New identify Solaris Belongings has accomplished the acquisition of property and enterprise operations of Sunnova Power. Solaris Belongings is the entity shaped by GoodFinch Management. Sunnova filed for bankruptcy in June.
Solaris is now answerable for Sunnova’s residential photo voltaic servicing and O&M platform and Sunnova’s photo voltaic and storage portfolio. Core operations are transitioning to SunStrong Management. SunStrong’s administration staff will lead the go-forward enterprise, making certain a seamless transition for patrons, workers and companions. SunStrong says it’s dedicated to offering dependable and customer-focused service and sustaining prime quality service and help for considerably all of Sunnova’s present prospects.
“By bringing collectively SunStrong’s asset administration experience with Sunnova’s nationally scaled buyer base, we’re making a stronger, extra succesful chief within the photo voltaic trade,” stated Brendon Merkley, CEO of SunStrong. “Our precedence is to take care of the very best ranges of service for patrons as we broaden our footprint as a premier photo voltaic asset servicer. Collectively, we’re dedicated to advancing the way forward for renewable vitality and delivering lasting worth to our companions and communities throughout the nation.”
SunStrong’s full-service asset administration strategy gives a collection of choices to each photo voltaic asset house owners and capital markets buyers, together with area service O&M, billing and collections, and investor engagement and reporting. SunStrong can be managing legacy SunPower property after that firm filed bankruptcy in 2024.
As a part of the combination, former Sunnova CEO Paul Mathews shall be becoming a member of SunStrong as Chief Income Officer, a brand new function established to drive progress and efficiency. SunStrong may even retain key expertise, programs, and capabilities from Sunnova, additional strengthening its asset administration platform and creating new alternatives for enlargement.
“This transaction marks a big step ahead that preserves the perfect of the platform, folks, and buyer relationships which have been the guts of the previous Sunnova,” stated Paul Mathews, SunStrong’s new Chief Income Officer. “We’re pleased with the innovation we delivered to the residential photo voltaic and storage market, and I stay up for constructing upon SunStrong’s differentiated and main asset administration providers.”
Further info concerning the Sunnova’s chapter 11 course of is offered here and here. Stakeholders with questions can contact the corporate’s claims agent Kroll by calling (888) 975-5436 (U.S. and Canada toll free) or +1 (646) 930-4686 (Worldwide) or emailing [email protected].
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