Soltecture opens insolvency proceedings

Facebook
Twitter
LinkedIn
Reddit
Email

Having made a few leaps in the last six months alone with a TÜV safety certification in September, announced the production of its first 100MW thin-film modules and partnering with altPOWER for future US-based BIPV projects, executive management of Soltecture have applied to open insolvency proceedings. Having extensively explored new financing options, including rebranding and restructuring initiatives towards the end of last year, the company has stated it saw no other viable option for averting the company’s impending insolvency at the present time.

The company blames a high surplus capacity on the market leading to a drop in solar module prices, which – despite the company’s greatest efforts to further reduce costs – could not be compensated.

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

Hartwig Albers, from Brinkmann & Partner, has been appointed by the insolvency court in Berlin Charlottenburg as preliminary insolvency administrator. Brinkmann & Partner dealt with business operations at bankrupt PV project and EPC firm, Ralos New Energies last month.

Soltecture is confident that operations can be continued at its headquarters in Adlershof with an industrial investor, claiming it is already at an advanced stage of discussion with prospective partners. Details have not been disclosed.

Dr. Nikolaus Meyer, CEO Soltecture said, “This is a tough day for our company. However, the discussions over the last month make me extremely confident that with our technology we will be able to secure a new, strong partner as a shareholder. We will be working together closely with our insolvency administrator, Mr. Hartwig Albers, to successfully negotiate an agreement with an industrial investor as quickly as possible”.

Once he has gained an overview of the company’s current situation, insolvency administrator, Albers, is expected to prepare the next steps in the preliminary insolvency proceedings.
 

Read Next

February 17, 2025
Struggling Swiss solar manufacturer Meyer Burger has successfully extended its loan bridge facility until 21 February 2025.
February 17, 2025
Germany is poised to introduce new rules aimed at removing electricity peaks and negative pricing associated with surplus generation of solar power.
February 17, 2025
Round-up of community solar news with new legislations progressing in the US states of Missouri and Iowa, while New Mexico started construction on the first project in the state.
Premium
February 17, 2025
Brian Grenko of VDE Americas assesses the route to market for perovskite PV products as an alternative to silicon-based technologies.
February 17, 2025
Lee Zeldin said the EPA should "reassume responsibility" for funds issued under the Greenhouse Gas Reduction Fund.
February 17, 2025
A new report from the International Energy Agency (IEA) has shown that solar PV made up 7% of the world's electricity generation in 2024.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
February 19, 2025
Tokyo, Japan
Solar Media Events
March 11, 2025
Frankfurt, Germany
Solar Media Events
March 18, 2025
Sydney, Australia