German solar operator Enerparc files for insolvency with €3 billion debt load
The Hamburg-based solar park owner Enerparc filed for insolvency at the Amtsgericht Hamburg in early September, citing debts of roughly €3 billion. A €200 million financing that fell through at the end of June left the company without sufficient equity. Preliminary administrator Stefan Denkhaus will oversee operations, which continue for now, and will seek a buyer to maximize creditor returns. A sister firm, PV-Werk, has also entered insolvency.
Enerparc, one of Europe’s largest independent solar-park owners with more than 500 sites and about 380 staff, submitted an insolvency petition to the Hamburg court in early September. The filing follows the failure of a €200 million project-financing deal in late June, leaving the company unable to meet its €3 billion debt obligations. Attorney Stefan Denkhaus was appointed as preliminary administrator and confirmed that park operations will remain active while an international sale process is launched to achieve the best outcome for creditors.
The company’s sister entity, PV-Werk, which constructs solar parks and battery storage, has likewise filed for insolvency. The case highlights ongoing profitability challenges for European renewable-energy firms amid low or negative electricity prices.
