The German solar company Fellensiek has filed for insolvency due to financial difficulties. The company, known for developing photovoltaic projects, is now exploring possible solutions to recover.
Fellensiek, a solar firm based in Jever, has filed for insolvency due to liquidity problems. On September 3, 2024, the Wilhelmshaven District Court appointed Christian Kaufmann from the law firm Pluta as the provisional insolvency administrator, according to a statement from the firm. Kaufmann will now assess how the solar project developer can be restructured.
The wages of the company’s 20 employees are secured for the next three months through the insolvency benefits provided by the Federal Employment Agency. The insolvency stems from significant financial claims made by an investor, amounting to millions. The Fellensiek Projektmanagement GmbH & Co. KG, the parent company, oversees around 20 subsidiary project companies. However, these subsidiaries are not affected by the insolvency proceedings.
Business operations to continue, negotiations with partners planned
Kaufmann has confirmed that business operations will continue during this period. He stated, “We will now thoroughly examine the company’s financial situation and hold discussions with all business partners.” In the coming weeks, the team will analyze possible solutions for the solar firm. “We will engage in negotiations with potential buyers interested in acquiring the PV projects,” Kaufmann added.
Managing director Torsten Fellensiek described the situation as “challenging” but expressed hope for a resolution. “We are optimistic that, together, we can find solutions. We will provide full support to the provisional insolvency administrator,” he said.
A decade of solar project development
Fellensiek Projektmanagement GmbH & Co. KG (FPM) was founded in 2012 in Jever, Lower Saxony. Initially focused on wind energy projects, the company has since shifted to the development and implementation of photovoltaic (PV) projects, with operations in both Germany and Spain.
