Sunnova subsidiary files Chapter 11; Sunnova cuts 718 employees (55% of workforce)

Sunnova Energy International Inc.

Sunnova subsidiary TEPD Developer filed Chapter 11 on June 1, 2025, triggering default and acceleration under two indentures.
Company approved reduction in force of ~718 employees (55% of workforce), effective May 30, 2025.
Reduction in Force aims to cut operating expenses and preserve stakeholder value; cost estimates not yet determined.
Clarification: Interim CFO Robyn Liska remains in role; severance agreement disclosed earlier was customary and includes no non-compete.

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