The UK head of Conergy’s UK and Ireland arm has said the company has emerged “much better than before” it filed for insolvency since securing the necessary investment to keep it afloat.
Robert Goss was speaking to PV Tech’s sister site Solar Power Portal at the solar Energy UK (SEUK) exhibition in Birmingham, England this week, where company staff sported t-shirts bearing the slogan “Conergy rebooted”.
Goss said it had been an “interesting time” since July when Conergy, previously involved in both manufacturing and PV engineering, procurement and construction, announced insolvency procedures.
The main company was kept afloat, but its module and mounting manufacturing arms sold. Employees were paid for 90 days during insolvency meetings, and Conergy is now a subsidiary of Kawa Capital Management, which has acquired Conergy’s sales operations.
Goss said SEUK was an “ideal opportunity” to be honest and “get information out” regarding the Conergy “reboot”.
Goss clarified that Conergy still has access to international stock from its previous manufacturing arms for interested parties, but does not own them anymore, and its previous PV modules and mounting systems will be sold under new owners.
Conergy will also still continue to purchase SMA and Power One inverters and global modules, under the Conergy name, and there had not been “not a major rebrand”, Goss said, as the Conergy brand “is bankable again.”
Goss explained further that until 4 July, investors could fund solar farms with Conergy with no problems, but afterwards, and up till 25 July, “no bank would touch it”.
But since Kawa has taken over Conergy’s sales, Goss said: “Now with a new owner [Conergy’s] better than before, we have no debt, we are more robust than before, and back into the EPC business.”
Conergy is now selling output warranties and other products, for the long term. “We’re in a better place – much better than before – and able to offer warranties for 20 to 25 years; Conergy will still be here,” continued Goss.
Now Conergy has “cash behind” it, Goss said it could now finance projects until they are complete, up to the testing phase, meaning there is “less risk, enabling Conergy to attract premium investors”, rather than the previous “risk-taking investors” who would invest in half-completed projects.
“Now we can jump to premium investors, with low risk projects; we have the experience and competence” Goss said.
Goss also said Conergy was hiring again – currently there are roughly 12 UK employees, a number which “will probably double” as Conergy “is looking to put in place a team to install 50-100MW per year in the UK”, Goss added.