Sunnova Energy International Stock Price, News & Analysis

Sunnova Energy International (NYSE: NOVA) reported that it supplied nearly 2 GWh of energy to over 30,000 customers in Puerto Rico during Hurricane Fiona's aftermath, from September 18 to October 1, 2022. The solar and battery storage systems provided 3.4 million hours of backup power, averaging 128 hours per household. Sunnova has invested over $1 billion in the region since 2013 and maintains the largest residential solar presence. The company aims to enhance grid resiliency through distributed power models, with a strong commitment to delivering reliable energy solutions.

Sunnova Energy International Inc. (NYSE: NOVA) announced its plan to deploy energy through aggregated Adaptive Homes in Northern California, partnering with Pacific Gas and Electric Company (PG&E) to support grid resilience and defer costly infrastructure upgrades. By utilizing virtual power plant capabilities, Sunnova aims to ease peak capacity demands in low to moderate income communities. The effort aligns with PG&E's Distribution Resource Plan, which highlights the need for increased capacity during limited peak hours. This initiative marks a significant step in promoting clean energy and enhancing homeowner resilience.

Sunnova Energy International Inc. (NYSE: NOVA) will announce its third quarter 2022 results after market close on October 26, 2022. A conference call is scheduled for 8:00 a.m. Eastern Time on October 27, 2022, where executives will discuss the results. Investors can join the call by dialing 844-200-6205 or accessing the webcast via the Investor Relations section of Sunnova’s website.

Sunnova aims to provide clean, affordable energy across the U.S., emphasizing energy independence for homeowners.

Sunnova Energy International Inc. (NYSE: NOVA) has announced the establishment of a new Business Markets division to serve the commercial solar segment. This expansion targets commercial, industrial, and agricultural sectors, aiming to provide sustainable energy solutions and budget certainty amid rising utility rates. The initiative is bolstered by the Inflation Reduction Act, which is projected to increase commercial solar deployments by 20% over the next five years. Sunnova plans to utilize its dealer network for rapid market entry and will offer flexible financing options and a 25-year service guarantee, enhancing energy reliability for businesses.

Sunnova Energy International (NYSE: NOVA) announced its application to the California Public Utilities Commission to establish a solar and storage-focused micro-utility in California through a new subsidiary, Sunnova Community Microgrids California, LLC. This initiative aims to create self-sustaining micro-utilities that enhance energy resilience and reliability in communities. The application also seeks to qualify as the first solar and storage micro-utility in the state, allowing for local renewable energy generation and distribution. The move aligns with recent incentives from the Inflation Reduction Act.

Sunnova Energy International Inc. (NYSE: NOVA) announced the pricing of $500 million in senior unsecured convertible notes at 2.625% interest, maturing February 15, 2028. The offering includes an option for initial purchasers to buy up to an additional $100 million. Net proceeds are estimated at $487.1 million, primarily for corporate purposes. The conversion rate is 29.2039 shares per $1,000 of notes, with an initial conversion price of approximately $34.24 per share. The sale is expected to close on August 19, 2022, subject to customary conditions.

Sunnova Energy International Inc. (NYSE: NOVA) plans to offer $425 million in convertible senior notes due 2028, with an additional $75 million option for initial purchasers. The notes will be unsecured obligations and bear semiannual interest, maturing on February 15, 2028. Proceeds will fund capped call transactions and general corporate needs, including working capital and debt repayment. The offering aims to mitigate potential dilution from note conversions and will activate hedging strategies that may influence stock price. The notes will not be registered under the Securities Act.

Sunnova Energy International (NYSE: NOVA) reported second quarter 2022 results, highlighting a customer increase of 17,300, totaling 225,000. Revenue surged to $147 million, a year-over-year rise of $80.5 million, driven by more solar systems and inventory sales. Despite a net loss of $9.7 million, lower than the previous year's $66.3 million, adjusted EBITDA rose to $39.7 million. The company reaffirmed its full-year guidance, targeting 85,000-89,000 customer additions. As of June 30, 2022, cash reserves stood at $364 million, with substantial tax equity commitments available.

Sunnova Energy International Inc. (NYSE: NOVA) announced the availability of its Sunnova SunSafe^® solar + battery storage service at all Home Depot stores in Puerto Rico. This initiative aims to help residents manage energy costs and improve power reliability during outages. Since 2013, Sunnova has become the largest provider of distributed residential solar power in Puerto Rico, serving over 30,000 customers and deploying over 17,000 batteries. Customers will benefit from a 25-year maintenance guarantee with Sunnova Protect^®.