Sunnova Energy Corporation’s $100 Million Equity Financing Investment with Quantum Strategic Partners


Baker Botts Represents Sunnova Energy Corporation on the transaction

Sunnova Energy Corporation, the leading privately held U.S. residential solar + battery storage service provider, has closed a $100 million equity investment with Quantum Strategic Partners Ltd. (“QSP”), a private investment vehicle advised by Soros Fund Management LLC that focuses on long-duration investments globally.

Since its inception in 2012, Sunnova has raised over $2.5 billion through a diverse range of funding sources, including tax equity, debt and corporate equity, from institutional investors, private equity firms and major Wall Street banks.

Founded in 2012 and headquartered in Houston, Texas, Sunnova is the leading U.S. residential solar + battery storage service provider. With nearly 60,000 customers across the U.S and its territories, including Guam, Puerto Rico and the Northern Mariana Islands, Sunnova uniquely provides a 25-year service commitment with every homeowner’s customized solar + storage system. Sunnova’s goal is to provide the choice of low-cost, worry-free solar energy and battery storage technology that generates long-term value and savings for customers and facilitates continued business growth for its network of trusted partners.

Quantum Strategic Partners Ltd. (“QSP”) is a private investment vehicle that pursues investments globally in a variety of industries and across strategies, including buyouts, growth equity transactions and structured investments. The investment advisor to QSP is Soros Fund Management LLC, a private investment management firm that serves as the principal investment advisor to a number of private investment funds that are managed exclusively for Soros family clients.

Baker Botts L.L.P. advised Sunnova in the transaction with a team including Travis Wofford (Picture), Josh Davidson, Sarah Dodson, Jennifer Gasser, Bill Pritchett, Mitch Athey (M&A), Martin Toulouse, Jon Finelli, Peter Glenn (Banking & Finance), Mike Bresson, Jon Nelsen, David Morris (Tax), Rob Fowler, Stephanie Jeane (Employee Benefits) and Danny David (Advisory).

Involved fees earner: Travis Wofford – Baker Botts; Joshua Davidson – Baker Botts; Sarah Dodson – Baker Botts; Jennifer Gasser – Baker Botts; Bill Pritchett – Baker Botts; Mitch Athey – Baker Botts; Martin Toulouse – Baker Botts; Jon Finelli – Baker Botts; Peter Glenn – Baker Botts; Michael Bresson – Baker Botts; Jon Nelsen – Baker Botts; David Morris – Baker Botts; Rob Fowler – Baker Botts; Stephanie Jeane – Baker Botts; Danny David – Baker Botts;

Law Firms: Baker Botts;

Clients: Sunnova Energy Corporation;

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Author: Ambrogio Visconti