© 2015 The Texas Lawbook.
By Natalie Posgate
(March 24) – Lawyers from Baker Botts said Wednesday that they helped Sunnova Energy Corporation, a Houston-based power company, secure a $300 million equity commitment from Energy Capital Partners this week.
ECP’s investment will help Sunnova continue its growth in the residential solar market. Founded in 2012, Sunnova partners with local installers to invest in assets to provide affordable rooftop solar service to homeowners while creating job opportunities nationwide.
Houston senior associate Travis Wofford led the Baker Botts corporate deal team for Sunnova, which also included partner Josh Davidson and associates Sarah Dodson and Jennifer Gasser.
Houston and Austin partners Michael Bresson and Jon Nelsen and Dallas associate Bucky Brannen handled tax matters. Houston partner Rob Fowler took care of employee benefits issues. Attorneys from the firm’s Washington, D.C. office also advised on corporate and employee benefits matters.
Sunnova’s general counsel is George Fibbe, who joined the company after serving as head of litigation for the petroleum division of BHP Billiton. Before going the in-house route, Fibbe was a partner at Yetter Coleman in Houston.
Latham & Watkins advised ECP, an energy-focused private equity firm with more than $13 billion in capital commitments. The Latham deal team was based in New York.
ECP joins existing investors Triangle Peak Partners and Franklin Square Partners, which is sub-advised by GSO Capital Partners.
Barclays Capital served as Sunnova’s financial advisor and placement agent in the investment.
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