News Releases

Baker Botts Represents Sunnova Energy International Inc. in Securitization of Residential Solar and Battery 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 pricing of its fifth solar loan securitization and its eleventh residential solar securitization.

The securitization includes $68.4 million in AA- (sf) rated 2.03% notes, $55.9 million in A- (sf) rated 2.33% notes and $31.5 million in BBB- (sf) rated 2.63% notes with an Anticipated Repayment Date of October 20, 2028 and a final maturity of October 20, 2048.

The notes are backed by a diverse portfolio of 3,766 solar rooftop systems distributed across more than 21 states and territories. The transaction is expected to close by October 26, 2021, subject to customary closing conditions.

Baker Botts L.L.P. represented Sunnova in the transaction.

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

Baker Botts Lawyers/Office Involved:

Corporate/Finance: Travis Wofford (Partner, Houston); Martin Toulouse (Partner, New York); Josh Espinosa (Associate, Dallas); Malakeh Hijazi (Associate, Houston); Christopher Carreon (Associate, Houston); Bryson Manning (Associate, Houston); Francis Mascarenhas (Law Clerk, New York)

Tax: Michael Bresson (Partner, Houston); David Morris (Special Counsel, Palo Alto); Snow Xue Rui (Associate, Dallas)

ERISA: Krisa Benskin (Special Counsel, Houston)

Renewable Energy/Regulatory: Emil Barth (Partner, Washington)

Advisory Counsel: Danny David (Partner, Houston)

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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