Solon's investment Blue Chip Energy files for insolvency

Solon acquired a part of Blue Chip Energy in 2006 to secure the supply of solar cells that was seen as a critical move at that time. But it seems now that Blue Chip Energy will be closing its doors. Solon is now faced with the valuation allowance in the aggregate amount of 18 million euros, which primarily results from a shareholder loan granted in the past.

The difficult market situation and the persistently slack demand have been quoted as causes of this financial situation of Blue Chip Energy. The G├╝ssling based chip manufacturer was unable to find a solution despite intensive talks with banks on rescue solutions. This has led to the decision to cease existence of the company that started its monocrystalline cell production in 2008.