The United States Bankruptcy Court has confirmed Sunnova Energy International Inc.'s Chapter 11 Plan, marking the final major step in the company's restructuring process following the sale of its core assets to Solaris Assets, LLC.
Sunnova Energy International Inc. announced a significant milestone in its financial restructuring, confirming that the United States Bankruptcy Court for the Southern District of Texas has formally confirmed its Chapter 11 Plan. This confirmation is the culmination of a months-long process that began with the company filing for Chapter 11 protection in June 2025, following substantial financial distress from high interest rates, inflation, and a significant debt burden, which included over $8 billion in total debt.
The confirmation of the Plan follows the previously approved Sale Transaction of substantially all of the Company’s assets and core business operations to Solaris Assets, LLC. Solaris acquired Sunnova's residential solar servicing platform and its solar generation and storage portfolio. The transaction was valued at approximately $118 million in total, including a credit bid of the debtor-in-possession financing, $25 million in cash, and the payment of certain cure costs.
As part of the Sale Transaction, Sunnova’s core operations have successfully transitioned to SunStrong Management, LLC, a full-service asset manager for the renewables industry. SunStrong, which has experience managing legacy SunPower assets, will continue to lead day-to-day operations, ensuring the continued provision of high-quality service and support for Sunnova’s extensive customer base and partners.
The confirmed Plan now sets the stage for the final phase of Sunnova’s restructuring. Pursuant to the Plan's terms, a Creditor Trustee will be formally appointed. This Trustee's mandate will be to systematically distribute the proceeds from the Sale Transaction to creditors and oversee an orderly wind-down of the Company’s remaining business and corporate operations. The Company, in its statement, emphasized that the confirmation of the Plan is a critical step, positioning the Company's estate to maximize value for all stakeholders and bring the Chapter 11 proceedings to an orderly conclusion.
The confirmed Plan is the final chapter for Sunnova Energy International Inc. in its current form, allowing the debt-laden entity to dissolve while ensuring the continuation of its substantial installed base of adaptive energy services under new, specialized management. Sunnova, which previously described itself as an industry-leading adaptive energy services company focused on making clean energy more accessible, had faced a severe liquidity crisis and laid off approximately 55% of its workforce earlier in the year as part of its efforts to stabilize the business ahead of the sale.
