Wednesday, April 04, 2012

It’s German for Solyndra

Actually, you can extend that characterization for the entire “green” industry in Germany. Solar panel manufacturer Q-Cells is going into bankruptcy as a last-ditch effort to stay in business, or at least not ask for more subsidies, despite only existing because of subsidies from taxes attached to the using of non-phony power generation.
Q-Cells said it would file for insolvency after failing to agree a financial restructuring with all creditors.

The company said it would request the opening of insolvency proceedings at a court in Dessau, eastern Germany, on Tuesday, although executives hoped “to secure the survival of the company” while under administration.
It’s not just an isolated case either:
Fellow equipment maker Solon and Solar Millennium filed for creditor protection in recent months, and Solarhybrid, a company that planned, financed and built solar power stations, followed suit in the middle of March.

A penny stock since late last year, Q-Cells stock tumbled 41 per cent on Monday to close the day on the Frankfurt stock exchange at €0.13 per share. The company had listed some seven years ago at €38 per share.
Further to ‘keeping it unreal’, is the imagined cache they think it has:
Should Q-Cells’ administrator decide the company cannot emerge from insolvency on its own, he or she could try to find a buyer for what is still considered one of the strongest brands in the German – and European – solar sector.

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