Nov 12 (Reuters) - Sunnova Energy ( NOVAQ ) said on
Wednesday a U.S. bankruptcy court has confirmed its Chapter 11
plan, after the sale of most of its assets to Solaris Assets.
The company had filed for Chapter 11 bankruptcy protection
in June, as the residential solar panel installer was pressured
by mounting debt and weakening demand.
The approval by the Bankruptcy Court for the Southern
District of Texas follows the previously approved sale of
substantially all of Sunnova's assets and business operations to
Solaris Assets.
Under the confirmed plan, a creditor trustee will be
appointed to distribute the sale proceeds to creditors and
manage the closure of the company's remaining operations.