SolarWorld gets court approval to complete restructuring

Facebook
Twitter
LinkedIn
Reddit
Email

SolarWorld has received court approval for its ongoing restructuring process, the final administrative hurdle to its reorganisation.

The company’s shareholders approved the deal in August that will see Qatar Solar take a 29% stake in the company while existing shareholder will take a 95% write-down in the value of their shares. The debt for equity swap will cut 55% of SolarWorld’s liabilities.

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

SolarWorld CEO Frank Asbeck will also take a 19.5% stake in the company as part of the shake-up.

“We can now implement our restructuring measures as planned. This will return SolarWorld AG to a solid financial footing,” claimed Asbeck.

“The year 2014 marks the birth of a new SolarWorld. At the same time, the new SolarWorld, with locations in Saxony, Oregon and Thuringia, remains true to old virtues: top quality and high-performance modules made in Germany and made in the United States,” he added.

At the end of 2013 an audit of SolarWorld’s finances revealed greater than expected losses of €620 million (US$846.1 million) in its 2012 accounts.

Read Next

Premium
July 15, 2025
Virtual power plants are emerging as a potentially critical means of meeting the growing power demands from data centres in the US.
July 15, 2025
D.E. Shaw Renewable Investments (DESRI) has started construction at a 150MW solar-plus-storage project in the US state of New Mexico.
July 15, 2025
The US Department of Commerce (DoC) has initiated an investigation into the imports of polysilicon and its derivatives.
July 15, 2025
Indian renewable energy company SAEL Industries is developing a 5GW solar cell and 5GW module manufacturing facility in Greater Noida, Uttar Pradesh.
July 15, 2025
Greater policy clarity will be needed if Germany is realise its FPV potential, according to a report from Fraunhofer ISE.
July 15, 2025
Poland has awarded 1.6GW of solar PV in this year’s renewable energy auction, according to the country’s Energy Regulatory Office.

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