Gridparity, a specialist in agri-PV and urban solar applications, is seeking investors to secure the continuation of its business operations. The company, based in Dachau, Bavaria, was recently forced to file for insolvency with the local court in Munich. The move follows the withdrawal of bank financing for its planned agri-PV projects, a development attributed to ongoing political uncertainty. Strategic investors now have the opportunity to bridge this funding gap.
Gridparity has recently experienced a marked increase in enquiries, particularly for agri-PV systems. However, the operating environment for these projects has worsened significantly since the change in government. The previous Bundestag, Germany’s federal parliament, had approved an additional bonus of 2.5 euro cents per kilowatt hour for electricity generated from so-called farm-adjacent solar systems. Yet the current government has temporarily suspended efforts to have this extra support cleared by the European Commission.
New restrictions threaten market outlook
The official rationale is that the German Renewable Energy Sources Act (EEG) has already been approved, and this approval includes the bonus for small agri-PV systems with a capacity of up to one megawatt on a maximum of 2.5 hectares. However, the European Commission has made its approval dependent on the German government presenting a robust clawback mechanism—a tool designed to recover surplus profits in the event of over-subsidisation. The simplest route would be to regulate this through a market premium, but the German government has yet to present such a regulation.
Harvesting the full potential of agri-PV
Further restrictions have also been signalled, most notably the questioning of the EEG feed-in tariff by Minister for Economic Affairs Katherina Reiche (CDU). This has contributed to banks pulling out of project financing, and contracts that were previously considered secure have not materialised.
Open to talks with strategic partners
Gridparity had planned to address the expanding funding gap by bringing in external investors. “The discussions with potential partners were positive but could not be finalised in time, forcing CEO Dr Merkle to pull the emergency brake,” the company reports.
Gridparity develops solar roof for green car parks
Gridparity continues to see strong potential in both agri-PV and urban PV projects and remains open to discussions with investors or strategic partners interested in a takeover or the continuation of business operations. Interested parties can contact either Gridparity directly or the provisional insolvency administrator Stefan Strüwind from the Munich law firm Locon. (su)
