Plans have been agreed at the aleo solar EGM for the company to wind down through a liquidation, with as much as €50 million (US$69.1 million) of support provided by parent company Robert Bosch in order to avoid bankruptcy proceedings.
The decision clears the way for SCP Solar the JV company established by Sunrise Global Solar Energy and Japanese manufacturing machinery producer, CHOSHU Industry to own and operate aleo solar’s module manufacturing plant in Germany, saving around 200 jobs.
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The aleo brand will be used by the JV, which will operate the plant under the name, AS Abwicklung und Solar-Service AG.
Aleo solar board member, York zu Putlitz, and in addition, Dr. Randolf Müller, Matthias Beck und Volker Voss were said to have been appointed as liquidators, substituting the aleo solar management board during the liquidation process.
