Norton Rose Fulbright advises GoodFinch and SunStrong in acquisition of Sunnova

Global law firm Norton Rose Fulbright advised GoodFinch Management, LLC (GoodFinch) and SunStrong Management, LLC (SunStrong) in connection with the acquisition of substantially all of Sunnova Energy International Inc.’s (Sunnova) assets and business operations, including the residual interests in a multi-billion dollar collection of ABS portfolios, as part of Sunnova’s Chapter 11 restructuring.

On July 31, 2025, the US Bankruptcy Court for the Southern District of Texas approved the sale of Sunnova’s assets and business operations to an Ad Hoc Group of Sunnova bondholders and certain affiliates or entities controlled by GoodFinch, who collectively provided Sunnova with US$90 million of debtor-in-possession financing. SunStrong will take over servicing of Sunnova’s solar assets, preserving full continuity of management and customer service for Sunnova’s customers.

The sale of Sunnova’s residential solar servicing, operations and maintenance platform and its solar generation and storage portfolio was made in exchange for a credit bid of the debtor-in-possession financing, US$25 million of cash consideration, and certain cure costs. The transaction is expected to close in August 2025.

This is the latest in a series of distressed solar asset acquisitions that the Norton Rose Fulbright team has completed, including multiple transactions in the SunPower Chapter 11 cases and an acquisition from the OYA Renewables Chapter 11 cases.

Norton Rose Fulbright’s team was led by Eric Daucher and included Kessar Nashat, Benjamin Roth, Anastasia Slivker, Patrick Mock, Patrick Narvaez, Emily Hong, Megan Musachio (New York), Arthur Kimball-Stanley (Austin), Geren Brown, George Khoukaz, Spencer Brown (Dallas), Julie Goodrich Harrison (Houston), Charles Johnson (Sao Paolo) and Michelle Meiselman (St. Louis).