03 Apr '12, 1pm

Solar Struggles Continue: Q-Cells to File for Bankruptcy: Filed under: Energy News

Germany's Q-Cells, a solar industry giant that helped usher in a new era of solar energy, announced Monday that it will file for bankruptcy, but that it will continue to work to restructure. In a statement released by the company , “the Executive Board and the preliminary insolvency administrator will work together to secure the continuity of the company within the insolvency proceedings.” The move follows an unrelated higher court ruling on Friday that Q-Cells says limits its ability to move ahead with a debt restructuring plan. The filing is the most prominent to date in the recent shake-out hitting the solar industry. The drastic drop in photovoltaic module pricing, the oversupply that has remained a drag on the industry and drastic subsidy cuts in Europe and beyond continue to put extreme pressure on solar manufacturers. Nowhere, perhaps, has this confluence of factors...

Full article: http://www.altenergystocks.com/archives/2012/04/solar_str...

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