Sunnova Energy is evaluating financial options due to bankruptcy risk, according to WSJ.

Sunnova Energy International shares fell 16% in pre-market trading following a report by The Wall Street Journal indicating that the company is exploring various options, including a potential bankruptcy filing. The stock is trading around 31 cents, having lost 91% of its value over the past year.

According to the report, the rooftop solar energy company is preparing to engage with creditors to discuss options due to its approximately $8.5 billion in debt. The company is compiling financial data and may soon begin negotiations with lenders and bondholders to explore possible avenues for reducing debt and addressing impending maturities. These discussions could take place either in or out of bankruptcy court.