After more than a year of uncertainty in France’s photovoltaic sector, renewable energy developer EverWatt was placed into receivership on July 25 by the Paris Economic Activities Court. The ruling also brought down the broader EverWatt Group and its subsidiary BoucL Énergie, which specialized in self-consumption projects.

The move came after EverWatt’s main financial backers withdrew support earlier this year and again in August. A previous administration procedure in April had failed to turn the company around. The collapse has resulted in the layoff of about 50 employees and left EverWatt’s solar assets seeking buyers.

According to Jérôme Owczarczak, former CEO of EverWatt Group and now technical advisor to the liquidator, the downfall illustrates the wider risks facing France’s renewable energy sector.

“Faced with a severe lack of visibility regarding their future, the two investment funds with stakes in our capital, Transition Evergreen and Conquest, decided to successively withdraw, precipitating the cascading collapse,” he said.

EverWatt’s heavy spending on hydrogen projects in 2021 and 2022, which failed to deliver returns, also weighed heavily on the group.

Despite the bankruptcy, the company’s solar projects — including the Bordeaux submarine base, Valenciennes ice rink parking lot, and Saint-Gervais stadium — have already attracted interest. The liquidator has received 15 formal offers from developers, with a decision expected in early October.

Owczarczak said the case highlights the fragile position of smaller developers reliant on government tenders: “We are the first to fail because we are small developers. Instead of endless quarrels over nuclear versus renewables, we should focus on the collective interest of securing electricity supply.”