Solon ‘curbs’ production output in Germany

Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on email

Struggling PV module manufacturer, Solon is reacting to the weak end-user demand in Germany by reducing module output and plans to introduce short-time working to reduce inventory levels. However, management noted that its two most important overseas markets, Italy and the US remained strong – noting revenue for the quarter was ‘slightly ahead’ of expectations.

Though Solon did not provide further details over production level cutbacks the company noted that approximately 100 workers would be affected by the reduction in production, which was understood to have started on October 1, 2011. The company did not say when the policy would end. The German production facilities are in Berlin and Greifswald.

Back in July, 2011 Solon announced sweeping plans to restructure the company to reduce debts (net debt as of June 30, 2011 €402.4 million) and bring the company back to a firmer financial footing. Then, management noted the need to reduce manufacturing costs, which led to the announced closure of its module assembly lines in the US.

As part of the restructuring efforts, management have appointed Dr. Walter Bickel to join the board as CRO with immediate effect. Dr. Bickel comes from global professional services firm, Alvarez & Marsal, which specializing in turnaround and interim management duties. He and a team from the firm have worked with Solon since restructuring efforts were announced.

However, as a knock-on effect, of current Management Board members Andreas Amelang and Dr. Martin Detje have left their positions by mutual consent. The company noted that Dr. Detje resigned as he disagreed with the strategic repositioning of the company under plans being implemented.

“The restructuring of Solon is on a tight time schedule,” noted Dr. Karl Werner, chairman of the Solon SE Supervisory Board. “We believed it was important for Dr. Bickel, a proven restructuring expert with the necessary skills, to work closely with the Chief Executive Officer so that the decisions that have been made are implemented rapidly and stringently.”

As part of the restructuring, Dr. Werner said that the company had been organized into three business segments, which included components, industrial roofs, and power plants, which were along the lines set out in July this year. However, the business segments were said to be operated as independent organizational units and ‘profit centres.’

Citing a pick-up in business in Germany by the end of the year, management said it remained confident of meeting its downward revised guidance for the full-year.

19 August 2021
The utility-scale PV market is poised for exponential growth and yet the industry still has many fundamental opportunities to improve on standards and best practice. Tracker shade loss has been one of those topics that deserve more attention, but has been typically handled by derate factors rather than trying to accurately forecast the loss over the life of the system. Join Nextracker’s subject matter experts, Aron Dobos and Neelesh Umachandran, and Rounak Kharait, director of solar energy assessments at DNV, for a webinar about why shade modeling matters and recommendations on what the solar industry should do about it.
25 August 2021
Energy Next is a new industry exhibition focusing on the latest renewable energy and energy efficiency technology, which will be held for the first time in 2021 in Sydney, Australia alongside the Clean Energy Council’s Australian Clean Energy Summit, the peak gathering of leaders driving Australia's energy transformation. Organised by the same people behind Australia’s largest clean energy event, All-Energy Australia, Energy Next will give visitors two days of access to key suppliers in the industry, free-to-attend professional development and industry workshops, and networking opportunities to better understand clean energy issues and solutions and learn about the latest developments in this transformational, dynamic sector.
25 August 2021
The Intersolar Summit Brasil Nordeste takes place in Fortaleza, Brazil. It addresses leading local and international experts on solar power and renewable energy in the region. The Summit’s mission is to provide in-depth education, enable high-quality networking opportunities, expand the use of PV technologies at regional and national level and strengthen the local PV industry. The Intersolar Summit Brasil Nordeste is organized by Intersolar South America - Latin America’s largest exhibition and conference for the solar industry: Solar Promotion International GmbH, Pforzheim, Freiburg Management and Marketing International GmbH (FMMI) and Aranda Eventos & Congressos Ltda, São Paulo as co-organizer.
25 August 2021
Join us to hear directly from the CTOs and heads-of-research from the top-20 cell/wafer producers to the PV industry today. The event will focus on predicting the key metrics underpinning the next big shift to n-type with answers to the key questions: When will the transition to n-type happen? Which companies will be first to 10 GW capacity and production? Who will be the key equipment suppliers for the new production lines? Which n-type process flow/architecture will emerge as the front-runner? What will polysilicon purity and wafer thickness levels look like for optimized n-type manufacturing? What will the upstream poly/wafer supply-chain look like in 5 years from now?
26 August 2021
In this webinar, JA Solar will present its product portfolio based on the latest technologies to improve your PV projects, ensuring maximum reliability and performance. During the webinar we will receive insight from JA Solar about its solar technology roadmap and how the manufacturer is providing customers with innovative solutions to suit their needs, while we will also analyse how to determine the best product solution for each solar project.
6 September 2021
The 38th European Photovoltaic Solar Energy Conference and Exhibition will be held online from 6 - 10 September 2021, allowing PV experts from all around the globe to participate with just one click! The EU PVSEC is the world's leading forum for PV Research and Development and the biggest Conference on PV Solar Energy worldwide. That is why PV experts from all around the globe are keen on gathering together each year to be part of this specialist’s event, to present and discuss the latest developments in Photovoltaics, to network and to conduct business.

Read Next

PV Tech Premium
July 30, 2021
Not only will solar be the dominant source of new power generation in Europe by 2025, cementing its position as the third largest market for solar globally, but the continent has placed the asset class at the very heart of its COVID-19 recovery strategy. As part of a week-long special report on PV Tech Premium, Liam Stoker, Edith Hancock and Jules Scully explore the drivers for solar in Europe, the key markets and the challenges that remain.
July 30, 2021
First Solar has unveiled plans to construct a 3.3GWdc module assembly facility in India, bolstering its manufacturing footprint outside of the US.
July 30, 2021
Anglo-Australian mining company BHP, in partnership with Canada’s TransAlta Renewables, is to build two solar farms and a battery storage system to help power its Mt Keith and Leinster nickel mines in Western Australia
July 30, 2021
German energy giant RWE has upgraded its earnings forecast for 2021 after “exceptionally positive” earnings trend
July 29, 2021
Tracker and racking provider Arctech has delivered SkySmart II tracking system to a 575MW agriculture-sharing solar project located in Nangong City, Hebei Province, China.
July 29, 2021
Unigreen Energy, owned by Hevel majority shareholder Ream Management LLC, has broken ground on a wafer and cell manufacturing plant that will produce 1.3GW of silicon n-type monocrystalline ingots and wafers as well as 1GW of heterojunction technology (HJT) solar cells.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
August 19, 2021
At 9am (PT) | 6pm (CEST)
Solar Media Events
August 25, 2021
Solar Media Events
October 6, 2021
Solar Media Events
October 19, 2021