SolarWorld Americas gets new funding lifeline from German creditors

Facebook
Twitter
LinkedIn
Reddit
Email
SolarWorld Americas said it had been given a US$5 million loan to support a return to full manufacturing capacity, which would add around 200 jobs, sometime in the third quarter of 2018. Image SolarWorld Americas

Solar PV manufacturer SolarWorld Americas said it had been given a US$5 million loan to support a return to full manufacturing capacity, which would add around 200 jobs, sometime in the third quarter of 2018. 

SolarWorld Americas was a wholly-owned subsidiary of German-based integrated PV manufacturer, SolarWorld AG, which filed for bankruptcy in May 2017. Although its founder Dr. Ing. Eh Frank Asbeck with major financial support from the Qatar Foundation acquired much of the German manufacturing operations from the German court appointed insolvency administrator. 

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

However, the insolvency administrator still had the task of finding a buyer for SolarWorld Americas, which has been kept going since from selling building assets and small loans from German creditors.

The Section 201 trade, which led to the recent 30% import duty on virtually all foreign made solar modules could become a boost to SolarWorld Americas, not least making the company more attractive for the German administrator to sell the company. 

“With this latest cash infusion, our creditors are demonstrating their confidence in our company and its outlook for growth,” said Juergen Stein, CEO and President of SolarWorld Americas. “We are continuing to serve our customers, as we have done for decades.  They should read this update as yet another signal of our stable financial footing.”

SolarWorld Americas noted that its creditors had previously extended a loan of US$6 million, and permitted US$6 million in proceeds from the sale of a warehouse building to be used for keeping manufacturing operations going.  The company had been forced to drastically cut its US workforce after its parent company filed for bankruptcy, by around 500. Currently, the company is employing over 300 people. 

SolarWorld Americas had sales of €405.7 million (US$495 million approx.) in 2016, accounting for 51% of total sales of SolarWorld AG, which reached €803 million (US$979 million) but was not profitable. 

SolarWorld AG had reported negative earnings before interest, taxes, depreciation and amortization (EBITDA) of €24 million and a negative EBIT of €99 million in 2016. 

SolarWorld Americas Hillsboro manufacturing plant has a nameplate capacity of 500MW for cells and modules and produces high-efficiency P-type monocrystalline PERC (Passivated Emitter Rear Cell) technology.

7 October 2025
San Francisco Bay Area, USA
PV Tech has been running an annual PV CellTech Conference since 2016. PV CellTech USA, on 7-8 October 2025 is our third PV CellTech conference dedicated to the U.S. manufacturing sector. The events in 2023 and 2024 were a sell out success and 2025 will once again gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing in the U.S. out to 2030 and beyond.

Read Next

September 17, 2025
Chinese module producer DAS Solar is planning a 5GW manufacturing facility focused on producing high-efficiency back contact cells.
Premium
September 17, 2025
PV CellTech: Martin Pochtaruk, CEO of North American solar module manufacturer Heliene, says US producers must learn to survive without tax incentives.
September 16, 2025
IB Solar is investing INR30 billion (US$340 million) in a 4GW TOPCon solar cell and module manufacturing plant in Jewar, Uttar Pradesh.
September 15, 2025
Vikram Solar has secured a contract to supply 200MW of modules to AB Energia, a domestic solar engineering, procurement, and construction (EPC) solutions provider. 
September 11, 2025
US cell manufacturer ES Foundry is proceeding with expansion plans despite a six-month delay due to recent trade and tax credit policy uncertainties.
Premium
September 11, 2025
PV CellTech USA: US cell manufacturer ES Foundry’s CEO Alex Zhu discusses his company's rapid ascent, strategic technology choices and the challenges of operating in a shifting policy environment.

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