Exasun files for insolvency

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Dutch BIPV panel producer Exasun has announced that it has filed for insolvency.

The company attributed the decision to soaring production costs, triggered by the closure of the US and Indian markets to Chinese solar panels. This led to a surplus in the European market, causing a drop of more than 50% in module sales prices, adversely affecting its business, despite its niche market focus.

“This resulted in negative margins and the standstill of new home construction in Europe, our main market, reinforced this negative impact,” said the manufacturer.

The company said it secured an unspecified amount of funds last year from the Netherlands' National Growth Fund (NGF), in partnership with Dutch consortium SolarNL.

Despite this subsidy, the persistent bottom prices of Chinese solar panels make it difficult to realize these plans,” it said. 

The company currently employs 24 people and operates a factory in The Hague. In 2015, Exasun launched commercial operations with its first pilot production line for black glass modules at the manufacturing facility, as it secured funds in 2012.

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The seasonal, December and January edition of pv magazine reveals the much-anticipated winners of this year’s pv magazine Awards. We also consider the ramifications of the current global oversupply of solar panels, Australia’s prospects of refining battery raw materials, and examine how the European Union’s green hydrogen ambitions are developing.

“We are deeply saddened by this news and express our condolences to Exasun,” the European Solar Manufacturing Council (ESMC) said in a statement. “We are aware that many of our member companies are counting the weeks remaining for survival under the current market conditions. We are actively pursuing the European Commission and the Member States to adopt emergency measures to address these challenges.”

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