Sunnova Energy Corporation, a Houston, TX-based solar energy company, secured approximately $300m in debt and equity funding.
The transactions include a conduit facility arranged by Credit Suisse, and an equity financing round led by Triangle Peak Partners, LP. Additional equity investors include business development companies sponsored by Franklin Square Capital Partners LP, which are sub-advised by GSO Capital Partners LP, the global credit investment platform of Blackstone. As part of the transaction, Rob Horn from GSO Capital Partners LP, Mike Morgan and David Pesikoff from Triangle Peak Partners, LP and C. Park Shaper from SEIS Holdings, LLC, joined Sunnova’s board of directors.
Led by Chief Executive Officer William J. (John) Berger, Sunnova offers rooftop solar service to homeowners within and outside the United States through a network of local sales and installation partners.
The company, which closed a $250m financing round in November 2014 and almost $900m in total, will use the funds to continue growing its position in the market.