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SolarWorld

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SolarWorld AG
Company typeAktiengesellschaft
FWB: SWV
IndustryPhotovoltaics
Founded1988
HeadquartersBonn, Germany
Key people
Frank H. Asbeck (founder and CEO), Georg Gansen (Chairman of the supervisory board)
ProductsSolar cells, wafers,
PV modules and systems
RevenueDecrease €803,066 (2016)[1]
Decrease €63,400 (2016)[1]
€87.3 million (2010)[2]
Total assetsDecrease €686,943 (2016)[1]
Total equityDecrease €121,808 (2016)[1]
Number of employees
Increase 3,034 (incl. temporary workers) (2016)[1]
SubsidiariesSolarWorld Innovations GmbH
SolarWorld Industries Sachsen GmbH
Websitewww.solarworld.com

SolarWorld is a German company dedicated to the manufacture and marketing photovoltaic products worldwide by integrating all components of the solar value chain, from feedstock (polysilicon) to module production, from trade with solar panels to the promotion and construction of turn-key solar power systems. The group controls the development of solar power technologies at all levels in-house.

SolarWorld AG is listed on the Frankfurt Stock Exchange,[3] the Photovoltaik Global 30 Index and the ÖkoDAX.

The company filed for bankruptcy in 2017.

History

SolarWorld was founded in 1988 as individual company by engineer and chief executive officer Frank Asbeck,[4] and engaged in projects to produce renewable energy.[5] In 1998, these activities were transferred to the newly founded SolarWorld AG, which went public on 11 August 1999.[5]

In 2006 Shell divested its crystalline silicon solar business activities to SolarWorld.[6]

SolarWorld has received German Sustainability Award in the category of "Germany’s Most Sustainable Production 2008".[7]

Since 2010 the company has a joint venture with Qatar Solar Technologies (QSTec).[8] Due to a financial crisis, Solarworld was restructured and QSTec became the largest shareholder in 2013.[9][10]

In 2012, Washington, D.C. based law firm, Wiley Rein, was hacked. According to Bloomberg News, the hackers wanted information about the German manufacturer SolarWorld. SolarWorld's computers were hacked about the same time.[11]

In 2016, SolarWorld started ‘gradually’ migrating cell production to PERC and five busbar technology. At the core of SolarWorld’s high-tech strategy is migrating all solar cell production to PERC (Passivated Emitter Rear Cell) technology and moving from three busbars to five in order to boost conversion efficiencies and limit capital expenditures at the same time as these changes are relatively simple and low-risk ramps, compared to entire new cell concepts such as heterojunction, according to Neuhaus at PV CellTech. SolarWorld’s PV CellTech presentation also revealed that average efficiencies of PERC cells in high-volume production had achieved 21.4%, resulting in PV module power distribution average of 303.3W. SolarWorld has also developed a bi-facial version of its current PERC cell that has entered production and more capacity is expected to be allocated to bi-facial cells and modules.[12]

On May 10, 2017, SolarWorld AG filed for insolvency citing “ongoing price distortions” and “no longer a positive forecast for the future”.[13] According to Mr. Piepenburg, the administrator, it is now of major importance to maintain business operations as smoothly as possible.[14] In May 2016, a lawsuits brought by U.S. silicon supplier Hemlock was reported as "threatening the continued existence of the company" with damage claims up to $770 million.[15] SolarWorld Americas Inc., based in Hillsboro, Ore., is operating as usual and maintaining full operations as it produces and sells its market-leading solar technology. However, SolarWorld Americas, the largest U.S. crystalline-silicon solar manufacturer for more than 42 years, is continuing to implement efficiencies and working with external partners to position the company for stabilization and a continued competitive position in the marketplace.[16] Solarworld USA spokesman Ben Santarris said the company is sticking with the assumption of continuing normal operations, and continues to work with suppliers and customers to determine what the right size of the company should be going forward.[17]

Facilities

Within the SolarWorld Group many specialized workers are employed in the enterprise's units located in Bonn (headquarters), Freiberg, and Hillsboro, Oregon (US headquarters).

The business also has a facility in Hillsboro, Oregon. The newer Hillsboro factory was purchased in 2007 from Japan's Komatsu Group.[18] It is the largest solar cell manufacturing facility in North America.[19]

International distribution center in Bonn, Germany in Bonn, Germany

In 2013 SolarWorld took over production from Bosch Solar Energy in Arnstadt and continued to employ about 800 workers.[20]

SolarWorld AG has sales offices in Germany, Spain, USA, South Africa, UK and Singapore.

Grid parity

Main article: Grid parity

In 2010, SolarWorld called for lowering Germany's lucrative solar feed-in tariffs and its CEO, Frank Asbeck, supported a 10 percent to 15 percent drop for the incentives. In 2011, utility-scale solar power stations achieved grid parity for domestic consumers as guaranteed tariffs fell below retail electricity prices. Feed-in tariffs continued to drop well below the gross domestic electricity price. Since the beginning of 2012, newly installed, small rooftop PV system also have achieved grid parity.[21]: 11  The current policy is to revise tariffs on a monthly basis reducing them by 1 percent unless actual deployment does not meet agreed upon targets. As of spring 2015, tariffs ranged from 8 to 12 euro-cents per kilowatt-hour depending on the PV system's size.[22]

Vehicles

The solar car SolarWorld No. 1

SolarWorld is the main sponsor of the SolarWorld No. 1 solar car developed by the FH Bochum SolarCar Team.[23]

On 19 November 2008, SolarWorld AG announced a bid to buy German automaker Opel from General Motors.[24] The bid was for 1 billion Euro, 250 million being paid in cash and 750 million being paid in bank credits. SolarWorld specified conditions such as Opel should be split from General Motors.[25] Solarworld announced that it intends to create the first electric automotive OEM. However, GM rejected the bid saying "Opel is not for sale".[26]

References

  1. ^ a b c d e "Annual Report 2016" (PDF). SolarWorld. Retrieved 27 July 2017.
  2. ^ "Report 2010" (PDF). SolarWorld.
  3. ^ "Solarworld AG (Frankfurt Stock Exchange)". Reuters. Retrieved 2008-11-19. {{cite news}}: Italic or bold markup not allowed in: |publisher= (help)
  4. ^ "SolarWorld AG Company Profile". Yahoo! Finance. Retrieved 2008-11-19. {{cite web}}: Italic or bold markup not allowed in: |publisher= (help)
  5. ^ a b "SolarWorld FAQs". SolarWorld AG. Retrieved 2008-11-19. {{cite web}}: Italic or bold markup not allowed in: |publisher= (help)
  6. ^ "Shell Announces Additional Hydrogen Stations in US and Wind and Solar Power MoUs". Green Car Congress. Retrieved 2008-11-27. {{cite web}}: Italic or bold markup not allowed in: |publisher= (help)
  7. ^ http://www.dgap.de/link.php?sprache=en&a=10&v=en&von=19970101&typ=news&isin=DE0005108401&id=393370
  8. ^ http://www.solarworld-usa.com/newsroom/news-releases/news/2010/solarworld-concludes-joint-venture-with-qatar-foundation
  9. ^ http://www.berliner-zeitung.de/wirtschaft/neuer-partner-qatar-solar-solarworld-schoepft-wieder-hoffnung-3166686
  10. ^ http://www.qstec.com/about/joint-ventures/solar-world-ag
  11. ^ Sobowale, Julie (2017). "Large or small, law firms are learning they must deal with cybersecurity". ABA JOURNAL. 103 (3): 34–43.
  12. ^ "SolarWorld 'gradually' migrating cell production to PERC and five busbar technology". PV Tech.
  13. ^ "BREAKING: SolarWorld files for insolvency". pv magazine USA. Retrieved 2017-05-10.
  14. ^ "Single Press releases". SolarWorld.
  15. ^ Weaver, John Fitzgerald (2016-05-25). "SolarWorld is reportedly a bankruptcy risk due to Hemlock lawsuit". Electrek. Retrieved 2017-05-10.
  16. ^ "Newsroom". www.solarworld-usa.com.
  17. ^ "SolarWorld files notice of potential restructuring in Hillsboro". OregonLive.com.
  18. ^ "Solarworld comes to Hillsboro". American City Business Journals. 2007-03-01. Retrieved 2008-11-19. {{cite news}}: Italic or bold markup not allowed in: |publisher= (help)
  19. ^ "SolarWorld Opens North America's Largest Solar Cell Manufacturing Facility" (Press release). SolarWorld. 2008-10-17. {{cite press release}}: Italic or bold markup not allowed in: |publisher= (help)
  20. ^ http://www.pv-tech.org/news/official_solarworld_signs_deal_with_bosch_to_buy_cell_module_facilities_in
  21. ^ "Recent facts about photovoltaics in Germany" (PDF). Fraunhofer ISE. 7 January 2015. Retrieved 17 February 2015.
  22. ^ "Photovoltaikanlagen: Datenmeldungen sowie EEG-Vergütungssätze" [Monthly reported new installations of PV systems and current feed-in tariffs] (in German). Bundesnetzagentur. Retrieved March 2015. {{cite web}}: Check date values in: |accessdate= (help)
  23. ^ "The Team". SolarWorld No. 1. Retrieved 2008-11-20.
  24. ^ Christoph Hammerschmidt. "Solar company announces bid for General Motors subsidiary Opel". Electronic Engineering Times. Retrieved 2008-11-27. {{cite web}}: Italic or bold markup not allowed in: |publisher= (help)
  25. ^ "German group SolarWorld bids 1bln euros for Opel". Yahoo!7. Retrieved 2008-11-18. {{cite web}}: Italic or bold markup not allowed in: |publisher= (help)
  26. ^ GM rejects bid

Further reading

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