The move, by Taitong Industry Ltd, will come as a fresh blow to the Chinese module manufacturer, which twice failed to go public – in the U.S. and China – and whose project development business suffered a battering in China when Beijing reined in subsidies in 2018.
Insolvency proceedings have been under way for the separate Solibro GmbH division since late summer and business operations have long been suspended there. With Chinese thin-film manufacturer Hanergy having told pv magazine it pulled out of that business in 2015 – despite apparent evidence to the contrary – this week another Hanergy subsidiary, Solibro Hi-Tech, declared insolvency.
PV industry veteran Karl-Heinz Remmers recalls the trajectory of solar power this decade and predicts stronger than expected development for the ten years ahead.
Chinese thin film manufacturer Hanergy told pv magazine in August the manufacturing division of Solibro had ceased to be one of its subsidiaries in December 2015 but a company presentation issued six months later would appear to indicate otherwise. Hanergy has been approached for comment.
Despite promises by President Trump to save the coal industry, the crisis in the sector is clear. Solar, wind and batteries have the world to gain.
The Italian fossil fuel company is not hanging around when it comes to diversifying into PV, with almost 1.5 GW of generation capacity plugged in since the start of last year. Canadian Solar has disputed Wiki-Solar’s positioning of First Solar as the world’s biggest PV developer.
Two high-profile bankruptcies this year could serve as a warning for the potential pitfalls of pay-as-you-go and small scale, off-grid solar. However, Marcus Wiemann and David Lecoque of the Alliance for Rural Electrification say such business models can lead to long-term success and have a key role to play in providing power to the 1 billion people throughout the world who still live without electricity.
The District Court of Dessau-Roßlau yesterday confirmed self-administered insolvency proceedings have been conducted at the German thin-film CIGS module manufacturer and a provisional administrator has been appointed.
Solibro GmbH is expected to make the move this month, according to a German media report. The company has yet to publicly confirm the move.
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