Germany koneng, the hottest European Photovoltaic

2022-08-16
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European Photovoltaic giant koneng came back from the dead

after completely getting rid of the traditional hardware manufacturing department, European Photovoltaic giant Conergy, which only retained the downstream solar power generation planning department, quickly turned loss into profit

it's time to say goodbye to those unbearable years. Conergy (hereinafter referred to as Conergy), once the largest solar energy company in Europe, seems to smell the smell of health again this spring

this solar energy company, praised by its global peers as the flag of the German photovoltaic industry, did not disappoint its American shareholders. After more than 20 months of efforts, it finally smelled the smell of profitability

after getting rid of the traditional hardware manufacturing department with large investment and low profit, Kangneng has transformed into a planning service provider focusing on the development, finance, engineering, procurement, construction, operation and maintenance of asset light operation

according to the Financial Times website, Alexander, chief operating officer (COO) of koneng ˙ Alexander Gorski recently revealed that the company has turned losses into profits and is currently considering listing. It is said that koneng had sales of nearly US $500million last year and an operating profit of nearly US $10million

it was learned that koneng was once a listed company in Frankfurt. In 2012, koneng suffered a net loss of 99million euros (about 108million dollars from the integrated management of the upper computer to the lower computer cluster), resulting in bankruptcy

koneng, headquartered in Hamburg, Germany, is famous in the German solar energy industry. It is also a pioneer in the era of global photovoltaic integration. From the initial operation of components, inverters, brackets, and later expanded to downstream photovoltaic EPC, development and other businesses, almost all photovoltaic links are involved, leading the trend of the entire photovoltaic industry in Europe and even the world at that time

according to public data, at the peak of the development of the solar energy industry in 2007, koneng's market value exceeded 2.2 billion euros (about $2.402 billion)

the seeds of disaster are also quietly planted. In 2012, koneng had a revenue of 474million euros (about 518 million dollars), an operating loss of 83million euros (about 90.627 million dollars), and a market capitalization of 57million euros (about 62.238 million dollars)

Der Spiegel published a survey report saying that with the strong support of the German renewable energy law, German solar energy made a lot of money and led the global market until 2008. However, thanks to generous government subsidies, German enterprises failed to restructure in time to expand their competitiveness

at the same time, the new strategic partnership between China and Africa has been promoted to a new level. In 2011, various photovoltaic giants from China showed great potential to cross the sea, with excessive expansion, including the collapse of a number of photovoltaic manufacturing enterprises such as Suntech, the world's leading company

Asian manufacturers came from behind, the German government canceled policy subsidies, and the global boom in shale gas exploration has led some countries to reduce investment and subsidies in new energy. One after another, the superposition of factors has pushed a large number of photovoltaic enterprises to the brink of bankruptcy

in the worst situation of the whole industry, koneng has carried out vertical integration. The prices of modules and inverters fell sharply, and koneng finally fell to the ground without support. In July, 2013, Kangneng was unable to recover and formally applied for bankruptcy protection

during this period of time, it is easy to cause small piston damage and oil leakage. Koneng broke its wrist to survive, and its boldness is amazing. Industry giants such as Chint solar, which is owned by nancunhui, a wealthy businessman in Zhejiang Province, have begun to dismember koneng, which has filed for bankruptcy

koneng's business was bought by different objects - Chint solar swallowed its 300 MW crystalline silicon solar module factory business, Bosch took a fancy to the inverter, and the support department was removed by Germany northwest industrial group. The downstream solar power planning department, which is most relied on by the senior management of Kangneng, was recruited by the Miami based private equity giant Kawa capital management

in Kawa's hands, only koneng, a solar power planning business, quickly turned into a profit in the short term. Its CEO Andrew ˙ virtue ˙ In an interview with Reuters, andrewdepass said that when upstream costs fall sharply, downstream planners actually have great potential

koneng, which has experienced the storm of death, is still one of the largest photovoltaic downstream planners in the world, with 350 employees in 14 countries. At the same time, it successfully introduced RWE, the second largest multinational power giant in Europe, to invest in shares, and obtained financial support from Deutsche Bank

Kangneng began to "recover" in 2014. The planned scale of development, construction and installation will reach 300 MW, with a revenue of US $500million. The installed capacity in 2015 is expected to reach 1 GW, and will enter the fast-growing markets in the world such as South American countries and Africa. At the same time, it will also perform well in Germany, Japan, the Philippines and Thailand

in addition to the courage to die and be reborn, koneng also benefited from the popularity of American energy Jinan Shijin automotive interior material testing machine product introduction: this series of material testing machines strictly comply with the inspection standard of gb/t16491 (1) 996 electronic universal material testing machine, yieldco, an investment tool in the industry

yieldco usually serves listed companies that operate assets that generate cash flows, which will be distributed to investors in the form of dividends and can trade earning rights in the market. The yieldco model was previously widely used in real estate and other industries, with little involvement in the photovoltaic industry. Yieldco does not participate in the project development and construction, so the risk is small, and it can obtain financing at a low cost in the capital market

at the same time, the high-quality power generation projects held by yieldco can also provide cash returns to investors in the form of stock dividends. There are two reasons why yieldco is successful and popular in the United States: first, the installed capacity of high-quality energy projects owned by the United States is huge; Second, the current interest rate in the United States is low

it is learned that at present, some Chinese listed enterprises in the United States, including atlas sunshine power, may also begin to transform to power station acquisition and long-term holding, but relevant people said that the current high domestic financing costs may hinder the rapid development of this model

Kangneng is now a pure plan service provider. Yieldco packages the planned stable cash flow in the form of securities and financial products, which is more beneficial to Kangneng's access to funds

like many photovoltaic module manufacturers, koneng has shifted its business focus to the downstream market, but this requires more capital injection. The participation of private equity giant Kawa and IPO East RWE, as well as the flexible use of yieldco, make all this no longer a problem

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