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Sunnova Receives Court Approval of Chapter 11 Plan
Businesswireยท 2025-11-12 14:58
Core Points - Sunnova Energy International Inc. has received court approval for its Chapter 11 Plan, marking a significant step in its restructuring process [1][3] - The company has sold substantially all of its assets and business operations to Solaris Assets, LLC, with core operations transitioning to SunStrong Management, LLC [2][9] - A Creditor Trustee will be appointed to manage the distribution of proceeds from the sale to creditors and oversee the orderly wind down of the remaining business operations [3] Company Overview - Sunnova is an adaptive energy services company focused on making clean energy more accessible, reliable, and affordable for homeowners and businesses [6] - The company aims to deliver better energy services at competitive prices, promoting its mission of powering energy independence [6] Advisors and Support - Legal counsel for the company includes Kirkland & Ellis LLP and Bracewell LLP, while Alvarez & Marsal serves as the financial advisor [5] - Moelis & Company LLC is acting as the investment banker, and C Street Advisory Group is providing strategic communications support [5]