Insolvent solar firm Fellensiek triggers strong interest

Over 50 parties have expressed interest in acquiring insolvent German PV project developer Fellensiek Projektmanagement GmbH & Co KG as a whole group or in buying individual companies, law firm Pluta said Thursday.

The statement was made only days after Fellensiek filed for insolvency as it faced liquidity difficulties because of claims from an investor.

A structured merger and acquisition (M&A) process will now be initiated, Pluta said.

“We will hold in-depth discussions over the coming days and weeks to find one all-encompassing follow-up solution or various individual solutions,” provisional insolvency administrator Christian Kaufman said.

To facilitate the process of finding an investor for the group as a whole, the court in the German town of Wilhelmshaven has ordered provisional insolvency administration for the assets of two companies from Fellensiek Group – FPM alphabet capital GmbH & Co KG and Fellensiek Beteiligungs GmbH. No other companies in the group are involved in the proceedings.

FPM alphabet has no employees and owns shareholdings in two firms that operate photovoltaic systems in various locations across Germany. Fellensiek Beteiligungs GmbH is the general partner of the project companies not affected by insolvency.

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