{"id":11237,"date":"2017-05-11T11:43:01","date_gmt":"2017-05-11T01:13:01","guid":{"rendered":"https:\/\/www.solarquotes.com.au\/blog\/?p=11237"},"modified":"2017-11-05T08:07:55","modified_gmt":"2017-11-04T21:37:55","slug":"solarworld-insolvency-mb0033","status":"publish","type":"post","link":"https:\/\/www.solarquotes.com.au\/blog\/solarworld-insolvency-mb0033\/","title":{"rendered":"SolarWorld AG Files For Insolvency (Updated)"},"content":{"rendered":"

\"SolarWorld<\/p>\n

UPDATE: October 16<\/strong>.\u00a0 In August, an agreement was signed<\/a> for the purchase and transfer of SolarWorld AG, SolarWorld Industries Sachsen GmbH, SolarWorld Innovations GmbH and SolarWorld Industries Th\u00fcringen GmbH by SolarWorld Industries GmbH. In Australia, we call it ‘phoenixing’ when a company files for insolvency and then gets bought out by a new company with an almost identical name. It is not clear what debts will be passed on to the new entity.<\/p>\n

As for SolarWorld Americas, according to an article last month on PV-Tech, SolarWorld Americas “is in discussions<\/a>” with several interested parties regarding its future sale.<\/p>\n

—<\/p>\n

German solar panel manufacturer SolarWorld AG says it will file for insolvency proceedings – an uncertain future awaits the 3,300 people employed worldwide by the company.<\/p>\n

The announcement was made earlier today.<\/p>\n

“The management board of SolarWorld AG, after having conducted a diligent review, came to the conclusion today that due to the ongoing price erosion and the development of the business, the Company no longer has a positive going concern prognosis, is therefore over-indebted and thus obliged to file for insolvency proceedings,” said part of a brief statement<\/a> from the company.<\/p>\n

“It is currently under evaluation if a respective obligation to file for insolvency proceedings is also given with regard to affiliated companies of SolarWorld AG.”<\/p>\n

One of the few remaining large manufacturers producing solar panels in Germany, SolarWorld will not only be remembered as a quality Tier 1 module<\/a> producer, but also for controversy.<\/p>\n

The company has a long history of protesting loudly regarding solar power related trade practices in China. It was a driving force behind a demand for punitive tariffs leveled against some Chinese solar firms it said were dumping PV panels into various countries below market value.<\/p>\n

This resulted in the so-called solar trade war<\/a> and accusations the firm was acting like a “crazed agent provocateur<\/a>“.<\/p>\n

With the insolvency, it appears China has ultimately won the battle started years ago. SolarWorld founder and CEO Frank Asbeck reportedly stated<\/a> “illegal price dumping” by Chinese producers contributed to its downfall.<\/p>\n

In April, the company reported it had sold 382 MW during the first quarter of 2017, in what it called a “difficult market environment”.<\/p>\n

The company certainly kept up the fight to stay afloat; also announcing last month a “new flagship” in its panel fleet, the Bisun Protect module.<\/p>\n

SolarWorld has PV manufacturing facilities in Freiberg and Arnstadt, Germany. The firm also has a factory in Hillsboro, Oregon in the USA; claimed to be the largest photovoltaic technology manufacturing plant in the Western Hemisphere.<\/p>\n

As for Australian owners of SolarWorld solar panels<\/a> with regard to any future warranty claims, as the company does not have an office in Australia, it’s the importer of the panels who is responsible for their warranties under Australian law.<\/p>\n","protected":false},"excerpt":{"rendered":"

UPDATE: October 16.\u00a0 In August, an agreement was signed for the purchase and transfer of SolarWorld AG, SolarWorld Industries Sachsen GmbH, SolarWorld Innovations GmbH and SolarWorld Industries Th\u00fcringen GmbH by SolarWorld Industries GmbH. In Australia, we call it ‘phoenixing’ when a company files for insolvency and then gets bought out by a new company with […]<\/p>\n","protected":false},"author":17,"featured_media":11238,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[678],"tags":[],"class_list":["post-11237","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-solar-battery-news","entry"],"acf":[],"yoast_head":"\nSolarWorld AG Goes Belly Up - Filing For Insolvency<\/title>\n<meta name=\"description\" content=\"German solar panel manufacturer SolarWorld AG says it will file for insolvency proceedings - an uncertain future awaits the 3,300 people it employs globally\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.solarquotes.com.au\/blog\/solarworld-insolvency-mb0033\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SolarWorld AG Files For Insolvency (Updated)\" \/>\n<meta property=\"og:description\" content=\"German solar panel manufacturer SolarWorld AG says it will file for insolvency proceedings - 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The purchase price was not disclosed and the deal is subject to regulatory approvals and other closing conditions. \"The time is right for SunPower to invest in U.S. manufacturing, and SolarWorld Americas provides a great platform for us\u2026","rel":"","context":"In "General Solar & Storage News"","block_context":{"text":"General Solar & Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"SunPower SolarWorld Americas acquisition","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/04\/sunpower-solarworld-acquisition.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/04\/sunpower-solarworld-acquisition.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/04\/sunpower-solarworld-acquisition.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/04\/sunpower-solarworld-acquisition.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":20212,"url":"https:\/\/www.solarquotes.com.au\/blog\/trump-solar-tariff-exclusions-mb0515\/","url_meta":{"origin":11237,"position":2},"title":"Panel Manufacturers Line Up For Trump Solar Tariff Exclusions","author":"Michael Bloch","date":"March 22, 2018","format":false,"excerpt":"Some of the biggest names in the solar panel manufacturing industry have filed requests to be excluded from U.S. punitive duties on imported modules and cells - and one applicant may raise a few eyebrows. In January this year, U.S. President Donald Trump gave the go-ahead for punitive tariffs of\u2026","rel":"","context":"In "General Solar & Storage News"","block_context":{"text":"General Solar & Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"Trump Solar Tariffs - Solar Products Safeguard Measure","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/03\/trump-solar-tariff.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/03\/trump-solar-tariff.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/03\/trump-solar-tariff.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/03\/trump-solar-tariff.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":16847,"url":"https:\/\/www.solarquotes.com.au\/blog\/solarworld-ag-is-dead\/","url_meta":{"origin":11237,"position":3},"title":"SolarWorld AG Is Dead — Long Live SolarWorld Industries GmbH","author":"Ronald Brakels","date":"November 22, 2017","format":false,"excerpt":"Those of you who have German made SolarWorld panels on your roofs or are thinking of getting some, may be wondering about what's happened with the company since they filed for bankruptcy in May this year. Well, SolarWorld AG, consisting of SolarWorld in Europe and its shares in subsidiaries in\u2026","rel":"","context":"In "Solar Panels"","block_context":{"text":"Solar Panels","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-panels-2\/"},"img":{"alt_text":"solarworld phoenix","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/11\/solarworld-phoenix.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/11\/solarworld-phoenix.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/11\/solarworld-phoenix.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/11\/solarworld-phoenix.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/11\/solarworld-phoenix.jpg?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/11\/solarworld-phoenix.jpg?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":12521,"url":"https:\/\/www.solarquotes.com.au\/blog\/usa-solar-employment-threat-mb0084\/","url_meta":{"origin":11237,"position":4},"title":"88,000 US Solar Jobs Threatened By Trade Case","author":"Michael Bloch","date":"June 19, 2017","format":false,"excerpt":"If a petition made by a declared bankrupt US solar company is successful, tens of thousands of jobs may be lost says the Solar Energy Industries Association (SEIA). Suniva, Inc. filed a petition with the U.S. International Trade Commission (ITC) in April this year requesting the US government level punitive\u2026","rel":"","context":"In "General Solar & Storage News"","block_context":{"text":"General Solar & Storage News","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-battery-news\/"},"img":{"alt_text":"Solar employment in the USA","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/06\/usa-solar-jobs.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/06\/usa-solar-jobs.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/06\/usa-solar-jobs.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2017\/06\/usa-solar-jobs.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":5438,"url":"https:\/\/www.solarquotes.com.au\/blog\/solarworld-launches-bifacial-solar-panels-us\/","url_meta":{"origin":11237,"position":5},"title":"SolarWorld launches bifacial solar panels in US","author":"Staff Writer","date":"March 13, 2016","format":false,"excerpt":"German and US based manufacturer of top quality solar panels,\u00a0Solar World AG launched their new bifacial solar modules in late 2015 at the industry trade show Solar Power International. However it was this month\u2019s announcement of the first rollout of the new SolarWorld solar panels in the United States that\u2026","rel":"","context":"In "Solar Panels"","block_context":{"text":"Solar Panels","link":"https:\/\/www.solarquotes.com.au\/blog\/category\/solar-panels-2\/"},"img":{"alt_text":"solar world","src":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2016\/03\/bifacial-solar-world.jpg?resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2016\/03\/bifacial-solar-world.jpg?resize=350%2C200 1x, https:\/\/i0.wp.com\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2016\/03\/bifacial-solar-world.jpg?resize=525%2C300 1.5x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/posts\/11237","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/users\/17"}],"replies":[{"embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/comments?post=11237"}],"version-history":[{"count":11,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/posts\/11237\/revisions"}],"predecessor-version":[{"id":16436,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/posts\/11237\/revisions\/16436"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/media\/11238"}],"wp:attachment":[{"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/media?parent=11237"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/categories?post=11237"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.solarquotes.com.au\/blog\/wp-json\/wp\/v2\/tags?post=11237"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}