Sunnova Energy hits record low after report company could consider bankruptcy

Sunnova Energy International

13/03/2025 14:58

Updates

** Solar firm Sunnova Energy's NOVA.N shares drop as much as 32% to record low of $0.25

** Company preparing restructuring talks with creditors that could include filing for bankruptcy, Wall Street Journal reports late Wednesday, citing sources

** Sunnova has debt of $8.46 billion as of December 31, 2024, according to LSEG data

     ** NOVA warned March 3 it had doubts about its ability to continue as a going concern, as current cash flow and existing financing agreements not enough to fund operations

** Going concern warning sent NOVA shares to an all-time low on March 3

** Company on Monday named Paul Mathews as president and CEO

** Stock down ~92% YTD

 (Reporting by Lisa Pauline Mattackal and Seher Dareen)

 ((LisaPauline.Mattackal@thomsonreuters.com))