Markets & Policy

State of Berlin to save Solon?

The State of Berlin has confirmed that it is very interested in saving Germany-based Solon, which filed for insolvency on Tuesday.
By
pv magazine

“We have a great interest that the site remains in Berlin and that Solon quickly becomes competitive again,” a Berlin senate spokesman told news agency, DAPD. He would not comment on the possible rescue of the photovoltaic module manufacturer by a re-injection of funds, however.
The State of Berlin has already acted as guarantor to Solon to the tune of €37.4 million, for €275 million of credit the company received from a consortium of eight banks. Other guarantors, for around €80 million, were the State of Mecklenburg-Vorpommern and the federal government.
While Solon filed for insolvency on Tuesday, the company has said it will continue operating in the meantime. In the DAPD report, chairwoman Sabine Lutz further denied media reports concerning layoffs. “This speculation is irresponsible,” she stated.

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