Scheuten Solar, which manufactures glass-glass photovoltaic modules and building integrated photovoltaic (BIPV) solutions, filed for insolvency at the end of February, after it was unable to maintain its business activities in the face of high inventories and tight margins.
Now, three months later, the company has announced that Guangdong Aiko Solar Energy Technology Co., Ltd (Aikosolar), which also owns Chinese project developer, Powerway Renewable Energy, has taken over the "essential components" of Scheuten Solar.
The two companies are said to complement each other, due to Scheutens "robust" brand and "innovative" product portfolio, Aikosolars financial strength and Powerways EPC experience. "The combination sees Scheuten Solar engaged in a synergy with its natural ideal partner, giving rise to a powerful solar solution provider for distribution as well as project solutions," stated Perry Verberne, CCO of Scheuten Solar.
In a separate statement released, Powerway added that the new partnership intends to develop both ground-mounted and rooftop projects in Europe. Furthermore, Scheuten Solar will aim to sell around 200 megawatts of modules annually, "which will bring [it] back in the position as a top brand in the European PV market."
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
1 comment
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.