The German-based PV project developer, SunStrom has filed for bankruptcy, at the Wienberg Dresden court, according to the provisional liquidator HWW Wienberg Wilhelm. The firm was a subsidiary of Solarwatt, which filed for creditor protection in June 2012.
SunStrom has been in operation for 12 years and had been known for some high-profile PV projects in Germany, such as the rooftop installation at BMW-World.
“The SunStrom GmbH has been in the market for over twelve years and has first-class know-how and excellent references," stated lawyer, Rudiger Wienberg.
Wages and salaries of employees are protected from the insolvency payments until the end of September 2012.