Sunnova’s Unsecured Creditors Oppose Releasing KKR Over Loan
Workers install solar panels during an installation at a home in San Francisco.
Photographer: Michaela Vatcheva/BloombergA group of Sunnova Energy’s unsecured creditors voiced opposition to the final approval of a debtor-in-possession facility, including a proposed legal release for pre-petition lender KKR & Co.
The proposed $90 million DIP lending — which would fund bankruptcy proceedings and business operations — requires the solar company to agree to give up its right to pursue claims against KKR, according to court papers. The initial portion the loan has been approved.