The German PV project developer Fellensiek Projektmanagement GmbH & Co. KG (FPM Projektmanagement) has filed for bankruptcy due to liquidity problems.
The Wilhelmshaven District Court in northern Germany ordered provisional bankruptcy administration for Fellensiek and appointed Christian Kaufmann of Pluta Rechtsanwalts GmbH as provisional trustee on September 3.
Kaufmann said business operations will continue with the 20 employees and their salaries will be guaranteed for three months. The bankruptcy is due to claims amounting to “millions” of euros from an unnamed investor. Although the holding company is affected, the group’s twenty project companies are not part of the insolvency proceedings.
“In the coming weeks we will analyze what options are possible for Fellensiek,” said Kaufmann. “To this end, we will conduct negotiations with interested parties who want to take over its photovoltaic projects.”
FPM Projektmanagement – founded in 2012 in Jever, Germany – originally focused on wind farms. It now specializes in the development of large PV systems. It rents roof space for its projects and handles planning, financing, construction and operation, in addition to supplying electricity to the grid. FPM Projectmanagement also sells solar energy systems to third parties.
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