A Dutch court has pronounced bankruptcy for renewable energy holdings company Econcern. Econcern consists of operating companies Ecofys, Evelop, Ecostream, Ecoventures and OneCarbon. Together the units developed renewable energy products and services.
Dutch utility Eneco has agreed to buy parts of Ecofys and Evelop,
and parts of activities in biomass. Both parties hope soon to also
reach an agreement to take over the activities of Ecostream. The purchase price was not disclosed.
Ecofys is the consulting arm of Econcern, and Evelop is its renewable
energy and energy efficiency project development arm. Ecostream is a
solar photovoltaic power system provider.
Further, the Amsterdam court granted on June 12, 2009 suspension of payments to Betronic Hybrid Circuits B.V. and Betronic Nederland B.V.
‘We are happy that in Eneco, with its excellent reputation in sustainable energy, we have found a suitable buyer. Their acquisition of core activities will mean over 400 people, in the Netherlands and abroad, will keep their jobs,” said Econcern administrators Louis Deterink and Willem Jan van Andel.
Econcern ranked No. 234 in Business Week’s top 500 listing of
high-growth companies in Europe and won the ‘European Business of the
Year Award 2008.’The company employed more than 1,000 people.
Econcern and German solar company Solon AG (SOO1.DE) a joint venture owners of polysilicon manufacturer Silicium de Provence SAS.
In April 2009, Satcon Technology Corporation (NASDAQ CM: SATC), signed a contract to supply Ecostream with 330 megawatts (MW) of solar PV inverters.