Solarhybrid AG is filing for insolvency due to illiquidity before the local court in Arnsberg, Germany, weeks after listing project failures following the cuts in the German feed-in tariff for solar.
The insolvency follows the proposed changes to the German Renewable Energy Act (EEG), which reduces the feed-in tariff for ground-mounted solar photovoltaic (PV) installations by more than 30%, and which could eliminate the support for installations over 10 MWp.
Earlier this month, Solarhybrid said the proposed legislative changes would have significant repercussions on the profitability of the company and its solar PV projects, as it focuses on the development of projects with a capacity of at least 10 MWp.
The 150 MWp Neuhardenberg project would not be possible due to the scrapping of support for projects over 10 MWp. This would mean a loss of investments made thus far in this project in the amount of approximately € 7.5 million.
The Allstedt II would have limited possibility of realisation; and the Belling, Allstedt III and Fürstenwalde II would not be EEG compliant, and Solarhybrid is set to lose €4m in investments.
