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09.06.25 - 21:51
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Green Dominoes Fall: Sunnova Files For Bankruptcy After SunPower′s Collapse (ZeroHedge)
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Green Dominoes Fall: Sunnova Files For Bankruptcy After SunPower's Collapse
Sunnova Energy International Inc. has become the second major publicly traded rooftop solar firm to file for bankruptcy within a year following SunPower's collapse in August 2024. The bankruptcy filing in Texas underscores the mounting pressure across the green energy space, as the recent Republican-led budget bill passed by Congress includes provisions to eliminate subsidies for solar companies.
Shares of Sunnova crashed 30% in premarket trading after the company filed for bankruptcy in Texas on Sunday, listing between $10 billion and $50 billion in liabilities and assets. The filing follows earlier warnings about its deteriorating capital structure amid ongoing negotiations with creditors.
Last month, the Trump administration terminated a $3 billion federal loan guarantee program for Sunnova, of which the company had drawn roughly $371 million. The guarantee was part of the Biden-Harris regime's broader push fo...
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09.06.25 - 17:42
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Trumps Energie-Pläne setzen US-Solarbranche zu - Nächste Firma pleite (Cash)
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Das Unternehmen Sunnova Energy, das Solarmodule für Privathaushalte installiert, beantragte über das Pfingstwochenende Gläubigerschutz und begründete dies mit steigenden Schulden und schwächerer Nachfrage. Vergangene Woche hatte bereits der Konkurrent Solar Mosaic Insolvenz angemeldet. Die Branche hat mit hohen Zinsen, einer Fördermittel-Kürzung im wichtigen Markt Kalifornien und der Sorge der Bauherren vor einem Subventionsabbau zu kämpfen...
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09.06.25 - 14:18
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XFRA: 7SE: Aussetzung/Suspension (XETRA)
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DAS/ DIE FOLGENDE(N) INSTRUMENT(E) IST/ SIND AB SOFORT AUSGESETZT:
THE FOLLOWING INSTRUMENT(S) IS/ ARE SUSPENDED WITH IMMEDIATE EFFECT:
INSTRUMENT NAME KUERZEL/SHORTCODE ISIN BIS/UNTIL
SUNNOVA ENERGY INT.-,0001 7SE US86745K1043 BAW/UFN...
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07.06.25 - 01:00
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KBRA Comments on Chapter 11 Filing of Sunnova Subsidiary and Reduction in Workforce (Business Wire)
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NEW YORK--(BUSINESS WIRE)--#KBRA--In an 8-K filing on June 5, 2025, Sunnova Energy Corporation (Sunnova)—the sponsor and originator of 24 residential solar loan and lease transactions rated by KBRA1 —disclosed that its wholly-owned subsidiary, Sunnova TEP Developer, LLC (Sunnova TEP), had filed a voluntary petition for relief under Chapter 11 of U.S. Bankruptcy Code. Sunnova also reported that its Board approved a reduction in force, effective May 30, 2025, of approximately 718 employees or 55% of its workforce. Given these developments, it is plausible that additional Sunnova subsidiaries— and potentially Sunnova itself—may seek bankruptcy protection in the near future.
KBRA is currently monitoring the situation, as it maintains ratings on 54 classes of notes issued from the 24 solar ABS transactions totaling $6.0 billion. These transactions comprise 13 loan and 11 lease deals, for which Sunnova also serves as production guarantor and performance guarantor.
Even if Sunnova were to file for bankru...
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31.05.25 - 00:45
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KBRA Comments on Amendment to Sunnova′s Loan Guarantee Agreement with DOE (Business Wire)
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NEW YORK--(BUSINESS WIRE)--#creditratingagency--In an 8-K filing with the Securities and Exchange Commission on May 29, 2025, Sunnova Energy Corporation (Sunnova) disclosed that it had amended its Loan Guarantee Agreement with the U.S. Department of Energy (DOE) on May 22, 2025. The amendment reduced the maximum aggregate amount of partial guarantees from $3.0 billion to $371.6 million. This is equal to the total partial guarantees previously issued for Sunnova's two solar loan ABS transactions under Project Hestia: Sunnova Hestia I Issuer, LLC, Series 2023-GRID1 and Sunnova Hestia II Issuer, LLC, Series 2024-GRID1.
KBRA currently maintains ratings on two classes of notes issued from the two transactions. Each has a Class 1-A tranche that benefits from DOE guarantees covering both principal and interest payments. On May 2, 2025, KBRA affirmed its 'AAA (sf)' ratings on each of the Class 1-A notes, as well as its 'BB (sf)' ratings on the Class 2-A notes of each transaction.
Although the amendment reduc...
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