Centrotherm Joins the List of German Solar Insolvencies

SolarServer
centrotherm photovoltaics AG (Blaubeuren, Germany) on July 10th, 2012 has submitted an application to the relevant District Court of Ulm for the launching of insolvency protection proceedings (pursuant to the German Act Relating to the Further Simplification of the Reorganization of Companies [ESUG], and Section 270b of the German Insolvency Directive [InsO]), and for the opening of insolvency proceedings under its own administration in connection with this application.

GTM

German photovoltaic panel manufacturers are faced with reduced feed-in tariffs, increased competition from China, and a global oversupply of solar modules. Solar manufacturing tool and production line vendors vendors like centrotherm are faced with the same massive and persistent solar overcapacity.  GTM Research (...) estimates module supply to be in excess of global demand by nearly 100 percent this year, or roughly 59 gigawatts of total supply compared to 30 gigawatts of total demand. It's a dire situation for any equipment vendor. Centrotherm joins Germany's Q-Cells, Soltecture, Odersun, Inventux, Solar Millennium, Solarhybrid, and Sovello in the group of the country's extremely troubled or shuttered PV firms. Q-Cells was Germany's -- and once the globe's -- largest solar manufacturer. It is now on the brink of bankruptcy. As Shyam Mehta, GTM Senior Solar Analyst, has said, "'Consolidation' is a nice word that refers to a lot of ugly things.”