centrotherm hit by €11 million claim for damages after losing arbitration case

August 4, 2017
Facebook
Twitter
LinkedIn
Reddit
Email

Specialist solar PV equipment supplier centrotherm has warned that it is unlikely to be profitable in 2017, due to the loss of an arbitration case against a cancelled €290 million integrated (wafer/cell/module) plant in Algeria. 

Back in June 2014, centrotherm announced a previously planned integrated production facility for energy producer, CEEG, a subsidiary of Algerian state utility Société Nationale de L'Electricité et du Gaz (Sonelgaz) had cancelled the project, which centrotherm and facilities engineering firm, Kinetics Germany had won the contract to build. 

This article requires Premium SubscriptionBasic (FREE) Subscription

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

The project suppliers sued CEEG and the case was recently heard at the International Court of Arbitration (ICC) in Geneva that led to total claims for damages from CEEG, including arbitration and legal costs of approximately €11 million.

According to centrotherm’s 2016 annual report, the company allocated around €3.1 million to the possible negative outcome of the arbitration. 

centrotherm noted in its profit warning that it was evaluating the financial impact of the CEEG award.

Read Next

October 28, 2025
GoldenPeaks Capital secures EUR114 million (US$132 million) financing package for two solar PV Portfolio in Poland.
October 27, 2025
Waaree Energies has secured four solar module supply contracts totalling 692MW – three for projects in India and one in the US through its subsidiary.
October 27, 2025
Premier Energies has acquired a 51% stake each in transformer maker Transcon and inverter producer KSolare Energy. 
October 27, 2025
US solar technology company Swift Solar has deployed perovskite solar technology as part of a Department of Defence cyber warfare exercise in the state of Virginia.
October 23, 2025
US solar manufacturer T1 Energy sold approximately 725MW of solar modules in Q3 2025, as it continues to expand US manufacturing capabilities.
Sponsored
October 22, 2025
LONGi vice president Dennis She discusses the value logic behind the company's strategic focus on back contact technology.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
November 12, 2025
10am PST / 1pm EST
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK
Solar Media Events
March 10, 2026
Frankfurt, Germany