Sunnova Energy falls after Trump cancels $2.9 billion partial loan guarantee
ReutersMay 29, 2025 10:27 AM
Shares of residential solar firm Sunnova Energy NOVA.N falls 11.4% to $0.19 premarket
Trump's administration on Wednesday canceled partial loan guarantee of $2.92 billion that had been awarded to NOVA
Loan guarantee was announced by former President Biden's administration in April 2023 to back financing for about 100,000 rooftop solar installations
NOVA had recently raised concerns about its ability to continue as going concern, hurt by higher costs and low demand in residential solar market
As of last close, shares down 93.6% YTD
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