Trump Administration Cancels $3 Billion Loan to Troubled Sunnova Energy
- Solar developer told officials it wouldn’t tap into facility
- Sunnova has been laying groundwork for a bankruptcy filing
The Trump Administration terminated a $3 billion loan guarantee awarded to Sunnova Energy Intentional Inc. after the solar company told officials it no longer intended to tap into the facility.
The US Department of Energy canceled the loan obligation Friday, according to Sunnova. The company had used about $371 million of the government loan guarantee, part of billions of dollars of financing offered by the Biden Administration to accelerate the deployment of clean energy and combat climate change.