Another prolific solar installer has been shuttered since early 2025 amid a wave of closures. Posigen and other affiliated business entities filed for bankruptcy in the Texas Southern Bankruptcy Court on Monday.
These affiliated companies include: Posigen CT, Posigen Developer and Posigen Holdings – all limited liability companies.
The national residential solar company laid off most of its staff in August has submitted three more Worker Adjustment and Retraining Notifications (WARN) in Connecticut, the latest on November 14. Two of Posigen’s Connecticut locations have closed, and the third will cease operations and terminate employment on December 6.
In its initial WARN filing, the company stated plans to remain open with a reduced workforce and continue operations if it could secure additional financing. According to the employee’s termination letter, Posigen had missed credit payments, attributing the layoffs to this and allowing the tax credits from the One Big Beautiful Bill Act passed in July to disappear.
“We are now writing to confirm that while the company has secured some additional financing from its lender and is still actively seeking additional financing from its lender, such financings will only enable the company to continue operations for a temporary period – at the end of which the company will cease all operations,” the Nov. 14 report said. Submit WARNING states.
Since 2023, investment company Brookfield Asset Management has invested $600 million in Posigen. The company primarily built solar projects for underserved communities and low- to moderate-income customers.
