News Releases

Baker Botts Represents Sunnova Energy International Inc. in Securitization of Residential Solar Loan Agreements


Deal Description: Sunnova Energy International Inc. (“Sunnova”) (NYSE: NOVA), a leading U.S. residential solar and energy storage service provider, announced today the closing of its second solar-loan securitization and sixth residential solar securitization overall. 

The two-tranche securitization includes $135.85 million in A- (sf) rated 2.98% notes and $22.64 million in subordinated BB- (sf) rated 7.25% notes. The notes are backed by a diverse portfolio of over 5,000 solar loans distributed across 17 states and territories including Puerto Rico and the Commonwealth of the Northern Mariana Islands. 

Baker Botts L.L.P. represented Sunnova in this transaction and each of Sunnova’s prior securitizations.

Baker Botts Lawyers/Office Involved:

Corporate/Finance: Travis Wofford (Partner, Houston); Martin Toulouse (Partner, New York); Sarah Dodson (Senior Associate, Houston); Jennifer Gasser (Associate, Houston); Josh Espinosa (Associate, Dallas); Gita Pathak (Associate, Houston); Catherine Ellis (Associate, Houston)

Tax: Michael Bresson (Partner, Houston); Renn Neilson (Partner, Houston); Jon Nelsen (Partner, Austin); David Morris (Senior Associate, Palo Alto); Bucky Brannen (Associate, Dallas);  Dominick Constantino (Associate, Houston)

ERISA: Krisa Benskin (Special Counsel, Houston);

Renewable Energy Regulatory: Emil Barth (Special Counsel, Washington)

Advisory Counsel: Emanuel Grillo (Partner, New York); Danny David (Partner, Houston)

For more information, please see Sunnova’s news release here.

Baker Botts is an international law firm whose lawyers practice throughout a network of offices around the globe. Based on our experience and knowledge of our clients' industries, we are recognized as a leading firm in the energy, technology and life sciences sectors. Since 1840, we have provided creative and effective legal solutions for our clients while demonstrating an unrelenting commitment to excellence. For more information, please visit

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