SolarWorld collapses as Europe's solar industry eclipsed by China

Christoph Steitz for Reuters:  Europe's embattled solar power industry has been dealt a fresh blow, with cut-price competition from China driving Germany's SolarWorld (SWVKk.DE) into insolvency and wiping out quarterly profits at SMA Solar (S92G.DE).

Shares in SolarWorld, which employs around 3,000 people and was once Europe's largest solar panel maker, plunged about 80 percent on Thursday after the group said it would file for insolvency.

"This is a bitter step for SolarWorld, the management board and staff and also for the solar industry in Germany," said Chief Executive Frank Asbeck, known as the "Sun King" in the German solar industry's heyday.

SMA Solar, the world's largest maker of solar inverters which help feed solar power into electricity networks, also reported a 90 percent drop in first-quarter operating profit, citing "high price pressure in all markets and segments".  Full Article:

Comments (0)

This post does not have any comments. Be the first to leave a comment below.


Post A Comment

You must be logged in before you can post a comment. Login now.

Featured Product

OMG Roofing Products  - PowerGrip Universal

OMG Roofing Products - PowerGrip Universal

Eliminate Solar Rack Ballast and Reduce Rooftop Material Handling. PowerGrip™ Universal (PGU) is a commercial roof mount system designed to secure solar racks and other equipment to any type of commercial roofing system. PGU provides a secure connection directly to the roof deck or structural members and is designed to reduce or eliminate ballast in solar racking systems, so there's less weight on the roof and less material handling. Made of heavy-duty cast aluminum, PGU units include a base ring which is secured through the roofing cover and into the structural roof deck, and a waterproof top plate.