By Karl-Erik Stromsta in London
Tuesday, September 03 2013
Updated: Tuesday, September 03 2013
At one time among Germany’s largest PV companies, Solon went bankrupt in 2011 and its key assets were acquired the following year by little-known UAE-based solar manufacturer Microsol.
As part of that deal, Microsol committed to maintaining at least one production line in Germany, as well as Solon’s headquarters in an eye-catching building on the outskirts of Berlin.
However, Microsol later confirmed its intention to focus future capacity expansions in the UAE and India, which it flagged up as a key market for the company going forward.
A year ago erstwhile Solon chief executive Stefan Säuberlich was replaced by Microsol man Anjaneyulu Turlapati.
In the meantime Solon has been fairly quiet, with no major deals or factories announced, suggesting Microsol's initial ambitions may have been blunted by the PV industry’s recent downturn. The Indian PV market has been slowed by the threat of anti-dumping tariffs on some foreign-made components.
Microsol's own website is out of date in many sections.
Much of Solon’s recent activity has come from its US-based subsidiary, which earlier this year completed a 5MW ground-mount project in Arizona, and last month named SunPower veteran John Kintz as managing director of the company’s project finance unit.
Solon’s latest order, in Bucharest, comes from Romanian client Atwar, a PV system-integrator owned by logistics company Elcyrom Realty & Development.
The 2.2MW commercial rooftop system will generate an estimated 2.8MWh of electricity each year, a minority of which will be consumed on-site, with the rest sold onto the grid for Green Energy Certificates.
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