{"id":19661,"date":"2016-11-04T09:00:01","date_gmt":"2016-11-04T03:30:01","guid":{"rendered":"http:\/\/www.greenworldinvestor.com\/?p=19661"},"modified":"2016-11-04T09:00:01","modified_gmt":"2016-11-04T03:30:01","slug":"solarworld-merrily-destroys-cash-for-shareholders-as-it-continues-slide-down-to-another-bankruptcy","status":"publish","type":"post","link":"https:\/\/iiec-india.org\/greenworld\/2016\/11\/04\/solarworld-merrily-destroys-cash-for-shareholders-as-it-continues-slide-down-to-another-bankruptcy\/","title":{"rendered":"Solarworld Merrily Destroys Cash for Shareholders as it Continues Slide down to Another Bankruptcy"},"content":{"rendered":"<h1><strong>Solarworld headed towards Bankruptcy<br \/>\n<\/strong><\/h1>\n<p><strong>Solarworld<\/strong> the German firm which used to be one of the largest solar panel producers in 2008 has become a shadow of its former self. While many of its peers have gone bankrupt (Q-Cells) or been bought over by Asian companies (REC), Solarworld continues in its merry ways of destroying value for its own shareholders and other companies as well. The company has been <strong>instrumental in setting up trade barriers<\/strong> between Europe\/USA on one hand and China\/Taiwan on the other. This has not helped the company much but increased prices for solar customers due to <strong><a href=\"http:\/\/www.greenworldinvestor.com\/2014\/11\/24\/us-anti-dumping-duties-create-dramatic-changes-in-global-solar-supply-chain\/\" target=\"_blank\" rel=\"noopener\">anti dumping duties<\/a><\/strong>. Just like leather and cloth industries migrated from the developed nations to developing ones, solar panel manufacturing has also migrated to low cost locations. However, <a href=\"http:\/\/www.greenworldinvestor.com\/2011\/07\/03\/solarworld-solar-panels-review-of-qualitypriceswarranty-of-sunmodules\/\" target=\"_blank\" rel=\"noopener\">Solarworld<\/a> does not see the shift and has been obstinately hanging onto its solar cell and panel manufacturing operations in USA and Germany despite losing millions of dollars every quarter.<\/p>\n<p><a href=\"http:\/\/www.greenworldinvestor.com\/wp-content\/uploads\/2016\/07\/Frameless-solar-panels.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-19175\" src=\"http:\/\/www.greenworldinvestor.com\/wp-content\/uploads\/2016\/07\/Frameless-solar-panels.jpg\" alt=\"Frameless solar panels\" width=\"350\" height=\"263\" \/><\/a><\/p>\n<p><strong><em>Also read <a href=\"http:\/\/www.greenworldinvestor.com\/2016\/09\/20\/dcr-or-anti-dumping-what-will-india-do-next\/\" target=\"_blank\" rel=\"noopener\">DCR or Anti-dumping \u2013 what will India do next?<\/a><\/em><\/strong><\/p>\n<p>The company continues to produce 350 MW of panels every quarter with negative EBITDA. Even in the scenario of rising \/ stable prices, it loses money. Despite having a small protected market, Solarworld has not made any money. The company was bailed out by rich Qatari investors a couple of years ago after it lost all of its net worth. Despite having no hope for the future, it continues to churn out a small amount of panels. Its marketshare has reduced to just 1.5% now from around 10% during the heydays of German solar manufacturing in 2008.<\/p>\n<p>The company is on the verge of becoming bankrupt again during the current down cycyle in solar manufacturing. Due to the quarterly losses and inventory write-downs, SolarWorld reported cash and cash equivalents of \u20ac84 million at the end of the third quarter, compared to \u20ac148 million at the end of the previous quarter, a 43% decline.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Solarworld headed towards Bankruptcy Solarworld the German firm which used to be one of the largest solar panel producers in 2008 has become a shadow of<span class=\"excerpt-hellip\"> [\u2026]<\/span><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_eb_attr":"","content-type":"","footnotes":""},"categories":[45],"tags":[446,5188],"class_list":["post-19661","post","type-post","status-publish","format-standard","hentry","category-solar-renewable-energy-greeninvest","tag-anti-dumping-duty","tag-solarworld"],"_links":{"self":[{"href":"https:\/\/iiec-india.org\/greenworld\/wp-json\/wp\/v2\/posts\/19661","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/iiec-india.org\/greenworld\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/iiec-india.org\/greenworld\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/iiec-india.org\/greenworld\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/iiec-india.org\/greenworld\/wp-json\/wp\/v2\/comments?post=19661"}],"version-history":[{"count":0,"href":"https:\/\/iiec-india.org\/greenworld\/wp-json\/wp\/v2\/posts\/19661\/revisions"}],"wp:attachment":[{"href":"https:\/\/iiec-india.org\/greenworld\/wp-json\/wp\/v2\/media?parent=19661"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/iiec-india.org\/greenworld\/wp-json\/wp\/v2\/categories?post=19661"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/iiec-india.org\/greenworld\/wp-json\/wp\/v2\/tags?post=19661"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}