“The Sun King and the darkness”
Solarworld still is Germany’s largest producer of PV and other solar installations, but its outlook is becoming more and more grim, Hannes Koch writes in Hamburger Abendblatt. Last week, the company announced a loss “equalling half of our capital stock.” Solarworld CEO Frank Asbeck said “dumping” by Chinese PV exporters was responsible for the company’s woes, but curtailing of Germany’s renewables support had also been a heavy blow for Solarworld, Koch adds. The company has already made drastic job cuts, reorganised production, and got a haircut on its debt to stay in business. But a 700-million euro compensation claim from the US for failing to comply with a supply contract looms large, Koch says.
Read the article in German here.