Sunnova Energy Corporation today announced it has secured a $175 million warehouse credit facility from Goldman Sachs. The funds will help support Sunnova's continued growth in the residential solar market.
The $175 million warehouse facility from Goldman Sachs follows the securing of a $300 million equity commitment from Energy Capital Partners in March. The total amount of funding raised by Sunnova in just three years is nearly $1.5 billion.
"Our focus on profitability, cash flow and measured, sustainable growth sets us apart in the solar industry," said Sunnova CEO John Berger. "We are committed to growing responsibly and our investors and lenders appreciate that."
"Goldman Sachs' financing will allow us to continue to execute on our strategy of bringing consumers a cost-effective, clean choice for their electricity," continued Berger.
The $175 million debt financing marks the first transaction between Sunnova and Goldman Sachs.