Sunnova has announced that Omnidian Can buy the residential solar service and R&M platform from the company for $ 7 million in cash. Sunnova submitted bankruptcy in June and mentioned the total assets and liabilities at more than $ 10 billion.
Omnidian, a provider of residential and commercial Solar + Storage Performance Plan, has a “stalking horse” purchase agreement with Sunnova for his service arm, which means that Omnidian gets the first choice as a buyer. Omnidian would take responsibility for the obligations of customer service and system management for a significant part of the customers in Sunnova.
Sunnova continues to ask for bids about the rest of her company, with a deadline of 21 July. Stakeholders can find additional information about the bankruptcy process of Sunnova, Chapter 11 here And here.
Sunnova usually worked as a residential solar and storage system integrator in the United States. The company works together with local solar installation companies to offer customers solar energy through third parties ownership (TPO) contracts. Customers lease their solar projects from Sunnova.
Sunnova fired around 55% of his workforce on 30 May before applying for bankruptcy in Texas Courts at the beginning of June. Financing provider Mosaic also presented bankruptcy around the same time, after the trend of those on the TPO market for solar energy that are confronted with considerable unrest.
Despite the difficulties, the TPO market achieved a victory with the OBBB passage. Although residential solar systems from homeowner at the end of this year lose the investment tax credit (25d), residential leasing companies can still receive the ITC via SEC. 48th.
