Solar cell manufacturer Blue Chip Energy has filed for insolvency. The company informed a court in Eisenstadt about its financial state on Thursday and production was abandoned with immediate effect.
Blue Chip has attributed the current economic climate and the accompanying dip in module demand as the reason behind the company’s financial plight. Despite 11th hour bailout talks with a number of banks, the Güssling-based manufacturer was unable to find a solution.
This article requires Premium SubscriptionBasic (FREE) Subscription
Already a subscriber? Sign In
Try Premium for just $1
- Full premium access for the first month at only $1
- Converts to an annual rate after 30 days unless cancelled
- Cancel anytime during the trial period
Premium Benefits
- Expert industry analysis and interviews
- Digital access to PV Tech Power journal
- Exclusive event discounts
Or get the full Premium subscription right away
Or continue reading this article for free
PV giant Solon holds an 18.28% stake in the company, which it acquired in 2006 to help equip its project pipeline. However, with Blue Chip’s demise now all but secured, Solon is faced with a valuation allowance totalling €18 million.
