Sunnova makes more leadership changes

In an attempt to enhance the struggling company’s financial position, Sunnova appoints an interim CFO and executive VP of operations.

April 1, 2025 Anne Fischer

Image: Sunnova

Sunnova Energy International Inc., a residential solar company, announced the appointment of Robyn Liska as interim chief financial officer (CFO) effective March 31, 2025, succeeding Eric M. Williams, who stepped down as executive vice president and CFO, effective March 30, 2025.

Liska’s appointment comes at a time when the company is undergoing a transformation amid financial struggles. She has experience advising energy companies through such periods, Sunnova reports.

Liska will work alongside newly appointed president and CEO, Paul Mathews, who is charged with implementing a $70 million cost reduction initiative, refinancing certain of its obligations due during the look-forward period and simplifying operations to better serve “high-margin” customers.

Sunnova says Liska has a strong track record of strategic financial leadership, capital markets and energy policy expertise, and more than 15 years of experience in energy and renewables sectors. Previous positions include a role as executive director in J.P. Morgan’s Power and Renewables Investment Banking division, a director in Bank of America’s Energy and Clean Power Equity Capital Markets group, and an associate director in UBS’s Global Power & Renewables group.

“Robyn has deep industry knowledge and a proven record of driving financial transformation,” said Mathews. “Her expertise will be invaluable as we continue to work to stabilize our foundation, sharpen our execution, and position Sunnova to succeed in today’s evolving solar energy market. I look forward to partnering closely with Robyn to build a stronger, leaner, and more agile Sunnova for the future.”

“There is important work to be done, and I’m proud to join a strong leadership team that is moving with clarity and purpose to enhance Sunnova’s financial position and lay a foundation for near-term cash generation and long-term value creation,” Liska said.

In addition to Liska’s appointment, the company promoted Alisha Leveston to executive vice president, operations, reporting to CEO Paul Mathews. Leveston previously served as Sunnova’s senior vice president of industrial engineering and held executive roles at United Parcel Services, Inc.

Sunnova has been in a downturn for more than a year, and announced it was laying off 15% of its workforce in February 2024. Last month the company’s future was in question following the company’s fourth quarter earnings and announcement that its cash flow is not sufficient to meet obligations and fund operations, A week later its CEO stepped down and Paul Mathews was named new president and CEO. Soon thereafter, Oaktree Capital Management, a global investment firm, bought roughly $400 million of Sunnova’s $8.5 billion in debt .

Sunnova reports it is now engaged in discussions with stakeholders regarding plans to reduce debt and strengthen finances and that it is electing to enter into the 30-day grace period related to the interest payment due on April 1, 2025 on notes issued by Sunnova Energy Corporation. Sunnova says the grace period does not constitute an “Event of Default” under the indenture, and that it supports efforts to “preserve liquidity and enhance financial flexibility, while it continues constructive discussions with key financial stakeholders regarding solutions to strengthen its capital structure.”

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.