Residential solar panels company Sunnova Energy has secured an equity investment of $300m from private equity firm Energy Capital Partners.


The investments will be used by Capital to continue strengthen its residential solar business while providing clean and affordable energy to markets.

Sunnova has raised over $1.2bn in capital in the past three years.

Sunnova CEO William J. (John) Berger said: "Our commitment to delivering great value and service to our customers has served as the catalyst for our extraordinary growth since the company’s inception four years ago.

"Our focus on profitable, scalable growth and a well-capitalized company have established Sunnova as a clear leader in the rapidly growing solar power economy."

Sunnova, in partnership with local installers, will invest in assets to provide affordable solar power to homeowners. The move is also expected to create jobs across the US.

ECP partner Rahman D’Argenio said: "Sunnova boasts a combination of great management, a competitive cost structure, and strong partner relationships.

"With access to substantial equity capital from ECP, Sunnova should be significantly advantaged in serving both its customers and channel partners across a quickly evolving industry and regional landscape."

In October 2015, Sunnova secured approximately $300m in debt and equity funding to help strengthen residential solar energy service market.

With more than $13bn of capital commitments, ECP focuses on investing in renewable power generation, midstream oil and gas, electric transmission, environmental infrastructure and energy services sectors of North America’s energy infrastructure.

Image: Sunnova plans to strengthen residential solar business. Photo: courtesy of dan/