Sunnova secures $300 million in equity from Energy Capital Partners

Funds seem easy to come by for the top solar providers these days. Sunnova Energy Corp. has secured $300 million in equity from Energy Capital Partners (ECP), a private equity firm with over $13 billion of capital commitments. Sunnova will use the funds to continue the company’s impressive growth in the residential solar market. Sunnova partners with local installers to invest in assets to provide affordable solar power to homeowners while creating job opportunities nationwide.

Sunnova residential solar-001Energy Capital Partners (ECP) has experience building and acquiring successful platforms across multiple energy sub-sectors of North American energy infrastructure, including clean energy and environmental infrastructure assets.

RELATED: Two top solar installers announce new financing deals this week 

“We are pleased to partner with ECP in order to continue to provide clean, affordable energy to markets around the U.S.,” said Sunnova Chief Executive Officer William J. (John) Berger. “Our commitment to delivering great value and service to our customers has served as the catalyst for our extraordinary growth since the company’s inception four years ago. Our focus on profitable, scalable growth and a well-capitalized company have established Sunnova as a clear leader in the rapidly growing solar power economy.”

“As the power industry continues to evolve, we feel that Sunnova is well-positioned to provide customers with a unique and differentiated value proposition,” Berger continued. “We remain committed to our national network of local channel partners and our distributed origination and fulfillment model. We also look forward to working with ECP in order to leverage their tremendous experience in both national and global power markets.”

ECP joins existing investors Franklin Square Capital Partners, which are sub-advised by GSO Capital Partners LP  and also includes Triangle Peak Partners, LP.

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