Sunnova Closes Largest Ever Round of Financing by a Private Residential Solar Service Co.

Sunnova

Sunnova Energy Corp. , one of the nation’s leading residential solar service companies, announced today it has secured an additional $250 million in committed funding. Sunnova will use these funds to continue its rapid growth and to provide reliable, low-cost solar energy to more customers across the U.S. This funding round was led by business development companies sponsored by Franklin Square Capital Partners, which are sub-advised by GSO Capital Partners LP, and also includes Triangle Peak Partners, LP,  Barclays  acted as sole placement agent to Sunnova on the transaction.

The $250 million is the largest-ever round of funding raised by a private residential solar service company in the U.S. and brings Sunnova’s total funding to approximately half a billion dollars, establishing the company as a market leader in solar power service.

“The demand for affordable energy is substantial,” said Sunnova Chief Executive Officer William J. (John) Berger. “The rapid growth Sunnova is experiencing in the markets we serve is propelled by our dedication to provide high-quality resources in support of our market leadership and customer service.”

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This post was prepared by Solar Thermal Magazine staff.