The major US residential installer has reported a surge in both revenues and earnings during Q2 2020, leading it to claim it is not only surviving the COVID-19 pandemic, but thriving.
Firm stands out from residential peers as it claims EBITDA of US$58-62m and 28,000-30,000 customer additions are possible this year, with Q1 results showing losses continue to pile.
Interest payments, stock market listing and other factors drive doubling of net losses from 2018 (US$68.4m) to 2019 (US$133.4m), even as revenues and new customers increase.
The US domestic installer has clinched a US$95 million revolving asset-based loan facility and a private placement of US$55 million aggregate principal amount of convertible senior notes.
Despite a lower-than-expected public offering in July and escalating net losses, Sunnova says it is "well-positioned" to reach operational and financial targets, thanks to its growing dealer network and favourable macroeconomics.
Sunnova and PetersonDean’s partnership will focus specifically on homebuilders in the sunshine state, where all homes constructed after January 2020 must have solar arrays.
Residential solar service provider Sunnova Energy announced Tuesday that it has secured US$80 million in tax equity funding commitments from US Bancorp Community Development Corporation (USBCDC), a division of US Bank.
Global energy technology company Enphase Energy and residential solar company Sunnova announced a partnership Wednesday that will make Enphase the preferred provider of inverters for Sunnova.
Utah's sPower surpasses 1GW of operating PV assets, Sunnova expands its solar system ownership programme, PI Berlin takes on a consultancy role for Adenium's Jordan PV projects and ACC partners with VAST China for a rooftop PV power station.
Houston-based solar firm Sunnova Energy Corporation has secured a US$175 million warehouse credit facility from Goldman Sachs to help support its continued growth in the residential solar market.
US-based residential solar firm Sunnova Energy has secured US$300 million from private equity firm Energy Capital Partners (ECP) to continue its growth in the residential solar sector.
