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Enerparc files for insolvency

Enerparc AG has entered preliminary insolvency proceedings in Germany, with the filing currently limited to the parent company. The move comes months after the solar developer secured a €1 billion financing package to expand its solar and battery portfolio.
Sandra Enkhardt
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Sandra Enkhardt
Feldlerche auf einem Solarmodul in Photovoltaik-Anlage von Enerparc
Image: Enerparc

The Hamburg District Court opened preliminary insolvency proceedings against German solar developer Enerparc AG on Monday.

According to an official court notice, attorney Stefan Denkhaus of law firm BRL has been appointed preliminary insolvency administrator. The proceedings secure employee wages for a period of three months.

Based on currently available information, the insolvency filing applies only to Enerparc AG and does not include its subsidiaries or project companies. The Hamburg-based company has a workforce of nearly 700 employees.

Enerparc says it has developed more than 1,000 solar projects with a combined capacity of about 6.6 GW in Germany and other markets. It continues to operate some of these projects as part of its own portfolio.

Earlier this year, Enerparc secured a €1 billion ($1.16 billion) financing package to support the expansion of its solar and battery energy storage portfolio. The package comprised a €500 million junior loan and a long-term project financing facility initially valued at €425 million, with the option to increase it to €500 million through an accordion facility.

The court notice did not provide details about the circumstances that led to the insolvency proceedings.

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