Securitization

Sunnova Energy has secured a $244 million securitization for its Hestia I solar project, which includes the development of 587MW of distributed generation energy resources (DERs) and associated software in Puerto Rico.

Sunnova Energy Corporation intends to offer a $400 million green bond to finance or refinance existing and new projects.

Sunrun, a provider of residential solar, storage and energy services, has priced a $715 million securitization of leases and power purchase agreements, known as Sunrun’s solar-as-a-service offering.

New York-based DSD Renewables (DSD) has raised $155 million in debt financing for its first commercial and industrial (C&I) solar-asset-backed securitization (ABS).

SolaREIT, a Maryland-based solar real estate investment fund, has closed a $100 million securitization of solar leases with Nuveen.

Rayburn Electric County Coop, a Texas-based electric generation and transmission cooperative that suffered massive losses due to winter storm Uri last February, has closed a $908 million securitization.

PNM, the New Mexico utility subsidiary of PNM Resources, has filed a notice of appeal with the New Mexico Supreme Court after the utility’s application to divest its interest in the Four Corners coal-fired power plant was denied by the New Mexico Public Regulation Commission (NMPRC).

Vivint Solar's former chief commercial officer and head of capital markets, Thomas Plagemann, has joined a Louisiana-based residential solar developer as its CFO.

Sunnova Energy has priced its fifth securitization backed by residential solar loans totaling $155.8 million.

Sunrun has increased the size and reduced the pricing of its non-recourse warehouse loan with a syndicate of eight financial institutions.