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Sunnova Closes $615 Million Financing Round

Categories: Solar Power

Several solar energy companies have been facing a recent decline, while others have been thriving. Sunnova was able to use its portfolio to secure a round of funding for the company of $615 million. This is split between two ware credit facilities and a record-breaking private placement by its subsidiary, Helios Issuer LLC of about $255 million. This financing round represents Sunnova’s first asset-backed notes securitization. Credit Suisse was the sole book runner and structuring agent of this. What this means? More investors are showing their interest in Sunnova and the progression of their company. Sunnova has raised over $2 Billion in tax equity, debt, and corporate equity funding. Sunnova will have more expense towards the expansion of their company as well their partnering companies; a positive win for solar energy.

Sunnova was founded in 2012 by a team of entrepreneurs including CEO William J. Burger, CFO Jordan Kozar, and CMO Jordan Fruge. The team brought combined knowledge and experience to the company, building Sunnova into one of the leading residential solar providers in the United States. Sunnova takes the complication out of most solar power companies that are outsourcing their installation and maintenance teams. Instead, Sunnova works with a specific group of regional partners that are in touch with their local markets. With this, there are select people to work with each area to maneuver solar panel installations to avoid conflict with scheduling or climate. This includes CODE Green Solar, where together the companies withhold a strong partnership, tied together with their promise to: to provide low-cost, worry-free, solar power.

Emily R. Antrilli
Copywriter | Code Green Solar
a. 523 Hollywood Ave, Cherry Hill NJ 08002
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