“Many people are already relying on solar energy – but we know that efficient energy production involves more than just the correct assembly of technical components. That’s why we create holistic concepts that, in addition to technology, focus primarily on economic factors,” it says on the company’s homepage. “Sun Contracting is the innovative photovoltaic contracting model for commercial customers that combines renewable energy generation with cost reduction. You benefit from clean solar power, consistent and long-term energy supply and a significant reduction in your fixed costs. Unlike conventional models, you do not buy the photovoltaic system, but rather we provide it to you – without investment, without acquisition costs.”
Die Sun Contracting Austria GmbH, die Sun Contracting Norica Plus GmbH, die Sun Contracting Engineering GmbH, die Sun Contracting Project GmbH and die Sun Contracting Solutions GmbHall based in Linz, have submitted applications for the opening of bankruptcy proceedings at the Linz Regional Court. Confirm that Credit reform and KSV1870. 33 employees are affected by the bankruptcies.
“The Sun Contracting Group offers extensive photovoltaic and energy solutions for industry, commerce, agriculture, municipalities and private households,” says Creditreform.
The background
“According to the bankruptcy application submitted to KSV1870, the causes of the over-indebtedness are due to the turbulence on the photovoltaic market. In particular, there has been a fall in electricity prices since the end of 2023. In addition, the high interest rates and high inflation led to a massive increase in material and construction costs for PV systems,” maintains Petra Wögerbauer from KSV1870. “Increasing price pressure and the tense competitive situation resulted in a drop in sales. The filing for insolvency by the parent company Sun Contracting AG in Liechtenstein was the trigger for the Austrian project companies to immediately file for bankruptcy proceedings at the Linz regional court.”
Debts and assets
Creditreform estimates the liabilities at a total of 46.98 million euros. The assets are valued at around 16 million euros
No future
“Due to the lack of a positive continuation prognosis, the applicants are not seeking a continuation of the company or restructuring,” says Creditreform. “The current status does not allow for a serious forecast for the expected quota for the creditors.”