing technical complexity of the renewable energy space has increased the demands on capital raising for those in the sector.
November 7, 2025
Renewables asset fund Alantra Solar has secured €355 million to support the development and construction of five solar PV projects in Italy.
November 4, 2025
Israel-headquartered IPP Enlight has secured US$150 million in financing to support a solar-plus-storage project in the US.
November 4, 2025
Average renewable energy PPA deal price fell marginally to €46.37/MWh (US$53.36/MWh) in Europe in the last week of October, per Pexapark.
November 3, 2025
US renewables developer EnergyRe has reached financial close on a solar PV portfolio in the US state of South Carolina.
November 3, 2025
IPP ContourGlobal has closed its first renewable energy project financing in the US, as it continues to expand its presence in the country.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
November 12, 2025
10am PST / 1pm EST
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK
Solar Media Events
March 24, 2026
Lisbon, Portugal