sunnova

Newly formed firm Solaris Assets has acquired the business operations and assets of Texas-based residential solar installer Sunnova.

The US Bankruptcy Court for the Southern District of Texas has approved the sale of substantially all of residential solar installer Sunnova's assets and business operations.

US solar residential installer Sunnova has entered into a stalking horse asset purchase agreement with Omnidian for some of its assets.

US solar residential installer Sunnova has received court approval for a US$90 million debtor-in-possession financing agreement.

US residential solar companies Sunnova and Solar Mosaic have filed voluntary petitions for relief under Chapter 11 of the US Bankruptcy Code.

US residential solar installer Sunnova has laid off more than half of its workforce, while a subsidiary from Delaware filed for Chapter 11 bankruptcy.

The US Department of Energy has downsized a loan to US residential solar installer Sunnova from an initial US$3 billion to US$371.6 million.

"With the advent of AI, we’re able to take that 15-minute turnaround, at best, and take it down to 30 seconds," claims Sunnova's Jake Wachman.

Sunnova has received a notice of non-compliance from the New York Stock Exchange requiring it to raise its stock price to a minimum of US$1.

Sunnova has appointed a new interim chief financial officer as it continues to repair damage done to its finances.