Sunnova Energy International Inc. Announces Minimal Exposure to Silicon Valley Bank By Investing.com

Sunnova Energy International (NYSE:) Inc. (“Sunnova”) (NOVA), one of the leading Energy as a Service (EaaS) providers, is aware of the recent media reports surrounding Silicon Valley Bank (“SVB”) and questions that investors may have as a result.

Sunnova considers its exposure to SVB as immaterial. Sunnova does not hold cash deposits or securities with SVB and does not utilize SVB for any treasury management services. One of Sunnova’s subsidiaries is party to a credit facility (the “Back-Leverage Facility”) in which SVB participates as a lender. SVB currently has $15 million in unfunded commitments under the Back-Leverage Facility. The Back-Leverage Facility is one of three current warehouse facilities entered into by subsidiaries of Sunnova with current cumulative commitment amounts of $1.35 billion.