Struggling Swiss solar manufacturer Meyer Burger has formally entered into a debt moratorium, with the possibility of rescuing the entire group now looking unlikely.
The company has been unable to find an investor for the entire group of companies – which includes the parent company Meyer Burger Technology and its two subsidiaries Meyer Burger Switzerland and Meyer Burger Research. Meyer Burger had begun a merger and acquisition process at the beginning of this year.
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The company said it would continue its efforts to sell parts of the group and/or assets of the various companies in Switzerland, Germany and the US. It has emerged that some of its cell and module production equipment has been approved for sale to the US subsidiary of the Indian manufacturer Waaree.
Under these circumstances, the board of directors for the parent company forecasts that “there is no longer any realistic chance of rescuing the entire group of companies, including the parent company”.
The aim of the parent company is to conclude a composition agreement, ruling out the possibility of paying a liquidation dividend to shareholders. A composition agreement is a legally binding contract between a debtor and multiple creditors where the creditors agree to accept less than the full amount owed as settlement for outstanding debts.
The company cited the competitive environment from low-priced Chinese module imports and the uncertainties “regarding the future promotion of renewable energies” in both the US and Europe for its demise.
Insolvency proceedings had already been initiated earlier this year for the various German companies, including its solar cell facility in Talheim (Premium access) and for the development and mechanical engineering site in Hohenstein-Ernstthal.
Nearly 600 employees at the German sites have been laid off and given notice, except for a liquidation team, while the remaining 45 employees in Switzerland have also recently received notice.
Sale of US equipment and machinery to Waaree Solar Americas
The company revealed in a statement today that on 5 September 2025, it received approval from the competent US court to sell its cell and module production machinery and equipment to Waaree Solar Americas, the US subsidiary of the Indian module producer, and Babacomari Solar North, respectively, for a total of nearly US$29 million.
This agreement comes a few months after the company had ceased production at its module assembly plant in Arizona and laid off its US team in May. Soon after shutting down the Arizona module plant, the company’s US subsidiaries filed for Chapter 11 Bankruptcy Code in June of this year.
Meyer Burger’s financial struggles increased last year when the company delayed its financial results for the first half of the year, as it reported falling sales figures in the preliminary results. The results ended up showing a fivefold increase in net losses during H1 2024. The company’s woes grew further in November 2024, when developer D. E. Shaw Renewable Investments (DESRI) terminated an up to 5GW module supply agreement in the US.
