Sunnova Names Paul Mathews as President and Chief Executive Officer

Sunnova Energy International Inc. (“Sunnova” or the “Company”) (NYSE: NOVA), an industry-leading adaptive energy services company, today announced that Paul Mathews, formerly Chief Operating Officer, has been appointed President and Chief Executive Officer, effective immediately. Mr. Mathews succeeds William J. (John) Berger, who is stepping down as Chairman, President and CEO. Mr. Berger will remain as an advisor for a period of time to assist with the transition.

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Sunnova CEO Paul Mathews (Photo: Business Wire)

Mr. Mathews will focus on disciplined growth, stronger cash generation, cost efficiency, and enhancing the customer experience. These priorities align with the Company’s recently announced actions, including a $70 million cost reduction initiative, operational simplification to better serve its core high-margin customers, recent closing of a $185 million loan facility arranged by JPMorgan to enhance the Company’s liquidity, and developing plans to address Sunnova’s upcoming debt maturities. Additionally, Mr. Mathews will explore further opportunities to drive near-term stability and long-term success.

“Paul is an experienced operator, a disciplined cost manager, and a proven leader with a deep understanding of the customer experience,” said Sunnova Director Anne Slaughter Andrew. “At a time when the Company is executing a strategic repositioning for positive cash generation, we’ve asked Paul to be a change agent and deliver on the core needs of the business while creating value for our stakeholders. He brings an operational rigor and strategic mindset necessary to lead the Company for long-term success. We are confident he will succeed.”

"I am honored to step into this role and excited by the opportunities ahead of us,” said Mr. Mathews. “I have witnessed firsthand the dedication of our colleagues, loyalty of our dealers and partners, and trust of our customers. While we recognize the near-term challenges we face, I am committed to pursuing stability, driving a hard pivot to profitable growth, and strengthening the Company’s foundation for the future. I want to thank John for his vision, for building the Sunnova platform, and for establishing such a strong team. I am deeply grateful for the confidence he and the Board have placed in me to lead Sunnova into our next chapter."