Sunnova Secures $175 Million Financing Round from Goldman Sachs
Sunnova has now raised nearly $1.5 billion in capital in three years
HOUSTON, May 2, 2016 —- Sunnova Energy Corporation, a Houston-based solar energy company, today announced it has secured a $175 million warehouse credit facility from Goldman Sachs. The funds will help support Sunnova’s continued growth in the residential solar market.
The $175 million warehouse facility from Goldman Sachs follows the securing of a $300 million equity commitment from Energy Capital Partners in March. The total amount of funding raised by Sunnova in just three years is nearly $1.5 billion.
“Our focus on profitability, cash flow and measured, sustainable growth sets us apart in the solar industry,” said Sunnova CEO John Berger. “We are committed to growing responsibly and our investors and lenders appreciate that.”
“Goldman Sachs’ financing will allow us to continue to execute on our strategy of bringing consumers a cost-effective, clean choice for their electricity,” continued Berger.
The $175 million debt financing marks the first transaction between Sunnova and Goldman Sachs.
Thao Pham, Edelman
Sunnova is a different kind of power company, offering rooftop solar service to homeowners in the United States and its territories through our network of local sales and installation partners. Our mission is to change the energy industry by providing the choice of low-cost, worry-free solar power that generates long-term savings for our customers and continued business growth for partners. For more information, visit sunnova.com, follow @Sunnova_Solar on Twitter, and connect with us on Facebook and LinkedIn.