Tag Archives: bankrupt
Will Sharp Exit Solar?
Sharp Corporation may end production and sales of solar cells and modules in the U.S. and Europe by March as part of a restructuring, according to reports from Bloomberg and Reuters news. Japan’s Sharp Corp may pull its solar panel business out of Europe and the United States as the cash-strapped company looks for ways [...]
Siemens: Still in the Solar Game
If you were to google “siemens solar” right now, you’d probably see a number of damning headlines regarding Siemens’ role in the solar industry. This last Monday, the 22nd of October, Siemens AG made the announcement that Siemens Solar & Hydro division of Siemens Energy will be discontinuing its solar business. The news comes only [...]
The Citigroup of China? LDK Solar Now Owned by Chinese Government
LDK (NYSE: LDK), based in China, is one of the world’s largest producers of solar wafers, as well as a manufacturer of high-purity polysilicon. But, the solar industry is painfully oversupplied, and most if not all solar firms are losing money. LDK had an operating loss of $172 million in the second quarter and three [...]
The “No More Solyndras” Act
Republican lawmakers are formalizing their assault on Department of Energy (DOE) loan guarantees for young clean energy companies with the “No More Solyndras Act.” The tagline is: Legislation Will Ensure Taxpayers Are Never Again Left on the Hook for the Administration’s Risky Bets Even though two years of investigations uncovered no wrong-doing, and DOE’s program [...]
In Desperation, A123 Raises $39M
Lithium-ion battery maker A123 Systems on Friday announced plans to raise about $39 million in cash to shore up its finances as it struggles to survive in the midst of a massive recall of its automotive batteries. But the company also warned that it only had cash to fund operations through the next four to [...]
Why the Abound Solar Bankruptcy Wasn’t Surprising
The news report on Department of Energy informing of Abound Solar demise surprised many people and led to the usual media excitement of Obama’s faulty loans to cleantech companies. However to any solar industry follower it was an expected death and the only surprise was that it took so long. Chinese solar crystalline panel prices [...]
RIP: Abound Solar
The DOE confirmed that Abound will be closing its doors and declaring bankruptcy next weekin a posting on its website today. The post noted, “Because of the strong protections we put in place for taxpayers, the Department has already protected more than 80 percent of the original loan amount. Once the bankruptcy liquidation is complete, [...]
Will The Remaining Thin Film Solar Companies Make It?
While the solar bankruptcies that have been going on for the last year or so are nothing new, the pace has recently accelerated. With even the biggest thin film manufacturer, First Solar finding its products noncompetitive in the face of cheap Chinese c-Si solar modules, the smaller start ups are facing extinction. Even the older [...]
More Problems at A123 Systems
Lithium Ion battery maker A123 Systems (NASDAQ:AONE) recently said in its 8K filing with the SEC that many events have raised “substantial doubt on [its] ability to continue as a going concern.” Back on March 26, A123 started a project with an estimated cost of $51.6 million to replace battery modules and packs that contained [...]