SolarWorld falls on debt warning

Shares in German PV giant SolarWorld plunged after it warned creditors that it needs to undergo significant restructuring of its debts.

Europe’s largest solar module manufacturer says it faces “serious adjustments on the debt side” following a review of the company's business strategy by external experts, specifying two of its bonds.

The news sent SolarWorld's shares down by more than 25% to €1.18  in mid-morning trading in Germany. The shares were changing hands for more than €4 in February 2012.

However, SolarWorld adds that it expects to agree a deal and remain a going concern.

A statement says: “SolarWorld AG is of the opinion that there is a predominant degree of Log in to read complete article.

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