Solar Company That Received $3 Billion Biden Loan Warns It Might Go Bankrupt – Sunnova Energy received largest federal loan to a solar company in history
By Marc Morano
March 4, 2025
4:57 pm
Solar Company That Received $3 Billion Biden Loan Warns It Might Go Bankrupt
By Alana Goodman
A politically connected solar company says it has “substantial doubt” it can stay in business, a little over a year after obtaining a $3 billion loan from the Biden administration.
Sunnova Energy said on Monday that its current finances are “not sufficient to meet obligations and fund operations for a period of at least one year from the date we issue our consolidated financial statements without implementing additional measures.”
“Therefore, substantial doubt exists regarding our ability to continue as a going concern for a period of at least one year from the date we issue our consolidated financial statements,” the company said in a statement on Monday.
Sunnova’s stock plunged over 70 percent following its announcement, according to Bloomberg.
https://www.climatedepot.com/2025/03/04/solar-company-that-received-3-billion-biden-loan-warns-it-might-go-bankrupt-sunnova-energy-received-largest-federal-loan-to-a-solar-company-in-history/
