Sunnova Raises $170M in First US Solar IPO in Years

Shares of residential solar company Sunnova ended their first day of trading on Thursday at $11.25, below their initial price of $12 and well south of a range of $16 to $18 put forward in mid-July.

Texas-based Sunnova raised about $170 million, with shares inching upward to $11.60 on Friday morning.

Sunnova CEO John Berger told Greentech Media that while the lowered IPO price was “not something we necessarily wanted to see,” the decline is in line with initial public offerings of other solar companies.

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