Sunnova Unit Files for Bankruptcy as Troubles Mount (Correct)

A subsidiary of Sunnova Energy International Inc. filed for bankruptcy in Texas, as the parent has been struggling to convince creditors to give it funding to turn around its business in an out-of-court process.

Houston-based Sunnova TEP Developer LLC sought Chapter 11 protection on June 1, documents in the US Bankruptcy Court for the Southern District of Texas show. The company listed assets of $100 million to $500 million and liabilities in the same range in its petition.

Sunnova Energy was laying the groundwork for a bankruptcy filing that could happen within the coming weeks, Bloomberg reported in late May. ...