{"id":516171,"date":"2021-07-22T06:58:11","date_gmt":"2021-07-22T10:58:11","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/sunnova-launches-its-green-financing-framework-and-prices-a-212-million-securitization-of-residential-solar-and-battery-loan-agreements\/"},"modified":"2021-07-22T06:58:11","modified_gmt":"2021-07-22T10:58:11","slug":"sunnova-launches-its-green-financing-framework-and-prices-a-212-million-securitization-of-residential-solar-and-battery-loan-agreements","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/sunnova-launches-its-green-financing-framework-and-prices-a-212-million-securitization-of-residential-solar-and-battery-loan-agreements\/","title":{"rendered":"Sunnova Launches Its Green Financing Framework and Prices a $212 Million Securitization of Residential Solar and Battery Loan Agreements"},"content":{"rendered":"<p>        <!--body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p><b>Sunnova Launches Its Green Financing Framework and Prices a $212 Million Securitization of Residential Solar and Battery Loan Agreements<\/b><\/p>\n<p>HOUSTON&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nSunnova Energy International Inc. (\u201cSunnova\u201d) (NYSE: NOVA), today announced the pricing of its fourth solar loan securitization and its tenth residential solar securitization. Sunnova also announced the launch of a new green financing framework (the \u201cGreen Financing Framework\u201d) that will guide Sunnova\u2019s investments in new and existing projects that have environmental benefits.\n<\/p>\n<p>\n\u201cThis securitization, priced at a 1.82% blended coupon, represents Sunnova\u2019s highest-rated, lowest cost of capital issuance to-date,\u201d said Robert Lane, Executive Vice President, Chief Financial Officer of Sunnova. \u201cIt is the second transaction structured to align asset debt service with asset cash flows, increase free cash flow to Sunnova, and accelerate the issuance of a bullet-maturity green bond.\u201d\n<\/p>\n<p>\n\u201cThrough our energy services, we are working to accelerate our ESG impact and to create shared value for our customers, employees, communities, partners, and investors,\u201d said Kelsey Hultberg, Executive Vice President, Chief of Staff of Sunnova. \u201cConsistent with our commitment to sustainable business practices and advancing corporate social responsibility within the solar industry, we are proud to launch our Green Financing Framework which will guide the issuance of our green financings.\u201d\n<\/p>\n<p>\nThe Green Financing Framework underscores Sunnova\u2019s commitment to environmental sustainability, allows Sunnova to demonstrate its qualifications to investors who seek third-party assessed renewable energy investment opportunities, and will diversify Sunnova\u2019s access to capital. The Green Financing Framework has been subject to an independent external assessment by CICERO Shades of Green, which has classified the Green Financing Framework as Dark Green\u2014its highest level. Under the Green Financing Framework, financings will be required to meet internal eligibility criteria that align with the International Capital Market Association\u2019s Green Bond Principles (\u201cGreen Bond Principles\u201d), and net proceeds from any financings may be used for the capital investment, research, development, acquisition, manufacturing, distribution, maintenance and operation of solar energy and storage systems and enabling technologies for solar energy storage and optimization. The Green Financing Framework and CICERO Shades of Green\u2019s Second Opinion can be found <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Finvestors.sunnova.com%2FESG%2FGreen-Financing-Framework%2Fdefault.aspx&amp;esheet=52464374&amp;newsitemid=20210722005356&amp;lan=en-US&amp;anchor=here&amp;index=1&amp;md5=95ee84a73b7bd3a86a55d897f8fcb1eb\">here<\/a>.\n<\/p>\n<p>\nMr. Lane added, \u201cSunnova\u2019s high-quality residential solar assets and superior customer service continue to realize industry-leading costs of capital. On this 2021-B transaction, we achieved spreads of 80 bps and 120 bps for the AA- and the A- tranches, respectively, over the interest rate benchmark. This represents Sunnova\u2019s best pricing to-date for a solar and storage loan asset securitization.\u201d\n<\/p>\n<p>\nThe securitization consists of $106.2 million in AA- (sf) rated 1.62% notes and $106.2 million in A- (sf) rated 2.01% notes. The notes carry a weighted average life to the Anticipated Repayment Date of July 20, 2028, approximately 5.07 years, and have a final maturity of July 20, 2048.\n<\/p>\n<p>\nThe notes are backed by a diverse portfolio of 6,435 solar rooftop systems distributed across 19 states and territories. The weighted average customer FICO score of the related customers at the time of origination is 735. The transaction is expected to close by July 28, 2021, subject to customary closing conditions.\n<\/p>\n<p>\nCredit Suisse was the sole structuring agent and bookrunner for the securitization, and Popular Securities acted as co-manager.\n<\/p>\n<p>\nThe notes have not been and will not be registered under the Securities Act of 1933, as amended, or applicable state securities laws, and, unless so registered, such securities may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws.\n<\/p>\n<p>\nThis press release is neither an offer to sell nor a solicitation of an offer to buy any securities, nor shall it constitute an offer, solicitation of an offer or sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. Any offer of the notes will be made only by means of a private offering circular.\n<\/p>\n<p><b>FORWARD-LOOKING STATEMENTS<\/b><\/p>\n<p>\nThis press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally relate to future events or Sunnova&#8217;s future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as &#8220;may,&#8221; &#8220;will,&#8221; &#8220;should,&#8221; &#8220;expect,&#8221; &#8220;plan,&#8221; &#8220;anticipate,&#8221; &#8220;going to,&#8221; &#8220;could,&#8221; &#8220;intend,&#8221; &#8220;target,&#8221; &#8220;project,&#8221; &#8220;contemplates,&#8221; &#8220;believe,&#8221; &#8220;estimate,&#8221; &#8220;predict,&#8221; &#8220;potential&#8221; or &#8220;continue&#8221; or the negative of these words or other similar terms or expressions that concern Sunnova&#8217;s expectations, strategy, priorities, plans or intentions. Forward-looking statements in this release include, but are not limited to, statements regarding the expectations in connection with the offering, including the closing thereof, the use of proceeds from the offering and the use of excess cashflows from the collateral, as well as debt service, cash flows, future financing plans, and Sunnova\u2019s ongoing priorities, objectives and strategies. Sunnova&#8217;s expectations and beliefs regarding these matters may not materialize, and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected, including risks regarding our ability to forecast our business due to our limited operating history, the effects of the coronavirus pandemic on our business and operations, results of operations and financial position, our competition, fluctuations in the solar and home-building markets, availability of capital, our ability to attract and retain dealers and customers and our dealer and strategic partner relationships. The forward-looking statements contained in this release are also subject to other risks and uncertainties, including those more fully described in Sunnova&#8217;s filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2020 and our Quarterly Report on Form 10-Q for the quarter ended March 31, 2021. The forward-looking statements in this release are based on information available to Sunnova as of the date hereof, and Sunnova disclaims any obligation to update any forward-looking statements, except as required by law.\n<\/p>\n<p><b>ABOUT SUNNOVA<\/b><\/p>\n<p>\nSunnova Energy International Inc. (NYSE: NOVA) is a leading residential solar and energy storage service provider with customers across the U.S. and its territories. Sunnova\u2019s goal is to be the source of clean, affordable and reliable energy with a simple mission: to power energy independence so that homeowners have the freedom to live life uninterrupted\u00ae.\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210722005356r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20210722005356\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20210722005356\/en\/<\/a><\/span><\/p>\n<p><b>INVESTOR RELATIONS:<br \/>\n<\/b><br \/>Rodney McMahan, Vice President Investor Relations<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:IR@sunnova.com\">IR@sunnova.com<br \/>\n<\/a><br \/>281.971.3323\n<\/p>\n<p><b>MEDIA CONTACT<br \/>\n<\/b><br \/>Alina Eprimian, Media Relations Manager<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:Alina.eprimian@sunnova.com\">Alina.eprimian@sunnova.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> United States North America Texas<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Environment Commercial Building &amp; Real Estate Construction &amp; Property Finance Other Energy Professional Services Building Systems Alternative Energy Energy Residential Building &amp; Real Estate<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20210722005356\/en\/893305\/3\/Sunnova_Logo.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Sunnova Launches Its Green Financing Framework and Prices a $212 Million Securitization of Residential Solar and Battery Loan Agreements HOUSTON&#8211;(BUSINESS WIRE)&#8211; Sunnova Energy International Inc. (\u201cSunnova\u201d) (NYSE: NOVA), today announced the pricing of its fourth solar loan securitization and its tenth residential solar securitization. Sunnova also announced the launch of a new green financing framework (the \u201cGreen Financing Framework\u201d) that will guide Sunnova\u2019s investments in new and existing projects that have environmental benefits. \u201cThis securitization, priced at a 1.82% blended coupon, represents Sunnova\u2019s highest-rated, lowest cost of capital issuance to-date,\u201d said Robert Lane, Executive Vice President, Chief Financial Officer of Sunnova. \u201cIt is the second transaction structured to align asset debt service with asset cash flows, increase free cash flow &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/sunnova-launches-its-green-financing-framework-and-prices-a-212-million-securitization-of-residential-solar-and-battery-loan-agreements\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Sunnova Launches Its Green Financing Framework and Prices a $212 Million Securitization of Residential Solar and Battery Loan Agreements&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-516171","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Sunnova Launches Its Green Financing Framework and Prices a $212 Million Securitization of Residential Solar and Battery Loan Agreements - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/sunnova-launches-its-green-financing-framework-and-prices-a-212-million-securitization-of-residential-solar-and-battery-loan-agreements\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sunnova Launches Its Green Financing Framework and Prices a $212 Million Securitization of Residential Solar and Battery Loan Agreements - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Sunnova Launches Its Green Financing Framework and Prices a $212 Million Securitization of Residential Solar and Battery Loan Agreements HOUSTON&#8211;(BUSINESS WIRE)&#8211; Sunnova Energy International Inc. (\u201cSunnova\u201d) (NYSE: NOVA), today announced the pricing of its fourth solar loan securitization and its tenth residential solar securitization. Sunnova also announced the launch of a new green financing framework (the \u201cGreen Financing Framework\u201d) that will guide Sunnova\u2019s investments in new and existing projects that have environmental benefits. \u201cThis securitization, priced at a 1.82% blended coupon, represents Sunnova\u2019s highest-rated, lowest cost of capital issuance to-date,\u201d said Robert Lane, Executive Vice President, Chief Financial Officer of Sunnova. \u201cIt is the second transaction structured to align asset debt service with asset cash flows, increase free cash flow &hellip; Continue reading &quot;Sunnova Launches Its Green Financing Framework and Prices a $212 Million Securitization of Residential Solar and Battery Loan Agreements&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/sunnova-launches-its-green-financing-framework-and-prices-a-212-million-securitization-of-residential-solar-and-battery-loan-agreements\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-07-22T10:58:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210722005356r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/sunnova-launches-its-green-financing-framework-and-prices-a-212-million-securitization-of-residential-solar-and-battery-loan-agreements\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/sunnova-launches-its-green-financing-framework-and-prices-a-212-million-securitization-of-residential-solar-and-battery-loan-agreements\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Sunnova Launches Its Green Financing Framework and Prices a $212 Million Securitization of Residential Solar and Battery Loan Agreements\",\"datePublished\":\"2021-07-22T10:58:11+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/sunnova-launches-its-green-financing-framework-and-prices-a-212-million-securitization-of-residential-solar-and-battery-loan-agreements\\\/\"},\"wordCount\":1122,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/sunnova-launches-its-green-financing-framework-and-prices-a-212-million-securitization-of-residential-solar-and-battery-loan-agreements\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&amp;sty=20210722005356r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/sunnova-launches-its-green-financing-framework-and-prices-a-212-million-securitization-of-residential-solar-and-battery-loan-agreements\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/sunnova-launches-its-green-financing-framework-and-prices-a-212-million-securitization-of-residential-solar-and-battery-loan-agreements\\\/\",\"name\":\"Sunnova Launches Its Green Financing Framework and Prices a $212 Million Securitization of Residential Solar and Battery Loan Agreements - 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(\u201cSunnova\u201d) (NYSE: NOVA), today announced the pricing of its fourth solar loan securitization and its tenth residential solar securitization. Sunnova also announced the launch of a new green financing framework (the \u201cGreen Financing Framework\u201d) that will guide Sunnova\u2019s investments in new and existing projects that have environmental benefits. \u201cThis securitization, priced at a 1.82% blended coupon, represents Sunnova\u2019s highest-rated, lowest cost of capital issuance to-date,\u201d said Robert Lane, Executive Vice President, Chief Financial Officer of Sunnova. \u201cIt is the second transaction structured to align asset debt service with asset cash flows, increase free cash flow &hellip; Continue reading \"Sunnova Launches Its Green Financing Framework and Prices a $212 Million Securitization of Residential Solar and Battery Loan Agreements\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/sunnova-launches-its-green-financing-framework-and-prices-a-212-million-securitization-of-residential-solar-and-battery-loan-agreements\/","og_site_name":"Market Newsdesk","article_published_time":"2021-07-22T10:58:11+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210722005356r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/sunnova-launches-its-green-financing-framework-and-prices-a-212-million-securitization-of-residential-solar-and-battery-loan-agreements\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/sunnova-launches-its-green-financing-framework-and-prices-a-212-million-securitization-of-residential-solar-and-battery-loan-agreements\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Sunnova Launches Its Green Financing Framework and Prices a $212 Million Securitization of Residential Solar and Battery Loan Agreements","datePublished":"2021-07-22T10:58:11+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/sunnova-launches-its-green-financing-framework-and-prices-a-212-million-securitization-of-residential-solar-and-battery-loan-agreements\/"},"wordCount":1122,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/sunnova-launches-its-green-financing-framework-and-prices-a-212-million-securitization-of-residential-solar-and-battery-loan-agreements\/#primaryimage"},"thumbnailUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210722005356r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/sunnova-launches-its-green-financing-framework-and-prices-a-212-million-securitization-of-residential-solar-and-battery-loan-agreements\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/sunnova-launches-its-green-financing-framework-and-prices-a-212-million-securitization-of-residential-solar-and-battery-loan-agreements\/","name":"Sunnova Launches Its Green Financing Framework and Prices a $212 Million Securitization of Residential Solar and Battery Loan Agreements - 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