The
company,
based
in
Hamburg,
filed
to
open
insolvency
proceedings
in
a
court
there
on
24
April.
It
describes
the
process
as
similar
to
Chapter
11
in
the
US.
The
vendor
manufacturers
and
sells
500kW
to
2.5MW
turbines
for
small
and
medium-size
community-scale
wind
projects
in
Eastern
and
Southern
Europe.
“Substantial
project
delays
mainly
caused
by
difficulties
within
financial
institutions
in
these
regions
have
led
to
negative
impacts
on
the
business,”
PowerWind
says.
The
company
claims
that
given
its
“excellent
reputation
in
the
market,”
management
is
confident
that
it
can
be
restructured
quickly
and…
