Sunnova Energy Corporation today announced it secured approximately $300 million in committed debt and equity funding. The transactions include a conduit facility arranged by Credit Suisse, and an equity financing round led by Triangle Peak Partners, LP. Additional equity investors include business development companies sponsored by Franklin Square Capital Partners LP.
"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."
With this funding round, Sunnova continues its successful growth in the power industry and takes another step toward being a profitable power company in the global marketplace. Sunnova will utilize the funding to give more homeowners access to low-cost power and create more job opportunities for local partner firms and contractors nationwide.
"The residential solar service industry has seen impressive growth in recent years. Sunnova's innovative business model leverages local channel partners to accelerate the broad adoption of rooftop solar," said Mike Morgan from Triangle Peak Partners, LP. "Sunnova is building a next-generation power company that will increasingly compete with conventional energy and traditional, centralized electric utilities. We are excited to help Sunnova accomplish great things."