New Jersey Resources Boosts Finances with Solar Sale

New Jersey Resources ( (NJR) ) has shared an announcement.

New Jersey Resources Corporation has successfully sold its residential solar portfolio for $132.5 million to Spruce Power Holding’s affiliate, marking a strategic move to reduce debt and enhance working capital. The company’s fiscal 2024 results highlight a solid performance with net income rising to $289.8 million, up from $264.7 million in 2023, and net financial earnings reaching $290.8 million. The company exceeded its earnings guidance, showcasing robust growth across all segments and setting a promising outlook for fiscal 2025 with increased dividend projections.

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