German installer Eigensonne files for insolvency

Berlin-based Eigensonne, a supplier of rooftop PV systems for purchase and rental, has filed for insolvency. However, rival supplier Calosol is offering Eigensonne’s customers the chance to install their systems at their agreed prices with equivalent components.

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From pv magazine Germany

The Charlottenburg district court in Berlin, Germany, opened preliminary insolvency proceedings against German PV installer Eigensonne GmbH last week.

Lawyer Florian Linkert has been appointed as the provisional insolvency administrator for Eigensonne. While specific reasons were not provided in the published notice, it's evident that Eigensonne had long-standing difficulties and was actively seeking investors and buyers.

The Berlin-based company offers PV systems for purchase and rental. This has various effects on customers, pv magazine has learned. Christian Langen, the founder of Dynago, and Tobias Schütt, a freelance consultant, focused their analysis on customers who rented PV systems from Eigensonne. They believe that customers who already have systems on their rooftops and need the help of Eigensonne for technical problems will probably face the greatest difficulties.

“The insolvency of a well-known provider is not good for the entire industry,” Stefan Arnold, the managing director of Calosol told pv magazine. “This leads to additional uncertainty, especially given the current market situation.”

The most-affected customers are those who purchased systems but likely haven't received them. Arnold noted the right of withdrawal, stating that customers could withdraw from contracts if the last components haven't been received, regardless of when the purchase agreements were signed.

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Arnold said he wants to “start a rescue operation for Eigensonne customers” with a network of installers.

“For buyers of an Eigensonne photovoltaic system, we build the system with equivalent components at the price agreed by Eigensonne in the purchase contract and regardless of the region,” he said.

Langen and Schütt noted the strategic options that Eigensonne has after the opening of insolvency proceedings, provided that the banks provide fresh capital or an investor is found. The company could then continue as before. However, a haircut would probably then be necessary and it is questionable whether new customers could be found for the long-term rental model, they said.

The second option would be for Eigensonne to focus on supporting its customers' existing PV systems. According to Schütt and Langen, the third possibility would be the end of the company.

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