The Hamburg District Court has launched preliminary insolvency proceedings for German photovoltaic (PV) project developer Enerparc AG, with law firm BRL’s attorney Stefan Denkhaus appointed as the preliminary insolvency administrator. The proceedings guarantee three months of wage security for the company’s nearly 700 employees.
As confirmed by available information, the insolvency filing exclusively applies to Enerparc AG itself, excluding all its subsidiaries and project companies. A key player in the European renewable energy sector, Enerparc has developed around 500 PV projects across Germany and international markets, boasting a total installed capacity of approximately 5.5 GW, among which 3.8 GW has been successfully connected to the power grid. As recently as this spring, the company secured a €1 billion financing package, consisting of a €500 million junior loan and an initial €425 million long-term project financing facility (expandable to €500 million), to advance its PV and battery energy storage business expansion.
While the court’s initial notice did not disclose the exact causes of the insolvency, Denkhaus and his team have commenced on-site work to communicate with Enerparc staff, prioritizing the stabilization of the company’s daily business operations. He did not rule out potential subsequent insolvency filings for the firm’s sister companies, stating that a definitive judgment on related matters remains premature. Denkhaus has initiated consultations with Enerparc’s management, professional advisors and financiers to facilitate corporate stabilization.
Notably, Enerparc’s energy marketing subsidiary Sunnic Lighthouse remains fully unaffected by the parent company’s insolvency proceedings. The subsidiary confirmed continuous normal operations across all core businesses, including direct energy marketing, electricity supply and energy trading. Positioned as an independently operated and commercially viable entity with a mature business model, Sunnic Lighthouse maintains stable operational conditions, reliably supplies power to customers, and sustains regular partnerships with power plant operators and trading counterparts.
The company has maintained positive cash flow with sound short and long-term business prospects. It markets power from over 4.8 GW of installed capacity, covering Enerparc’s PV and battery storage assets as well as third-party wind farm facilities, all of which remain in normal power supply operation.
Following Enerparc AG’s insolvency application, its affiliated firm Pvwerk GmbH, a specialist in PV plant and battery energy storage system construction, has also submitted a self-administration restructuring application to the Hamburg District Court on the same day. The court has approved preliminary self-administration for the company, appointing Bernd Richter from Pluta Rechtsanwalts GmbH as the general representative to oversee restructuring alongside Pvwerk Managing Director Florian Gösch, and Tjark Thies from Reimer law firm as the preliminary custodian to safeguard creditors’ interests.
Founded in 2011, Pvwerk has completed over 500 solar parks with a total capacity exceeding 5.5 GW. Its around 60 construction and commissioning employees are also entitled to three months of wage protection under Germany’s insolvency benefit scheme. The company will sustain ongoing business operations, focusing on finishing its in-construction solar and battery storage projects, including roughly 100 projects commissioned by Enerparc that are currently under development.
Pvwerk will coordinate closely with Enerparc’s insolvency administrator Stefan Denkhaus to evaluate and screen ongoing projects, prioritizing high-value schemes to complete construction and achieve timely grid connection. The company aims to lay a solid foundation for long-term sustainable operation, backed by its competitive business model.
