Daily News: November 21, 2014

Franklin Square Capital Leads Sunnova Funding

Sunnova Energy secured an additional $250 million in committed funding, led by business development companies sponsored by Franklin Square Capital Partners, subadvised by GSO Capital Partners, and including Triangle Peak Partners. Barclays acted as sole placement agent to Sunnova on the transaction.

The $250 million is the largest-ever round of funding raised by a private residential solar service company in the U.S. and brings Sunnova’s total funding to approximately half a billion dollars, establishing the company as a market leader in solar power service.

“The demand for affordable energy is substantial,” said Sunnova Chief Executive Officer William J. (John) Berger. “The rapid growth Sunnova is experiencing in the markets we serve is propelled by our dedication to provide high-quality resources in support of our market leadership and customer service.”

Sunnova is a solar power company providing nationwide coverage with local minded service to thousands of homes across the United States.