New title Solaris Property has accomplished the acquisition of belongings and enterprise operations of Sunnova Vitality. Solaris Property is the entity shaped by GoodFinch Management. Sunnova filed for bankruptcy in June.
Solaris is now in command of 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 group will lead the go-forward enterprise, guaranteeing a seamless transition for purchasers, staff 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 clients.
“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 business,” stated Brendon Merkley, CEO of SunStrong. “Our precedence is to take care of the best ranges of service for purchasers as we broaden our footprint as a premier photo voltaic asset servicer. Collectively, we’re dedicated to advancing the way forward for renewable power and delivering lasting worth to our companions and communities throughout the nation.”
SunStrong’s full-service asset administration method gives a collection of choices to each photo voltaic asset homeowners and capital markets buyers, together with area service O&M, billing and collections, and investor engagement and reporting. SunStrong can also be managing legacy SunPower belongings after that firm filed bankruptcy in 2024.
As a part of the combination, former Sunnova CEO Paul Mathews can be becoming a member of SunStrong as Chief Income Officer, a brand new function established to drive development and efficiency. SunStrong may even retain key expertise, programs, and capabilities from Sunnova, additional strengthening its asset administration platform and creating new alternatives for growth.
“This transaction marks a major step ahead that preserves the very best of the platform, individuals, and buyer relationships which have been the center of the previous Sunnova,” stated Paul Mathews, SunStrong’s new Chief Income Officer. “We’re happy with the innovation we dropped at the residential photo voltaic and storage market, and I sit up for constructing upon SunStrong’s differentiated and main asset administration providers.”
Extra data 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].
