Sunnova Energy gains on plan to halve workforce

Sunnova Energy International

06/06/2025 15:40

** Shares of residential solar firm Sunnova Energy NOVA.N rise 6.2% to 21 cents

** Company to cut about 55% of its workforce, or 718 employees, in a bid to slash costs amid huge debt pile and sluggish demand

** Unit Sunnova TEP Developer also filed for Chapter 11 bankruptcy protection in the U.S.

** Including session's moves, NOVA down 93.8% YTD

 (Reporting by Sumit Saha in Bengaluru)

 ((Sumit.Saha@thomsonreuters.com;))