Solar Woes Continue with Sovello's Bankruptcy Filing
RENEWABLE ENERGY WORLD - Sovello has joined a growing roster of solar companies that have filed for bankruptcy over the past year, the German company said Monday. The announcement came after another German solar manufacturer, Soltecture, filed for bankruptcy last Wednesday.
Sovello makes silicon wafers and turn them into cells and then panels, and it was once a joint venture of Q-Cells, Evergreen Solar and Renewable Energy Corp before being sold to Ventizz Capital Fund IV in 2010. Evergreen and Q-Cells, incidentally, also went bankrupt. Evergreen sold its core assets to China Private Equity Investment last November while Q-Cells is still doing business as it goes through the bankruptcy proceeding and works on lining up more money.