Hoku files for bankruptcy

Facebook
Twitter
LinkedIn
Reddit
Email

Honolulu based solar manufacturer Hoku has reportedly filed for bankruptcy.

The company has filed for Chapter 7 bankruptcy at a Pocatello federal court, with debts of approximately US$1 billion, according to the Idaho Statesman. A creditors meeting has been scheduled for 31 July 2013.

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

After investing in a US$700 million polysilicon plant in Idaho, Hoku was hit by falling polysilicon prices, which plummeted 60% in 2011. The company’s CEO Scott Paul resigned in June 2012 in order to oversee financial restructuring, and it voluntarily delisted itself from the NASDAQ stock exchange a month later.

Hoku, whose partners include leading names such as Jinko Solar and Suntech, ceased construction of its polysilicon plant in Idaho (run by subsidiary Hoku Materials) and laid off 100 employees in May 2012.

The plant is reportedly being managed by bankruptcy trustee R. Sam Hopkins and has been put on 24-hour security lockdown.

According to NASDAQ, Hoku stock is currently at $0.04 and $0.02 per share.

Read Next

September 12, 2025
Colombian energy supplier Celsia is seeking more than US$1.2 billion in investment to build wind and solar generation projects in Peru. 
September 12, 2025
German trade association BSW-Solar has called the German government for a simplified, standardised and more digitalised grid access for solar PV and energy storage operators.
September 12, 2025
ACME Venus Urja has secured INR3.8 billion (US$43 million) to develop and construct a solar-plus-storage project in Barmer, Rajasthan.
Premium
September 12, 2025
Vote Solar's Sean Garren tells PV Tech Premium that Georgia Power's latest IRP is 'skewed so heavily towards fossil fuels'.
September 11, 2025
Founder Group has won a RM10 million (US$2.3 million) engineering, procurement, construction and commissioning contract for a 30MW solar plant in Malaysia.
September 11, 2025
German renewable energy developer ib vogt has signed a 70MW solar PV virtual power purchase agreement (vPPA) in Romania.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK
Solar Media Events
October 7, 2025
Manila, Philippines