Germany’s Fellensiek Projektmanagement Files For Insolvency

Fellensiek Projektmanagement GmbH, the German large-scale solar PV projects developer, has filed for insolvency proceedings due to liquidity problems. It followed claims worth millions from an unidentified investor. 

Based out of Jever, the company has been put under provisional insolvency proceedings by the Local Court of Wilhelmshaven on September 3, 2024. Dr. Christian Kaufmann from PLUTA Rechtsanwalts GmbH, as its provisional administrator, will review all restructuring options for the German company.  

Fellensiek has been operating in the German renewables market since 2012, starting with wind energy. Now, its largest business area is the development, implementation and financing of large PV systems on the roofs of companies in Germany. It develops projects on leased roof areas for its own portfolio that feed electricity into the public grid. Additionally, it also sells systems to 3rd parties.  

Under the German insolvency law, the 20 Fellensiek employees will continue to receive their salaries for 3 months. However, some 20 projects that the company operates through its project companies are not part of the insolvency proceedings; hence, their operation will not be impacted.   

Kaufmann explained, “The business is continuing to operate. We will now gain a comprehensive overview of the financial situation and hold discussions with all business partners. We will analyse the potential solutions for Fellensiek over the coming weeks. To this end, we intend to hold discussions with parties interested in taking over the PV projects.” 

Earlier last month, German solar and storage systems installer Bosswerk also announced insolvency attributing the drop in sales to the price decline for solar PV components (see German Solar & Storage Systems Supplier Files For Insolvency).