Posts from category: Bankruptcies


Euro Solar goes into Liquidation

According to the attached notice published on the ASIC website Euro Solar has gone into liquidation. This potentially leaves the thousands of Australian homeowners who purchased a solar power system from them without any warranties. In the past Euro Solar has been hit...

Solar warranties are all the same aren’t they?

On paper solar warranties all look the same, solar panels for example all have a 25 year performance guarantee and most solar inverters a 5 year guarantee so they must be all the same, right? Unfortunately this is definitely not the case. Warranties are just bits of...

Leading solar company placed into Administration

The Australian solar industry has been rocked by the apparent collapse of one of the country’s largest and most prominent solar developers, the Queensland-based Ingenero. According to ASIC documents, Ingenero was placed in the hands of external administrators late...

Avanco DC Isolator recall

Advancetech the importer and supplier of the recalled Avanco DC isolator has gone into liquidation after 27,600 of the isolators were recalled by the QLD Government. Sunshine Coast Solar Centre is urging all solar power system owners to check their DC isolators and if...

Suntech’s difficulties continue

Suntechs woes continue to mount with 3 senior directors quitting the company citing issues with negotiations with bondholders, cash flow and a lack of clear business plan More worringly Bloomberg analyst Wang Xiaoting reported the following “Rather than the...
Conergy Files for Insolvency

Conergy Files for Insolvency

 July 7, 2013 German solar panel manufacturer Conergy said it will file for insolvency on Friday, the latest victim of ferocious competition from Asia in the industry. Conergy, which has workforce of around 1,200, said it would file an application for the opening of...

Suntech files for Bankruptcy

From the Australian: CHINA’S Suntech reached its zenith as the world’s largest solar panel producer, but has plunged to the nadir of bankruptcy in just a year, highlighting the woes of the industry it shaped. The New York-listed company on Wednesday...
Conergy Files for Insolvency

Suntech defaults on loan repayments

 March 19, 2013 From Sydney Morning Herald Suntech Power, the solar giant founded by Australian-trained former billionaire Shi Zhengrong, became the first company from mainland China to default on its bonds in the modern era after failing to repay $US541 million ($520...
Conergy Files for Insolvency

Suntech teetering on brink on collapse

March 15, 2013 From Sydney Morning Herald… Shi Zhengrong, the former billionaire dubbed the ”Sun King” for the meteoric rise of his solar company, Suntech Power, remains ”upbeat and very positive”, even as a possible debt default looms...

Administration for Unleash Solar

From ABC An Adelaide-based national solar-panel company, Unleash Solar, is going into voluntary administration. Commissioner for Consumer Affairs Paul White said the company was being investigated for 17 complaints about faulty equipment and warranty work not being...

Solagex in liquidation

The courier mail today reported that Solagex “one of Australia’s largest solar companies” (we haven’t heard of them) had gone into liquidation owing more than $3.129m. Solagex joins Beyond Building, Solar Shop, Premier Solar and Clear Solar in...

First Solar Latest Casualty in Renewable Energy Shakeout

First Solar Inc. decision to fire 30 percent of its staff and reduce production shows that even the biggest solar panel makers aren’t immune from the shakeout that’s bankrupted at least eight companies on two continents in the past year. The largest thin-film solar...

Beyond Building in Administration

Solar energy company Beyond Building Systems has collapsed on the back of a $1 million debt to the Australian Taxation Office and problems with its solar panel machinery. Robert Smith, of Worrells on the Gold Coast, has been appointed liquidator of the...

Q-Cells struggles to survive

A global reduction of government rebates and feed in tariffs for solar power has resulted in a significant decline in the demand for solar panels. German officials recently announced further cuts to their tariffs triggering a slump in the share price of some...

Solarshop purchased by Melbourne company

Solar lessons, learned the hard way by Giles Parkinson – climate spectator The remnants of what was once Australia’s largest independent rooftop solar installer, SolarShop, have finally been sold – to Melbourne-based Premier Solar – completing a salutary tale about...