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Sunnova secures financing

Sunnova Energy Corporation, a US-based residential solar service provider, announced today it has raised aggregate capital of nearly $1 billion in the past three months after closing a $140 million round of debt funding with CIT Group and other investors this past week.

Prior to securing this latest $140 million debt funding from CIT and others, Sunnova secured an $80 million tax equity deal on March 14, a $255 million private securitization offering and a $360 million warehouse credit facility deal on April 24 and an $80 million private notes offering on April 25. To date, Sunnova has raised more than $2 billion since 2012.

The funds raised will support Sunnova’s growth and compelling free-market vision to continue offering homeowners more affordable energy options. Sunnova’s recent progress includes:

  • Launching PowerStack, Sunnova’s new affordable solar+storage residential service
  • Expanding its solar ownership finance product to additional states
  • Offering more solar options in additional markets such as Texas

Labels: Sunnova,financing,residential solar,solar installation

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