HOUSTON, March 6, 2024 - Baker Botts L.L.P., a leading international energy, technology and life sciences law firm, announced that client Sunnova Energy International Inc. (“Sunnova”) (NYSE: NOVA), a leading U.S. residential solar and energy storage service provider, won the International Finance Review (IFR) North America ABS Issue of the Year Award for its $244 million Hestia I securitization.

Baker Botts represented Sunnova in the transaction.

IFR noted that, in addition to drawing new investors to the solar sector, Sunnova’s offering achieved several milestones for solar power projects in the structured finance market. “[I]t was the debut solar deal supported by the Department of Energy’s clean energy funding program, which has grown to a $400 billion mandate. It was also the first solar securitization to achieve a Triple A rating.”

IFR’s profile of the transaction can be found here.

Baker Botts Lawyers/Office Involved:

Corporate/Finance: Travis Wofford (Partner, Houston); Jonathan Goldstein (Partner, New York); Frank Schoen (Partner, New York); Lyman Paden (Senior Counsel, Houston); Thomas Blackwell (Associate, Houston); Talha Chaudhry (Associate, Houston); Mehta Ushma (Associate, Palo Alto); Johnathan Walker (Associate, Houston); Madeline McCune (Associate, Houston)

Tax: Michael Bresson (Partner, Houston); Peter Farrell (Special Counsel, Washington); Chuck Campbell (Special Counsel, Houston)

Renewable Energy/Regulatory: Emil Barth (Partner, Washington)

Advisory: Danny David (Partner, Houston)

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