Dresden Court ratifies Solarwatt restructuring plan

Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on email

Billionaire Stefan Quandt’s appearance at Solarwatt may have been timely. Since the restructuring plan developed by the management of Solarwatt and ratified by Dresden Municipal Court on September 11, 2012, is now legally valid, Dresden Municipal Court has repealed the insolvency proceedings that had been hanging over the company.

Earlier this year PV-Tech reported how Stefan Quandt, BMW board member and one of the richest people in the world, according to the Forbes list of billionaires, became the majority owner of German-based PV module manufacturer, Solarwatt, which had been in insolvency proceedings since mid-June.  it is thought Quandt's presence and financial backing may have played a pivotal role in securing the company's future.

The relief was evident from CEO of Solarwatt Detlef Neuhaus’ statement: “With the repeal of the insolvency proceedings, the company has successfully overcome the biggest challenge in its almost 20-year history and is now active again on the market as a completely restructured company. Now we can get back to concentrating 100% on our business. Despite everything, the market environment remains extremely demanding.

“However, with our focus on comprehensive and decentralized photovoltaic system solutions we can continue to be successful on the market sustainably and above all without any subsidies.”

Rainer Bähr, the creditors’ trustee during the proceedings, added, “Thanks to the commitment and cooperation of the employees and creditors, Solarwatt is now back on solid foundations.”

The restructuring will involve a board reshuffle, with the departure of Dr. Frank Schneider and Dr. Ulrich Link, effective December 31, 2012. Their duties will be adopted by Detlef Neuhaus, Carsten Bovenschen (CFO), and the respective heads of department.

Solarwatt will also be heading downstream, moving from module manufacturing to solar systems manufacturing, with plans to launch new products for the systems sector.

Neuhaus explained, “All the signs are pointing to continued large increases in energy prices in the future. With our system solutions, consumers can supply themselves with energy independently and decentrally, making it possible for them to become more independent of energy providers and to save costs. A 25-year warranty ensures that the investment also pays off for our customers.”

The company has also announced the implementation of reduced working hours, having already lost 98 out of a 435 strong work force. The reduced working hours will initially be available for the next six months as an instrument for regulating working capacity – the application of the option will be decided on a week-by-week basis based on the current job volume.

The reduced working hours will only affect the production and manufacturing of the solar modules; the development and production activities concerning Solarwatt system solutions will continue unchanged as a high priority.


28 September 2021
Solar Solutions International is the largest trade show for solar energy in Northwest Europe. Now the solar market has grown up, it's time for the next step. Solar Solutions International displays more than 500 innovations and over 100 practical seminars concerning the latest in energy storage, smart products, and an ever evolving array of solar panels. As an exclusively B2B trade show, Solar Solutions International offers both exhibitors and visitors the chance to network at the highest level. Duurzaam Verwarmd, the largest trade show for sustainable HVAC technology in the Benelux, is held simultaneously. This way your one visit gets you up to date with all of the developments in both sustainable energy and heating.
6 October 2021
Intersolar Europe is the world’s leading exhibition for the solar industry. It takes place as part of The smarter E Europe – the continent’s largest platform for the energy industry. Under the motto “Connecting solar business,” manufacturers, suppliers, distributors, service providers and project planners and developers from around the world meet in Munich every year to discuss the latest developments and trends, explore innovations firsthand and meet potential new customers.
6 October 2021
The future is bright for a new era of US solar and storage, and the 8th annual Solar & Storage Finance Summit will provide opportunities to discuss solutions to the industry’s challenges and provide a networking platform designed to bring together the top minds in the industry to do business. With a mix of high-level, informative presentations and panels, a stellar cast of speakers and audience members with deal-making capacity, the 2021 edition of the event will be a sell-out success.
6 October 2021
Join this free webinar to hear Martin Green, Scientia Professor, University of New South Wales explain the physical and technological limits for PERC cells and the potential efficiency advantages of TOPCon, HJT and IBC: - How much further can PERC efficiency be pushed? Has it run out of puff or is it just getting started? - The relative merits of TOPCon, HJT and IBC cell variants - The manufacturing technologies that need to be optimised for each of these cell variants (This is the keynote presentation from PV CellTech Online, 25th August 2021)
18 October 2021
Intersolar South America, South America’s largest exhibition and conference for the solar industry, takes place at the Expo Center Norte in São Paulo, Brazil on October 18–20, 2021, and has a focus on the areas of photovoltaics, PV production and solar thermal technologies. At the accompanying Intersolar South America Conference, renowned experts shed light on hot topics in the solar industry.
19 October 2021
This year’s EV World Congress will hold a special role, not only as the first live EverythingEV event in over a year – a chance to renew your connections and re-engage with the EV sector face to face – but also as a chance to share insight and inspiration as world starts to look towards move on post COVID towards hitting ambitious decarbonisation goals in 2030 and beyond. As ever, we will be bringing world leading organisations, cities, and technology providers to the UK to inspire EV innovators, and delve into the challenges facing the sector as the UK looks to revolutionise road transport.

Read Next

September 28, 2021
Renewables developer and asset manager RES has secured planning permission for a 65.5MW floating solar project that will be installed at a former quarry in northeastern France.
September 28, 2021
Investment manager Quinbrook Infrastructure Partners has acquired a 350MW solar-plus-storage site expected to be the largest single site PV install in the UK once completed.
September 28, 2021
Oil and gas company Chariot has signed a memorandum of understanding with the government of Mauritania to progress with a solar- and wind-powered green hydrogen complex in the country.
PV Tech Premium
September 28, 2021
Toni Weigl, head of product management for floating PV at BayWa r.e., explores the current trends for designing and developing floating solar projects and poses the question, where next for floating PV?
September 28, 2021
The Australian Renewable Energy Agency (ARENA) has launched an AU$50 million (US$36 million) programme to support microgrid pilot projects and improve the reliability of electricity supply across regional Australia.
September 28, 2021
Indian solar manufacturer Premier Energies has secured an INR 2 billion (US$27 million) investment from private equity firm GEF Capital Partners to support its planned increases in cell and module production.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 6, 2021
Solar Media Events, Upcoming Webinars
October 6, 2021
Solar Media Events
October 19, 2021
Solar Media Events
December 1, 2021