Bankruptcy! Former Photovoltaic Leader Approved to Sell All Assets!

2025-08-04 18:12:14

On July 31, Sunnova Energy, an American residential solar company, announced that it had received court approval to sell almost all its assets and business operations to a temporary group of debtor-in-possession financing lenders, and that it had received $90 million in DIP financing to support its operations in the sale process.

On July 31, Sunnova Energy, an American residential solar company, announced that it had been approved by the court to sell almost all its assets and business operations to a temporary group of debtor-in-possession financing lenders. At the same time, it received $ 90 million in DIP financing to support its operations during the sale process.

It is understood that, The deal involves the sale of Sunnova's residential solar services, Operations and Maintenance (O & M) platforms and solar power and " it is worth noting that," Less than a month before the sale , the company also reached a "fake horse asset purchase agreement" with Omnidian, a residential, commercial and industrial (C & I) solar power plant performance evaluation company. At that time, it planned to buy Sunnova's assets for $ 7 million.

According to DataBM,

in February 2025, it first announced a 15% layoff, and then in June, the troubled Sunnova and its subsidiaries filed for bankruptcy protection, and then laid off about 55%, or 718 employees. (For details, please click: ① PV TOP3 leading subsidiary files for bankruptcy ;

In terms of performance, the latest financial data show that Sunnova achieved revenue of $840 million in 2024, an increase of 17% compared with 2023; However, its net profit loss was as high as 448 million US dollars, compared with 4.

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