New Conergy CEO mulling IPO - report

Facebook
Twitter
LinkedIn
Reddit
Email

International solar developer, Conergy, has announced a reshuffled management team and revealed that it plans to go public within the next one to two years.

One and a half years after being rescued from insolvency by private equity group Kawa Capital Management, Conergy has named former chairman, Andrew De Pass, as its new chief executive, backed by a new-look senior management team.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

De Pass wasted no time in outlining his vision for Conergy, revealing in a debut interview with the Financial Times newspaper today that the company is preparing for an initial public offering within the next 12 to 24 months after returning to profitability.

“The market wants an alternative to SunEdison and we are that alternative,” he told the FT in reference to US developer SunEdison, which has been on an aggressive international project drive since floating its yield-co project vehicle, TerraForm Power, last year. That process and the acquisition of the wind power developer, First Wind, has made SunEdison the world’s largest renewable energy developer.

The IPO would cap a dramatic return to form for Conergy since Kawa acquired the company 2013, sold off its loss-making manufacturing elements and refocused it as an exclusively downstream PV player.

Conergy said it installed 300MW of PV capacity last year, and expects to build half as much again – 450MW – in 2015. Last year also saw it return to profitability, with revenue of US$500 million and a profit of less than US$10 million.

With interests in around 12 markets worldwide now, De Pass told the FT Conergy would look expand its global footprint further, with Latin America, Turkey and parts of Africa among target markets.

PV Tech is seeking further comment from Conergy.

Read Next

July 4, 2025
Chinese PV provider Skycorp Solar Group has announced a solar plant acquisition and development strategy following unanimous board approval.
July 4, 2025
Germany’s latest innovation tender has awarded 488MW of co-located capacity, with all the projects being solar PV tied with energy storage.
July 4, 2025
Risen Energy’s mass-produced heterojunction (HJT) modules have reached a cell conversion efficiency of 26.61%, a record figure for the company.
July 4, 2025
The US House of Representatives has passed the final version of the reconciliation bill that is now going to US President Donald Trump’s desk for his signature before its passing.
July 4, 2025
Australian retailer AGL Energy has confirmed its acquisition of South Australia’s Virtual Power Plant (SAVPP) from Tesla.
July 3, 2025
Renewable energy curtailment in Brazil is set to reach 8% across the country, and be as high as 11% in the north-east, by 2035.

Subscribe to Newsletter

Upcoming Events

Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico
Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 22, 2025
Bilbao, Spain
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK