Weekly renewables M&A round-up (Jun 27-Jul 1)
Jul 01, 2022 17:05 CEST(SeeNews) - Mar 22, 2013 - German industrial group Robert Bosch said today it will withdraw from its solar business after a loss of about EUR 1 billion (USD 1.3bn) last year.
The company plans to discontinue its production of crystalline solar cells in the German town of Arnstadt at the start of 2014 as well as all its development and marketing activities. Bosch intends to sell its plant in France and the shares in subsidiary Aleo Solar.
According to preliminary data, the solar business pushed down the company's 2012 performance by about EUR 1 billion. The unit booked an operating loss of EUR 450 million and unplanned impairments of about EUR 600 million. The company already wrote off EUR 560 million in 2011 and EUR 425 million in 2009.
Bosch announced at the end of January that its solar activities have no accounting value left and the company sees no chances to make profit in the segment.
(EUR 1 = USD 1.3)
Weekly renewables M&A round-up (Jun 27-Jul 1)
Jul 01, 2022 17:05 CESTCorio, Jera ready Formosa 3 for Taiwan offshore wind auction
Jul 01, 2022 16:12 CESTCost of new renewables climb, but gap to fossil power widens
Jul 01, 2022 16:07 CESTGermany opens public consultation on offshore wind development plan
Jul 01, 2022 15:48 CESTEast Energy, utility to use green H2 to decarbonise district heating in Brandenburg
Jul 01, 2022 15:43 CESTBiden pledges to take action as court limits EPA's authority
Jul 01, 2022 15:38 CEST