News Releases

Baker Botts Represents Sunnova Energy International Inc. in $3 Billion U.S. Department of Energy Loan Guarantee Agreement to Expand Clean Energy Access


Deal Description: Baker Botts L.L.P., a leading international technology, energy, and life sciences law firm, represented Sunnova Energy International Inc. (“Sunnova”) (NYSE: NOVA), a leading Energy as a Service (EaaS) provider with customers across the United States and its territories, in connection with a $3.0 billion loan guarantee agreement between Sunnova and the U.S. Department of Energy (DOE) Loan Programs Office, which equates to a 90% guarantee of up to $3.3 billion of term loans, to support solar loans originated by Sunnova under a new solar loan channel named “Project Hestia.”

The DOE loan guarantee agreement will support the origination of Sunnova loans associated with solar, storage, or other Sunnova Adaptive Home™ technologies that utilize Sunnova’s purpose-built demand response and VPP-enabling software. Sunnova anticipates the DOE loan guarantee agreement will support over $5.0 billion in Sunnova loan originations, reduce the company’s weighted average cost of capital, and generate interest savings.

While execution of the loan guarantee agreement demonstrates the DOE’s intent to support the project, certain conditions must be satisfied before the DOE issues loan guarantees, including finalization of definitive financing documents.

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

Baker Botts Lawyers/Office Involved:

Corporate: Travis Wofford (Partner, Houston); Thomas Blackwell (Associate, Houston); Talha Chaudhry (Associate, Houston); Johnathan Walker (Associate, Houston); Peter Frintzilas (Associate, New York)

Finance: Jonathan Goldstein (Partner, New York); Frank Schoen (Partner, New York)

Tax: Michael Bresson (Partner, Houston)

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

Labor and Employment: Jennifer Trulock (Partner, Dallas)

Environmental: Elizabeth Singleton (Special Counsel, Houston)

Advisory: 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

Related Professionals