bankruptcy

Dutch startup LionVolt has acquired AMTE Power’s battery cell production line in Scotland. It says it will use the assets for pilot production of its 3D solid-state thin-film batteries.

Nilar, a Swedish producer of nickel metal hydride batteries, has filed for insolvency and is now looking for a new owner.

U.S.-owned analyst Wood Mackenzie expects solar demand to decline but predicts the market will recover, with the prospects for the energy transition remaining intact.

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.

Finnish lender Nordea has called in a NOK150 million indemnity loan thought to have been taken out by REC Silicon ASA as a result of the bankruptcy of its Norwegian wafer manufacturing arm seven years ago.

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.

A Teikoku Databank report says as many as 95 solar companies went bankrupt last year – seven more than in 2017. The company warns the negative trend that began in 2016 may escalate as FIT reductions for large-scale solar come into effect.

An investigation by mainland China regulators has found that subsidy payment delays in the northwest region of Ningxia are putting PV projects at risk of bankruptcy.

In reporting its FY 2017 financials, Yingli has again revealed that “substantial doubt exists as to the Company’s ability to continue as a going concern.” It is seeking to agree on a debt restructuring plan with creditors, and is asking them to refrain from initiating bankruptcy proceedings. Overall, it recorded a 2017 net loss of US$510 million and total liabilities of $3.2 billion. It has not issued guidance for this year.

Solarworld claims that the business has been stabilized, and first customers have been supplied again. It was also announced that Chairman of the Supervisory Board, Georg Hansen, will resign in June.