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Sunnova Energy Closes $300 Million Financing

Originally published on Solar Love

Sunnova Energy has announced that it has secured $300 million in financing for the continued growth of its US-based business.

The solar company, which specializes in providing solar leases and loans, announced on Thursday that it had secured approximately $300 million in committed debt and equity funding that it hopes to use to solidify its “position in the residential solar energy service market.”

The transaction included a conduit facility arranged by Credit Suisse, and an equity financing round led by Triangle Peak Partners, LP.

Sunnova is also proud of the fact that this new round of financing beats its previous record largest-ever round of financing by a private residential solar service company in the US of $250 million, closed in November, 2014. This new round of financing brings Sunnova’s total fundraising to almost $900 million, and cements its position as one of the leading residential solar power service companies.

“We are pleased to partner with these world-class energy investors to continue Sunnova’s momentum and fund our growth in the global power industry,” said Sunnova Chief Executive Officer William J. Berger. “We are eager to leverage the experience and resources that these energy leaders bring to the table.”

 
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