in hamburg germany founder hans martin r ter headquarters kaufmannshaus bleichenbr cke 10 20354 hamburg germany key people andrew de pass ceo christina welsch cfo alexander gorski coo marc lohoff cso 1 services solar asset investment project development engineering procurement and construction operations and maintenance revenue not disclosed owner kawa capital management number of employees 350 website www.conergy.com conergy is a company in the solar energy industry providing project development financing epc and o & m services with more than 1.3 gw installed globally . 2 conergy is one of the world s largest downstream solar companies . it was founded in 1998 by the former chairman of the board hans martin r ter . in march 2005 conergy was registered at the frankfurt stock exchange with the abbreviation cgy and the isin de 00060 40025 . 3 three months after its ipo the company was added to the tecdax index in which it remained until march 2011 . until 2013 the conergy group manufactured technology in germany for solar wholesalers installers industrial or private roof owners and investors in solar power as required . on 5 july 2013 conergy filed for preliminary insolvency at the district court of hamburg one of a succession of german solar manufacturers that collapsed under pressure from depressed prices due to oversupply by chinese manufacturers . 4 later in july 2013 us private equity firm kawa capital management announced it would buy the conergy brand and some of the international sales and service units without the manufacturing businesses . 5 by november 19 2013 kawa capital management had acquired the global service centre in hamburg and sales units in the usa canada uk germany italy thailand singapore and australia . in february 2014 conergy opened its first office in japan . 6 conergy has its americas headquarters in miami fl ; its europe middle east africa and india emeai headquarters in hamburg germany ; and its asia pacific headquarters in singapore . 7 their distribution network for solar products covers over 67 distributors and wholesalers across over 18 different countries . 8 contents 1 international activities 1.1 europe 1.2 asia 1.3 americas 2 history 2.1 early phase to 2005 2.2 strategy 50 50 08 2.3 lg 3 memc silicon supply contract 4 transition under kawa capital management ownership 5 see also 6 references 7 external links international activities edit europe edit in 2011 conergy won the race to build the uk s first large solar plant with a 5mw solar farm at hawton nottinghamshire . 9 by summer 2014 conergy had become one of the top five biggest companies for the engineering procurement and construction of solar plants in the uk . 10 in june 2014 conergy announced two projects with rwe the european utility s first large solar plant in the uk 11 and a solar leasing partnership for businesses . 12 asia edit in may 2014 conergy completed the first large solar plant in the philippines 13 and in september 2014 conergy australia announced it would build the world s first heart shaped solar farm on the pacific island of new caledonia . 14 in australia the company has built solar rooftops for a factory owned by mars incorporated as well as for a call centre run by the government of queensland . 15 americas edit in january 2014 conergy announced plans to move into asset investment by establishing a tax equity fund with an initial target volume of us 100 million in order to expand its us and canada project business . 16 in october 2014 the distribution groups in the us and canada were sold by conergy . the sale highlighted the company s focus on project development finance epc and o & m. conergy won the tender for the 2mw sunmine project in kimberley british columbia which will see an operational coal mine partially converted into a solar power plant . 17 history edit early phase to 2005 edit since its foundation some 15 years ago the company has grown from consisting of only hans martin r ter to a company present in most german cities and in spain . it has four daughter companies that operate in the same field as the holding company suntechnics founded in 1996 conergy aet and voltwerk later epuron . the daughter company of the same name produced procured and distributed the products . engineering arm suntechnics provided revenue via project management . aet an acquired entity functioned similarly to conergy with a slight difference in target market . conergy was catering for individual customers while aet was designed to take care of distributors . with this configuration conergy generated a revenue of over 1 billion euros in sales in 2005 . strategy 50 50 08 edit in 2006 the company expanded into different renewable energy technologies and formulated what it called the 50 50 08 strategy to diversify the company s attention into all renewable energy fields with 50 % of revenues from fields unrelated to solar energy and 50 % revenue from outside germany by 2008 growing organically and via acquisition . before 2006 the company had around 1 500 employees ; by the end of 2006 some 6 months after initiation of 50 50 08 it had approximately 2 300 employees . by mid 2007 the number reached close to 3 000 . many employees were either new or from acquired companies . during this period conergy also broke ground on a high volume pv module manufacturing plant in frankfurt on oder on the german polish border . by the third quarter of 2007 cash flow became a problem . in addition acquired companies were not fully merged in hence revenues were not coming in . by the time for the stockholders meeting none of the objectives of the 50 50 08 strategy had been achieved and the company was unable to procure products for projects that were supposed to be bringing in revenue . the old management team including hans martin ruter stepped down and dieter ammer a member of the supervisory board of conergy agreed to a term as interim managing director ceo . liquidity shortfall at the end of 2007 forced the company to increase the amount of shares released to the public by around 2 000 000 shares . this raised around 70 million euros and a further 30 million euros was acquired from banks . 18 to address the inefficiency of the company at this point it was decided that the company would now focus on its original core competencies . almost all of the previously acquired companies were either sold off or shut down . furthermore an estimated 1 000 employees were laid off . in addition the former brand strategy which was considered too complex and diluting of the global brand strength was changed and a focus at the core brand was introduced as the new strategy . further layoffs continued in 2009 as conergy effectively closed its new mexico operations in early august 2009 laying off most of its staff in the state in order to consolidate its us distribution . its operations headquarters moved to denver co. the goal of this reorganization was to reduce operating costs and organizational complexity gain access to a more highly skilled more diversified labor market and respond to us market trends in the renewable energy industry . during this time the company also closed a high cost warehouse in new mexico and ended distribution of solar thermal small wind systems and solar water pumping . the company completed the sale of its own solar powered surface water pumps that had been produced by the us company since the mid eighties in the us prior to its acquisition by conergy . lg edit lg electronics inc. announced a preliminary deal to form a joint venture with conergy its first in the field of solar energy . under the deal set to be completed by the end of 2008 lg would acquire a 75 % stake in conergy s frankfurt solar panel plant . 19 however due to the worldwide financial crisis and changes in strategic direction lg cancelled the acquisition . 20 memc silicon supply contract edit memc electronic materials memc a supplier of silicon to the semi conductor and pv industry had entered into a contract with conergy in 2006 to supply silicon for conergy s new module manufacturing plant . due to the global silicon shortage memc was able to negotiate very favorable terms that conergy s management team felt obligated to accept . when the downturn in silicon prices occurred in 2008 2009 and the new conergy management team attempted to renegotiate a more favorable terms memc was initially unwilling and conergy brought suit . in late 2009 an agreement was reached that improved terms for conergy and was expected to have positive effects throughout the pv supply chain as other manufacturers also seek to renegotiate unfavorable supply agreements in the new economic and supply conditions . 21 transition under kawa capital management ownership edit in 2014 a 60m credit guarantee arranged by deutsche bank was secured to finance a 400mwp expansion of conergy s international projects business which had trebled in size year on year . 22 conergy bought insolvent wirsol solar uk 23 and the rights to 166mw of uk projects from developer lumicity . 24 in order to focus on the company s downstream business conergy sold its distribution arms in the usa and canada to soligent 25 and hes pv in october 2014 . 26 see also edit first solar solarcity sunedison sunrun south san joaquin irrigation district ssjid sunpower thomaslloyd group references edit http www.conergy.com about conergy management board of directors http www.conergy.com about conergy solution offering http deutsche boerse.com dbg dispatch en listcontent dbg nav press 10 latest press releases content files 13 press pm news conergy ipo 170305.htm http www.bloomberg.com news 2013 07 05 conergy plans insolvency filing as investor sought for rescue.html http www.bloomberg.com news 2013 07 19 conergy to sell main brand to kawa in sales unit disposal.html http asia.conergy.com about us http www.prnewswire.com news releases conergy moves its americas headquarters to miami in the sunshine state 300112767.html http www.enfsolar.com directory component 771 conergy http www.businessgreen.com bg news 2093947 conergy wins race deliver uks 5mw solar farm http www.renewableenergyfocus.com view 39291 lumicity conergy engaged in uk solar project deal http www.bloomberg.com news 2014 04 23 rwe invests in its first u k solar park conergy to build.html http www.reuters.com article 2014 07 07 britain solar conergy idusl6n0pf2oj20140707 http www.bloomberg.com news 2014 05 15 conergy completes biggest solar park in phillipines.html http www.theguardian.com environment 2014 sep 25 is this heart shaped solar farm the worlds most beautiful power plant http www.couriermail.com.au business solar ceo building heartshaped pv plant calls for some love from govt story fnihsps3 1227071609902 http www.bloomberg.com news 2013 07 19 conergy to sell main brand to kawa in sales unit disposal.html https kimberley.civicweb.net document 14758 press % 20release % 20 % 20sunmine % 20ground % 20breaking % 20 % 20july % 207 % 202014 % 202014.pdf handle 883a2c9913354669bad06cd3a918d9cf http www.conergy.de en desktopdefault.aspx tabid 242 310 read 8475 http www.greentechmedia.com articles lg plots solar partnership with conergy 1395.html http www.conergy.de en desktopdefault.aspx tabid 237 271 read 9596 http www.conergy.us desktopdefault.aspx tabid 267 236 read 10885 http www.bloomberg.com news 2014 07 07 conergy gets 60 million bank guarantee to expand solar business.html http www.businessgreen.com bg news 2325464 conergy acquires 100mw of solar farms from stricken wirol http www.utilityweek.co.uk news conergy buys 166mw solar portfolio 1028582 http cleantechnica.com 2014 10 13 soligent acquire conergys us solar distribution division http www.rechargenews.com solar 1379350 conergy sells canadian distribution external links edit official website v t e solar energy in the european union european renewable energy council european photovoltaic industry association 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