Wanted: Investor for the entire SolarWorld Group

Sydney-based global investment bank Macquarie Capital has commenced a worldwide search for an investor for the entire Solarworld Group. Solarworld also claims that the business has been stabilized, first customers have been supplied again and the company has paid its 2,200 employees their salary as part of the insolvency allowance.

“Our employees are focused and motivated to further stabilize and continue the business,” says Horst Piepenburg, who was appointed as provisional insolvency administrator at Solarworld on May 12, 2017.

Piepenburg also appreciated the visit of a delegation from the Indian Ministry of Energy. According to Solarworld, the delegation was briefed about the importance of innovative and high-quality modules for energy production.

The background to this is that India and Germany aim to strengthen their cooperation, especially in the areas of renewable energy.

At the same time, SolarWorld will have to look for a new Chairman of the Supervisory Board. Georg Hansen, Member and Chairman of the Solarworld Supervisory Board, informed the company that he will resign on June 30, due to other professional duties.

On 11 May, the SolarWorld Executive Board applied for insolvency for the corporation and its German subsidiaries. Due to the ongoing insolvency, the Annual General Meeting scheduled for July 3 was canceled last week.