June 19 (Renewables Now) - The machinery of German solar cell maker Bluecell GmbH has been put up for sale as the drop in the price of photovoltaic (PV) products has taken yet another victim.
The auction for the equipment through Netbid’s online platform ends on August 31.
Bluecell was formed in 2014 when it acquired the solar cell production unit in Arnstadt, Thuringia province, of then insolvent German solar modules maker Sunways AG. MDR Thueringen recently reported that Bluecell has let go all of its 85 employees. It stopped production in May.
A new period of overcapacity and fierce competition in the solar sector also resulted in Germany's SolarWorld AG (ETR:SWV) and four affiliates filing for insolvency in May. The over-indebted company said at the time it no longer had a positive going concern prognosis because of the ongoing price erosion for solar products and the development of the business.