The Spruce management team has decades of experience in the consumer finance, renewable energy and software industries.
Chairman, President and CEO
Christian Fong has built multiple billion-dollar real asset businesses and brings to Spruce an extensive executive, private equity and policy background in the clean power and energy sectors. Christian also serves on the Boards of Directors at Terraform Power, Inc (NASDAQ: TERP) and Fong Management, LLC (Chairman & CEO).
Prior to joining Spruce, Christian co-founded Renewable Energy Trust Capital (RET) in 2010 and served in various executive roles, including as Chief Investment Officer, COO and CFO. He led RET to acquire and develop over one billion dollars of wind and solar PV power assets, and authored the submission of the landmark IRS private letter ruling request for REIT-eligibility of solar PV assets. He participated in the original work underpinning the creation of the YieldCo industry. Prior to founding RET, Christian was a Managing Director and Head of Real Estate Capital Markets at AEGON / Transamerica. He has also previously served as CEO of Corridor Recovery, Inc, as a consultant at McKinsey & Co, and as a candidate for Governor of Iowa.
Christian holds an MBA with High Distinction from Dartmouth College’s Tuck School of Business, a B.S. in Statistics, summa cum laude, from Creighton University and the prestigious CFA and CCIM designations.
COO, and President of Spruce Servicing, LLC
Jonathan Roumel is Chief Operating Officer of Spruce and President of Spruce Servicing, an independent subsidiary of Spruce. Spruce Servicing is an end-to-end solar servicing and asset management solution provider actively servicing over 70,000 residential solar systems and energy efficiency accounts. Jonathan oversees solar portfolio servicing activities including financial asset management, asset operations & maintenance, homeowner billing & collections, customer support, fund reporting and accounting, and data analytics.
Prior to ESE, Jonathan served as Vice President of Operations for Spruce, managing the servicing of 200 MW of installed solar capacity. Jonathan has also served as Vice President of Operations for NRG Home Solar where he managed a 100+ MW residential solar fleet and supported operations, reporting and customer support activities. Prior to NRG, Jonathan served in multiple roles with BP Alternative Energy including General Manager for BP Solar, and Director of Operations for BP Wind Energy. In addition, Jonathan served as a management consultant with McKinsey & Company where he focused on the electric power and alternative energy sectors addressing topics including risk management, strategy and operations. Jonathan has also served in risk and analytic roles at Reliant Energy, Barclays Capital and Enron.
Jonathan has an MBA from the University of Chicago Booth School of Business and a BS in Commerce from the University of Virginia.
Senior Vice President of Corporate Development
Tim Distler is Senior Vice President of Corporate Development at Spruce Finance, leading the company’s project finance & M&A activity. As an industry veteran, Tim has financed, acquired and/or sold over $5B worth of utility-scale and distributed renewables assets.
Prior to joining Spruce, Tim led a San Francisco-based solar project development and finance business unit for LG Electronics with focus on providing financing, technology and development services to project developers. Within this role, Tim successfully brought LG into the tax equity market, overseeing the successful closing of a market-leading solar plus storage tax equity investment in 2017. Prior to his role at LG, Tim was Vice President, Head of Project Finance at RET Capital, raising over $500 million in tax equity and project debt to support the company’s acquisition and financing activities. Tim has also spent time at PG&E, working for both the regulated utility and unregulated holding company as a member of its corporate development team, playing a key role in the placement of over $400 million in residential & commercial tax equity investments during the nascent stages of the distributed solar market. Tim has additionally held roles at Recurrent Energy & E.ON Climate & Renewables, each with a focus on renewable project finance, M&A and development.
Tim holds a BA in Economics from the University of Iowa and an MBA in International Business from Lindenwood University in St. Louis.
Vice President of Finance and Accounting
Sarah Wells is the Vice President of Finance & Accounting for Spruce Finance. Sarah manages the treasury, accounting operations, financial reporting, audit and tax requirements and regulatory requirements.
Prior to Spruce Finance, Sarah served in multiple roles at NCI Building Systems including Senior Finance Manager and Senior SOX Manager. While in her last role at NCI Building Systems, she managed a $100m manufacturing group and was responsible for CAPEX approval for the first phase of manufacturing automation. In addition, Sarah has served as an auditor with PKF Texas providing assurance services to clients in hospitality, manufacturing, Oil and Gas and service organizations. Sarah currently serves as the Finance Chair for the St. Mary Magdalene Catholic Community.
Sarah has a BS from the University of Louisiana at Lafayette.
Corporate Secretary and General Counsel
Jon Norling is the Corporate Secretary and General Counsel of Spruce, overseeing and managing the legal affairs of Spruce and its subsidiaries, as well as ensuring corporate compliance for each Spruce company. He joined the company as General Counsel in 2017.
Prior to Spruce, Jon served as general and corporate counsel for multiple renewable energy companies, including Renewable Energy Trust Capital (RET), Vestas, and Columbia Energy Partners. At RET, he managed the legal affairs in connection with multiple investment rounds and the acquisition of over one billion dollars of renewable energy assets. Jon has also served as a partner in several law firms, focusing his practice on renewable energy development and project finance.
Jon has a Juris Doctor degree from Lewis & Clark Law School and a B.S. in Environmental Politics from Middlebury College. He is an Adjunct Professor of Law at Lewis & Clark Law School, teaching classes in renewable energy finance, development and climate change.