Sunnova Energy Secures US$300 Million in Funding for Expansion

Sunnova Energy Corp. has secured US$300 million in committed debt and equity funding that the company will use to expand in the residential solar energy service market.

The transactions include a conduit facility arranged by Credit Suisse, and an equity financing round led by Triangle Peak Partners. Additional equity investors include business development companies sponsored by Franklin Square Capital Partners, which are sub-advised by GSO Capital Partners, the global credit investment platform of Blackstone.

Sunnova previously held the record for the largest-ever round of funding raised by a private residential solar service company in the United States when it closed a US$250 million financing round in November 2014. The latest deal brings Sunnova’s total fundraising to almost US$900 million.

“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. (John) Berger. “We are eager to leverage the experience and resources that these energy leaders bring to the table.”

Sunnova offers rooftop solar service to homeowners within and outside the United States through a network of local sales and installation partners.

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