Sunnova subsidiary files for bankruptcy protection
The residential solar company has been in a downturn for more than a year, with earnings misses, layoffs, changes in leadership and cancellation of a $3 billion loan guarantee.
Sunnova’s saga continues with canceled $3 billion loan guarantee
The loan agreement from the Energy Department’s Loan Programs Office was to support Project Hestia, a model that Sunnova has since moved away from in favor of power purchase agreements.
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.
Oaktree Capital reported to buy $400 million of Sunnova debt
The troubled residential solar installer issued a going concern warning earlier this month.
Amid financial turmoil, Sunnova awards $2.12 million in bonuses to top executives
The bonuses fall on the cusp of the company’s recent layoffs, resignation of its CEO and bankruptcy rumors.
William J. Berger steps down as CEO of Sunnova
Paul Mathews named as president and CEO of this struggling residential solar energy company, as it repositions to improve cash flow.
Sunnova’s future in question
Sunnova Energy International, a residential solar installer, said its cash flow is not sufficient to meet obligations and fund operations.
Sunrise brief: Sunnova cuts about 15% of workforce
Also on the rise: Enhanced geothermal projects could scale greatly as costs decline. Invenergy CEO and spouse give $100 million to advance the energy transition. And more.
Sunnova cuts about 15% of workforce
Amid a down cycle for the industry, residential solar and home adaptive services company said it is prioritizing efficiency and higher cash generation.
In case you missed it: Six big solar stories in the news this week
pv magazine USA spotlights news of the past week including market trends, project updates, policy changes and more.
