Follow us on Twitter Follow us on Facebook View our linked in profile View our RSS feeds
SustainableBusiness.com
 
News
Your daily source for sustainable business & sustainable investor news.

(view sample issue)


This is an archived story. The information and any links may no longer be accurate.

04/05/2012 03:18 PM     print story email story  

More Solar Companies File for Bankruptcy

SustainableBusiness.com News

Two more solar companies have filed for bankruptcy, Q-Cells and Solar Trust.

Q-Cells, once the largest solar cell maker in the world, helped usher in the solar industry in Germany. The company, which has been heaving under the weight of low-cost Chinese manufacturers for the last few years, and now severe subsidy cuts, says it will attempt to restructure.

At its peak in 2008, Q-Cell's stock reach $150 - now it's $0.16.

The company has been trying hard to reduce costs and diversify its business into project development and into both PV and thin-fillm solar cells.

The other company to go bankrupt is Solar Trust of America, the developer of the world's largest solar project, the 1,000 megawatt (MW) Blythe project in California.

When its parent company Solar Millennium, filed for bankruptcy in December,  Solar Trust said it would continue. But with so many project development costs, it couldn't go on without funding from Solar Millennium.

Another casualty of very low solar PV prices, Blythe, which was originally planned as a solar concentrating plant, changed to a solar PV plant because prices were so much lower.

Solar Trust has some 2,000 MW of projects in advanced stages of permitting in California and Nevada. It's likely that a buyer will step in.

Last December, Solon, Germany's first publicly traded solar company, going public in 1998, filed for bankruptcy. Another early leader, Evergreen Solar, and SpectraWatt also filed last year.

Here are more details on Solar Trust and the Blythe project:

Website: www.solarindustrymag.com/e107_plugins/content/content.php?content.10037



Reader Comments (3)

Author:
Mary J

Date Posted:
04/05/12 10:16 PM

There are so many solar opportunities in the United States. Those opportunities will create jobs and revenue for the U.S. We need to spearhead a program to develop more affordable solar panels here and limit the competition with China!

Report this post

Author:
AJ

Date Posted:
04/05/12 02:03 AM

As of 1 day ago I worked at the project in blythe. This project is a real solution to the green energy shortage I believe if obamma wants this to work he needs to make it a government funded project, enough with the private sector and the country can run the plant and reap the profits.

Report this post

Author:
Smart Energy

Date Posted:
04/06/12 02:08 PM

Sustainable energy is the way of the future, but unsustainable business practices, wasted taxpayer money, and forced market creation is not something to be proud of. Sustainability is not just for critical energy needs, its critical for these businesses to get their act together before they get more funding.

Report this post

Add Your Comment

(Use any name, your real name is not required)
Type the characters you see in the picture below.

home |about us |contact us |advertise |feeds |privacy policy |disclosure

Compare Green Cars   |   Find Alternative Fueling Stations