The company claimed to have been the victim of an international scam, was defrauded of a large number of components, and lost millions of dollars.
Text: Ne-Salon New Energy Gathering Group
Nowadays, when everyone talks about the photovoltaic industry, a word that cannot be bypassed is "overcapacity", in this context, the first of the entire photovoltaic industry chain will decline significantly in 2023, triggering a fierce war, and many domestic small-scale and technologically backward enterprises have tragically "died" in this battle without gunpowder. The domestic photovoltaic market is so fierce, in fact, foreign counterparts are not having a good time.
Recently, the author learned that Energetica, a 28-year-old Austrian photovoltaic module manufacturer, filed for bankruptcy with the Klagenfurt District Court in Austria. This is the second time since 2021 that the company has filed for bankruptcy.
PV veterans filed for bankruptcy twice in three years, why?
In 1995, with the vision of "affordable and clean energy for all", the Energetica Group was founded in Liebpenfels, Austria. Relying on beautiful, high-performance, safe and durable photovoltaic modules, Energetica has quickly developed into a high-quality manufacturer of smart photovoltaic modules, becoming one of the leading photovoltaic brands in Europe.
In 2018, Energetica invested in the construction of what is claimed to be Europe's largest super PV module factory in LiebenfelsIn the spring of 2019, the plant was put into operation. The company says the plant has the most advanced technology and production facilities in continental Europe, with an annual production capacity of gigawatts, which can basically meet the installed capacity of Austria in the next 10 years. The factory is also installed above the 2The 7MW rooftop solar system can continuously deliver electricity to the room, which allows the plant to achieve "zero emissions" even at full load. It is reported that the cells of the energetica super photovoltaic module factory are imported from China, and then assembled into final products in Austria.
However, at the end of October 2021, Energetica filed for bankruptcy with the Klagenfurt Regional Court after claiming that due to the impact of the coronavirus pandemic, the company had a debt of 24.8 million euros and could not continue to meet its current payment obligations. But just four months later, Irma Power GmbH, a Vienna-based investment company, acquired all of Energetica's shares through a competitive bid. Thanks to the strong financial strength of the new shareholders, Energetica soon resumed normal production with an annual production capacity of 350 MW.
However, this "revival" did not last long, in December 2023, energetica had a debt of 200,000 euros (equivalent to 1.55 million yuan), and the company filed for bankruptcy again with the Klagenfurt District Court in Austria. As for the reason for the bankruptcy, Energetica said that at the beginning of 2023, the company was defrauded of thousands of solar modules and the amount of damage reached millions of dollars. At the same time, the company issued a statement that the sharp decline in the European photovoltaic market** has led to a business crisis for the company. "PV wholesalers' warehouses are flooded with modules from China, which are flowing into the market at almost dumped prices, which leads to a near-devastating competitive environment. Said the head of energetica.
At present, the company has not announced a new "successor" shareholder.
Conclusion
Ne-Salon believes that it is not difficult to see from the case of Energetica's repetition for bankruptcy: at present, whether at home or abroad, the photovoltaic industry seems to have entered a cold winter, but please do not give up hope. As the main force of energy transition, photovoltaics are bound to rise again in the future.
Finally, he ended with a sentence: "Today is cruel, tomorrow is even more cruel, and the day after tomorrow is beautiful." Many people will die tomorrow night and will not see the sun the morning after tomorrow. "All photovoltaic people come on, spend the photovoltaic winter together, and welcome the dawn!**NE-SALON