ANALYSIS: Conergy and Europe's ills

The tariffs debate has divided the German solar industry

Conergy's plight shows the tight margins in the solar industry

Just when the first signs appeared that at least part of Europe’s solar manufacturing base may recover, Conergy unexpectedly filed for insolvency – two days after inverter-maker SMA announced it will cut 700 jobs. The news bodes badly for other struggling solar firms.

Conergy was among a small number of companies that could hope for a return to profits this year or next, after painfully reversing its over-extension across the solar value chain by shedding its wafer, inverter and cell production. The Hamburg-based PV group had also said ‘goodbye’ to its ventures into other renewables such as wind and biogas.

A downsized Conergy had said it hoped to return to at least an operating profit this year.

Sure enough, there was an element of bad luck involved. The company claims to have been close to a Log in to read complete article.

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