Solar developer Enerparc files for insolvency, operations to continue for now

Hamburg-based solar park developer Enerparc has filed for insolvency, but its operations will continue for the time being.

Hamburg’s local court appointed lawyer Stefan Denkhaus as preliminary insolvency administrator, according to the insolvency announcements portal. Denkhaus said he had begun talks with the company’s management, advisers and financiers in an effort to stabilize the business.

He also said a team at Enerparc was informing the company’s roughly 380 employees about the insolvency proceedings. Stabilizing operations and the group’s companies will be among the first tasks, he said.

Enerparc describes itself as one of Europe’s largest independent owners of solar parks, with about 5.5 gigawatts of installed capacity and more than 500 parks. Its core business covers the development, construction and operation of solar installations, as well as electricity marketing. The group also works on electricity storage infrastructure and substations.

Denkhaus said insolvency applications by sister companies were currently possible, although it remained too early to make a clear assessment.

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I am already holding initial talks with the management, the company’s advisers and the financiers to stabilize the company.