Sunnova secures $175 Million financing round from Goldman Sachs

Sunnova Energy Corporation, a Houston-based solar energy company, has secured a US$175 million warehouse credit facility from Goldman Sachs. The funds will help support Sunnova’s continued growth in the residential solar market.

The US$175 million warehouse facility from Goldman Sachs follows the securing of a US$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.

Sunnova offers rooftop solar service to homeowners in the United States and its territories through its network of local sales and installation partners. Their focus is to change the energy industry by providing the choice of low-cost, worry-free solar power.

Sunnova CEO John Berger, said:

“Our focus on profitability, cash flow and measured, sustainable growth sets us apart in the solar industry. 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,”

The $175 million debt financing marks the first transaction between Sunnova and Goldman Sachs.