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Germany's SSC Wind follows Senvion in insolvency

Senvion wind turbines. Source: Senvion SE 2014. License: All rights reserved.

May 15 (Renewables Now) - SSC Wind GmbH, a German wind industry services provider, has filed for insolvency following delays and construction freezes at the sites of two large wind projects and due to turbine maker Senvion’s (ETR:SEN) bankruptcy.

Schultze & Braun made this announcement last week, saying that 100 jobs are secured until June 2019. Tim Beyer has been named provisional insolvency administrator.

The law firm noted that Senvion’s recent entry into preliminary self-administered insolvency proceedings has led to a greater loss of claims at SSC Wind. Beyer commented that this, coupled with delays at certain project sites, has made the filing for bankruptcy inevitable.

According to CEO Hinrich Eden, the firm is holding advanced talks with an unnamed party interested in buying into SSC Wind.

SSC Wind specialises in the construction and maintenance of both onshore and offshore wind farms. The services it offers include installation, commissioning, maintenance, service and repair of wind turbines, as well as project and site management, among others.

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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