chapter 11

US residential solar installer Sunnova has laid off more than half of its workforce, while a subsidiary from Delaware filed for Chapter 11 bankruptcy.

The winning bid from SunPower assets are the Blue Raven Solar business, New Homes business and non-installing Dealer network.

Residential solar installer Lumio has filed voluntary petitions for relief under Chapter 11 bankruptcy in the US Bankruptcy Court for the District of Delaware.

The stalking horse bid from Complete Solaria was set at US$45 million earlier this month when SunPower filed for Chapter 11 bankruptcy.

SunPower also entered into an asset purchase agreement with residential solar company Complete Solaria to serve as the stalking horse buyer.

US residential solar installer PetersenDean has filed for Chapter 11 bankruptcy protection.

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 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.