Shunfeng to buy German developer SAG Solarstrom

Facebook
Twitter
LinkedIn
Reddit
Email

Shunfeng Photovoltaic, the owner of module maker Suntech, has purchased insolvent German project developer SAG Solarstrom for €65 million (US$85.4million).

Shunfeng, through the German subsidiary of Suntech, will acquire all of Solarstrom’s assets. The company had been looking for new investment after a number of delayed project payments forced it to begin insolvency proceedings at the end of 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

“It was our goal to find a strong international partner to take over the group with all its business areas, with whom we would be able to continue to expand our offer along the entire photovoltaic value-added chain and implement our plans for growth,” said Dr. Karl Kuhlmann, CEO, SAG. Solarstrom. “And we have succeeded. For the new company, we envisage substantial growth prospects, both in the European and in the international market, and very much look forward to our further collaboration,” he added.

Shunfeng had said in June that it was in advanced talks with a European developer. SAG Solarstrom refused to comment when asked about a possible investment from Shunfeng.

“The SAG Solarstrom group is a perfect fit for our downstream portfolio and will strengthen our European presence in the photovoltaic market,” said Eric Luo, CEO, Suntech. “The group has very good access to markets and in particular, many years of experience in the implementation of international photovoltaic projects. The SAG subsidiary meteocontrol is also a world market leader in the professional monitoring of photovoltaic systems and therefore not just a very interesting extension to our own system portfolio,” he said.

Shunfeng will bundle the rest of its European operations into the new look Solarstrom. Kuhlmann said he expected the company to restart international project development in 2015.

SAG Solarstrom currently operates 116 PV power plants in Europe, with a total output of 26.5MWp. Meteocontrol, a 100% subsidiary of SAG Solarstrom is said to monitor over 35,000 solar systems around the world with a total output of over 8.8GWp.

Read Next

September 18, 2025
The Canadian Renewable Energy Association (CanREA) has forecast that Canada will add between 17GW and 26GW of solar PV over the next decade.
September 18, 2025
Researchers have called for enhanced international standards to detect ultraviolet-induced degradation (UVID) in PV modules after identifying “severe” levels of the problem in operational n-type panels.             
September 18, 2025
Indian PV makers have welcomed the government’s plan to add solar wafers to its ALMM List-III from June 2028.
September 17, 2025
US renewables developer Longroad Energy has reached financial close for its 400MW 1000 Mile solar project in the US state of Texas.
September 17, 2025
Spanish renewables developer and operator Acciona Energía has commissioned its 412MWp Juna solar PV plant in Kawani village in the western state of Rajasthan. 
September 17, 2025
Spanish IPP Velto Renewables has acquired a portfolio of 53 operational solar assets in Spain with a combined capacity of 260MW.

Subscribe to Newsletter

Upcoming Events

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
Solar Media Events
October 7, 2025
San Francisco Bay Area, USA