According to a report by Reuters, the Qatar Foundation is the potential prospect for the acquisition of SolarWorld's production facilities in Germany. The press agency relies on information from an insider, and reports that the foundation holds already 29 percent of the shares of the insolvent german PV manufacturer.
On Wednesday the provisional insolvency administrator, Horst Piepenburg, had confirmed that he has been in negotiations with a prospective group of investors, who intend to take over the two production facilities, totaling 450 employees.
Piepenburg refused to comment on the Reuters report. However, he was optimistic that a short-term investor solution could be reached. The chances of reaching an agreement are higher than the chance of a breakdown innegotiations, said the insolvency administrator.
The insider confirmed to Reuters that a principle agreement had already been signed. According to the press agency this solution would also have advantages for Solarworld´s creditors. With the proceeds from the sales of the US production facilities, they could recoup part of their loans. In the event of a failure of an investor solution, on the other hand, the creditors would come away empty-handed, so Reuters.
Piepenburg also explained on Wednesday that the investor is prepared to finance the business until mid-August. This is vital, since the insolvency money expires at the end of July. This has secured the payment of wages and salaries to the employees since the opening of the insolvency proceedings.
In addition to the negotiations with the prospective investor group, there have also been discussions about the formation of a transfer company for 1,200 more employees at the two facilities in the eastern part of Germany. At the same time Piepenburg did not hold out any high hopes for the continuation of the location in Bonn and its 200 employees.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.