History
SolarWorld was founded in 1988 as individual company by engineer and chief executive officer Frank Asbeck,[14] and engaged in projects to produce renewable energy. In 1998, these activities were transferred to the newly founded SolarWorld AG, which went public on 11 August 1999.[15]
In 2006 Shell divested its crystalline silicon solar business activities to SolarWorld.[16]
SolarWorld has received German Sustainability Award in the category of "Germany’s Most Sustainable Production 2008".[17]
Since 2010 the company has a joint venture with Qatar Solar Technologies (QSTec).[18] Due to a financial crisis, Solarworld was restructured and QSTec became the largest shareholder in 2013.[19][20]
In 2012, Washington, D.C.–based law firm, Wiley Rein, was hacked. According to Bloomberg News, the hackers wanted information about the German manufacturer SolarWorld. SolarWorld's computers were hacked about the same time.[21]
In 2016, SolarWorld started ‘gradually’ migrating cell production to PERC and five busbar technology. At the core of SolarWorld's high-tech strategy is migrating all solar cell production to PERC (Passivated Emitter Rear Cell) technology and moving from three busbars to five in order to boost conversion efficiencies and limit capital expenditures at the same time as these changes are relatively simple and low-risk ramps, compared to entire new cell concepts such as heterojunction, according to Neuhaus at PV CellTech. SolarWorld's PV CellTech presentation also revealed that average efficiencies of PERC cells in high-volume production had achieved 21.4%, resulting in PV module power distribution average of 303.3W. SolarWorld has also developed a bi-facial version of its current PERC cell that has entered production and more capacity is expected to be allocated to bi-facial cells and modules.[22]
On May 10, 2017, SolarWorld AG filed for insolvency citing “ongoing price distortions” and “no longer a positive forecast for the future”.[23] According to Mr. Piepenburg, the administrator, it is now of major importance to maintain business operations as smoothly as possible.[24] In May 2016, a lawsuit brought by U.S. silicon supplier Hemlock was reported as "threatening the continued existence of the company" with damage claims up to $770 million.[25][26]
The German facilities of SolarWorld were purchased by its founder Frank Asbeck in conjunction with Qatar Solar Technologies. Three days later, an appeals court upheld the verdict in the Hemlock case, resulting in SolarWorld AG being responsible to pay the damage claims.[27]
SolarWorld Americas, the largest U.S. crystalline-silicon solar manufacturer for more than 42 years, is continuing to implement efficiencies and working with external partners to position the company for stabilization and a continued competitive position in the marketplace.[28] Solarworld USA spokesman Ben Santarris said the company is sticking with the assumption of continuing normal operations, and continued to work with suppliers and customers to determine what the right size of the company should be going forward.[29]
On August 18, 2017, however, news came that the German administrator of SolarWorld AG's bankruptcy had put SolarWorld Americas up for sale, though no potential buyers had been identified at that time. The US-based subsidiary, which reportedly produced half of "SolarWorld" branded modules worldwide, was put "in something of a limbo" by the bankruptcy and a spokesperson stated the company had entered an "open ended" mergers and acquisitions process.[30]
In April 2018, Solarworld Americas was purchased by SunPower Corporation, seeking to expand their manufacturing capacity in the US. [9] However, they soon decided to scale back their production due to shifts in the solar power industry, and finally decided to close their Hillsboro facility in January 2021, likely due to effects of the COVID-19 pandemic. [31]
