Green Energy Company Failing Without Gov’t Life Support
Shares of the Biden administration-backed Sunnova Energy International Inc. plummeted over 50% after the green energy company announced substantial doubt that it can stay in business on Monday. Barron’s reported that…
Shares of the Biden administration-backed Sunnova Energy International Inc. plummeted over 50% after the green Energy company announced substantial doubt that it can stay in business on Monday.
Barron’s reported that the company’s stock crashed by 64%, down to 60 cents per share, after Sunnova wrote in a statement that its “unrestricted cash, cash flows from operating activities and availability and commitments under existing financing agreements are not sufficient to meet obligations and fund operations.”
Sunnova also announced that “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 Houston-based company is known for providing several Energy services, including solar panels and EV chargers. The company marketed renewable Energy