Suniva Solar Panels Bankruptcy

Suniva was founded by georgia tech s ajeet rohatgi and for awhile was a rising star with its high efficiency solar panels.

Suniva solar panels bankruptcy.

But suniva is not. The bankruptcy by suniva one of the nation s largest solar cell makers comes only weeks after the company laid off most of its workers at its gwinnett county headquarters and manufacturing plant. Pv cell and module maker suniva. Suniva filed for chapter 11 bankruptcy protection last april.

Last month solar installer sungevity joined that list and this month solar panel manufacturer suniva filed for bankruptcy citing competition from cheap asian solar panels. Suniva has filed voluntarily for chapter 11 bankruptcy two weeks after laying off 131 employees without notice and closing its 200 mw module factory in michigan. Norcross georgia based suniva filed for chapter 11 bankruptcy in april 2017. Todd duncan suniva the norcross based builder of solar cells and modules has filed for voluntary chapter 11 bankruptcy according to documents filed with the u s.

Suniva the chinese owned us based solar manufacturer which instigated the section 201 trade case that led to the imposition of 30 tariffs on all imported solar cells and modules has been. The company s financial troubles appear to be quite serious as it reports assets of 10 50 million but ten times that many liabilities. Yesterday the latest company fell victim to a global environment of oversupply and unsustainably low prices. Georgia based panel manufacturer suniva which also had a plant in michigan but was chinese owned declared bankruptcy in april and then filed a section 201 petition with the itc.

But the company filed for bankruptcy protection in april 2017 unable to. Shortly after the georgia based solar manufacturer filed a section 201 trade case seeking relief from destructive foreign trade.