SolarWorld files for insolvency

By Kelly Pickerel SolarWorld AG, parent company to SolarWorld Americas (the largest crystalline-silicon solar module manufacturer in the United States for more than 40 years), announced in a brief statement that it has filed for insolvency.
Citing the “ongoing price erosion and the development of the business,” SolarWorld AG said it “no longer has a positive going concern prognosis [and] is therefore over-indebted and thus obliged to file for insolvency proceedings.”
The company is currently evaluating whether SolarWorld Americas and its other affiliated companies also have to file for insolvency. SolarWorld AG is headquartered in Bonn, Germany.
This news comes on the heels of fellow non-Asian

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