Lenders Win Bid to Acquire Assets of Bankrupt Sunnova Energy

A group of Sunnova Energy’s lenders won a bid to purchase nearly all of the bankrupt solar firm for a $90 million loan credit, $25 million in cash, and the assumption of certain liabilities and facilities.

The lenders agreed to increase the cash portion from $10 million and include a “credit bid amount,” which covers the outstanding principal of a loan used to fund operations during bankruptcy, plus interest and fees, according to a notice filed Tuesday in the US Bankruptcy Court for the Southern District of Texas. It would cover $3 million in cure costs.

The purchase includes both ...