INNOTECH SOLAR acquires ENERGIEBAU
GERMANY – Innotech Solar, the Scandinavian/German manufacturer of PV modules, has purchased the assets of the insolvent company Energiebau Solarstromsysteme GmbH, which will now become a wholly Innotech Solar AS owned subsidiary and will henceforth operate under the name of Energiebau SOLAR POWER GmbH.
The details of the transaction have not been disclosed. Energiebau filed for bankruptcy in October 2014, due to the difficult market situation in Germany. The recovery has been officially confirmed by the insolvency administrator Mr. Andreas Rinstmeier. The two former Energiebau managers, Michael SCHÄFER and Rene MEDAWAR, will continue to take charge of the business operations of the new Energiebau Solar Power GmbH. In addition, they will be responsible for the cooperation of the company with the public energy services and project activities in Africa.
Energiebau will supply Innotech Solar with its customer base, thereby trying to strengthen its market position in Germany. Current Innotech customers will also benefit from the new agreement since it can now offer these existing customers a full range of PV system components. Michael SCHÄFER (CEO and founder of Energiebau) explained that Innotech Solar offers a “sustainable perspective” to Energiebau. He added, “A constructive cooperation with the insolvency administrator and the committed support of staff and partners enabled the preservation of the Energiebau brand and of a majority of jobs. We also offer our longstanding customers continuity of service, support and supply.”