Recently, AKV Europa, an association for the protection of creditors'rights and interests, announced bankruptcy proceedings against Austrian solar module manufacturer Energetica Industries GmbH and its owner Peak Power Holding GmbH. This is the second time Energetica has filed for bankruptcy.
The Austrian company declared its first bankruptcy in November 2021, citing disruptions caused by COVID-19 that cut off its access to raw materials from China.
And Energetica claims that the restructuring process that began in April 2022 after the earlier bankruptcy, although completed, has not been successful in the long term.
AKV said it could not confirm whether the restructuring plan had been completed and would need to be explained in detail during the proceedings.
The Libenfells-based solar module maker has liabilities of around 19 million euros , affecting about 120 creditors and 94 employees . It now needs further restructuring by outside investors.
According to its bankruptcy filing, a variety of investors and industrial companies have taken a keen interest in acquiring the company "given its premier industrial location, modern production floor, and outstanding products and patents, particularly for inclement weather and high performance.".
Local news portal Kleine Zeitung, citing a statement from Energetica, reported that "devastating" competition in the market, with warehouses flooded with cheaper Chinese solar panels, has complicated the situation for local industry players. In February
2023, the company also fell victim to fraud in which thousands of solar modules were stolen , using stolen identities, resulting in millions of dollars in losses. This is also the main reason for the company's bankruptcy filing. In July
2023, Tubesolar, a German agricultural photovoltaic thin-film photovoltaic company, also filed for bankruptcy on the grounds of supply chain problems, and eventually stopped production in August 2023. & nbsp;
(Translation and arrangement of digital new energy DataBM. Com)
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