Sunnova Energy International Secures $3 Billion Loan for Project Hestia

Historic Investment to Benefit Disadvantaged American Communities

U.S. Department of Energy Loan Powers Solar Expansion

Houston, Texas - Sunnova Energy International, a leading rooftop solar company, has announced a historic $3 billion loan from the U.S. Department of Energy (DOE). Project Hestia, supported by the loan, will enable Sunnova to significantly expand its solar installations in disadvantaged American communities, bringing affordable clean energy solutions to those who need it most.

The Loan Programs Office (LPO) of the DOE approved Sunnova's application in April, recognizing the company's proven track record and commitment to sustainable energy equity. The loan is expected to unlock over $5 billion in solar loan originations, reducing Sunnova's weighted average cost of capital. This will allow the company to offer more competitive financing options to customers, making solar energy more accessible and affordable.

John Berger, Sunnova's Chairman, President, and CEO, emphasized the transformative power of Project Hestia. "This loan will empower Sunnova to accelerate our mission of providing clean, affordable energy to all Americans," Berger said. "Project Hestia will make a meaningful difference in the lives of disadvantaged communities, creating jobs, reducing energy costs, and promoting environmental sustainability."

The DOE's commitment to solar energy development is a testament to its role in combating climate change and advancing American energy independence. Project Hestia serves as a model for the public and private sectors to collaborate in fostering a clean energy future that benefits all Americans.