The solar shakeout continues as Solar Trust of America, the U.S. unit of Solar Millennium AG, and German-based Q-Cells, formerly the world’s largest solar cell maker, both filed for bankruptcy in the past few days.
Solar Millennium AG, based in Germany, cut funding to Solar Trust, as it began undergoing insolvency proceedings in December. It is in the process of building one of the largest solar arrays in the world in Southern California, the Blythe Solar Power Project, and it’s unclear how the bankruptcy will affect that project, says Reuters.
Q-cells has production facilities in Germany and Maylasia and is one of the biggest renewable energy employers in Germany.
Three other German solar companies have filed for insolvency the past four months, including: Solon SE (SOO1), Solar Millennium AG (S2M) and Solarhybrid AG (SHL), according to Bloomberg.
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