News Releases

Baker Botts Represents Sunnova Energy International Inc. in $1 Billion Revolving Solar Loan Warehouse Credit Facility


Deal Description: On August 2, 2023, a wholly-owned subsidiary of Sunnova Energy International Inc. (“Sunnova”) (NYSE: NOVA) amended, restated and upsized an existing revolving warehouse credit facility for residential solar loan agreements (the “SLA Credit Facility”) with Atlas Securitized Products Holdings, L.P., as administrative agent, and a syndicate of lenders. The SLA Credit Facility provides for an aggregate commitment amount of $875 million and an uncommitted maximum facility amount of $1 billion.

The SLA Credit Facility supports Sunnova’s continued development of distributed generation residential solar projects in the United States and its territories by providing financing to the borrower under the SLA Credit Facility for its purchase of solar loans (which are originated by Sunnova Energy Corporation) and related solar assets from affiliates of Sunnova.

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

Sunnova is a leading Energy as a Service (EaaS) provider with customers across the United States and its territories.

Client: Sunnova Energy International Inc.

Value: $1 billion

Baker Botts Lawyers/Offices Involved:

Finance: Frank X. Schoen (Partner, New York); Caitlin Lawrence (Partner, Houston); John Papaspanos (Partner, New York); Jonathan Goldstein (Partner, New York); Lyman Paden (Special Counsel, Houston); Kanwal Majeed (Senior Associate, London); Nikolai Gryzunov (Associate, New York); Chelsea Johnson (Associate, Houston); Sarah Dyer (Associate, Houston); Erica Hudson (Associate, New York); Peter Frintzilas (Law Clerk, New York); Eleana Kartali (Law Clerk, New York)

Tax: Michael Bresson (Partner, Houston); Peter Farrell (Special Counsel, Houston)

ERISA: Robin Melman (Partner, New York)

Advisory: Danny David (Partner, Houston)

Baker Botts Staff/Offices Involved:

Denna Smith (Senior Paralegal, New York)
Robert Caine (Senior Paralegal, 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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