April 9, 2024

CRC-IB Advises Sunnova on Tax Credit Financing for 157MW Residential Solar Portfolio

CRC-IB is pleased to announce the successful closure of the hybrid tax equity structure and the full placement of ITC transfer for Sunnova Energy International Inc.’s (NYSE: NOVA) latest project – a 157MW residential solar portfolio expected to power approximately 17,000 homes across 23 states and 3 U.S Territories upon commercial operation.

CRC-IB served as Sunnova’s exclusive financial advisor on the transaction, which includes a preferred equity investment from an asset management firm and the purchase of 100% ITC by a Fortune 500 company.

“As the market evolves, Sunnova remains at the forefront of innovation and optimization for its clients and stakeholders,” said Conor McKenna, CRC-IB Partner and senior Managing Director. “CRC-IB is proud to facilitate collaborative partnerships and successful financing outcomes for a market leader like Sunnova.”