Sunnova Energy falls after Trump cancels $2.9 billion partial loan guarantee

Sunnova Energy International

29/05/2025 11:27

** Shares of residential solar firm Sunnova Energy NOVA.N falls 11.4% to $0.19 premarket

** Trump's administration on Wednesday canceled partial loan guarantee of $2.92 billion that had been awarded to NOVA

**  Loan guarantee was announced by former President Biden's administration in April 2023 to back financing for about 100,000 rooftop solar installations

** NOVA had recently raised concerns about its ability to continue as going concern, hurt by higher costs and low demand in residential solar market

** As of last close, shares down 93.6% YTD

 (Reporting by Katha Kalia in Bengaluru)

 ((Katha.Kalia@thomsonreuters.com))