While homeowners are increasingly financing the installation of solar panels through loans, Sunnova Energy Corp. of Houston still gives its customers the option of leasing photovoltaic systems or entering into power purchase agreements.

The provider is now tapping the securitization market for the first time. On Monday, it launched an offering of $245.75 million of notes backed by leases and PPAs. Three classes of notes will be issued in the transaction, dubbed Helios Issuer LLC 2017-1.

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