bankruptcy

Key manufacturing and R&D assets of bankrupt German integrated PV module manufacturer SolarWorld AG have been acquired by its former founder and chairman, Dr. Ing. Eh Frank Asbeck.

Bankrupt German integrated PV module manufacturer SolarWorld AG has announced the resignation of its Management Board, excluding founder and chairman, Dr. Ing. Eh Frank Asbeck.

Up to 100 solar PV firms in Japan could face bankruptcy this year, with more than double the number of firms going bust in the first half of this year than the same period in 2016.

With its parent company SolarWorld AG and German-based subsidiaries at the early stage of insolvency proceedings, US subsidiary SolarWorld Americas Inc., has said for the first time since its parent company went bankrupt that it was planning to operate its manufacturing plant in Hillsboro, Oregon and other operations as normal.

Recently bankrupt Sungevity has sold assets to Solar Spectrum, a newly-established solar firm backed by Minnesota-based private equity firm Northern Pacific Group.

After filing for Chapter 11 bankruptcy protection in March this year, Sungevity has been approved for sale to Minnesota private equity firm Northern Pacific Group for US$50 million.

Atlanta-based solar panel manufacturer Suniva has officially filed for Chapter 11 bankruptcy blaming overcapacity due to a mass influx of cheap solar panels in Asia, undercutting domestic production.

Bankrupt US solar module start-up Beamreach Solar’s pilot production line in Milpitas, California is being offered for sale by Silicon Valley Disposition (SVD).

Hawaiian Electric Companies (HECO) and Texas’ NRG Energy have signed new PPAs to bring online over 100MW of new solar in Oahu, with three utility-scale PV projects.

Bankrupt renewables firm SunEdison has finally got the green light to proceed with the US$150 million sale of its FBR (Fluidised Bed Reactor) technology polysilicon assets to GCL-Poly Energy Holding after a deal was struck with company spinoff SunEdison Semiconductor.