in News Departments > New & Noteworthy
print the content item

Finland-based wind turbine maker WinWinD has submitted a voluntary petition for bankruptcy.

The company reveals it has been hit by big losses over the years, with debt currently at about EUR 300 million. After unsuccessful attempts to seek funding and approval for restructuring, WinWind says filing for bankruptcy was a necessary decision. According to the company, 130 employees will be affected.

“We regret that the current international financial uncertainty and the decrease in demand in wind energy sector have made it difficult in recent years to develop the business, increase sales and reach profitability,” the company said in a statement. “We are particularly sorry to WinWinD’s personnel and their families, customers, suppliers, company's other financiers and stakeholders and would like to inform one and all that as there was no other alternative in sight, the company had to resort to the decision to submit a voluntary bankruptcy petition.”

A district court has accepted the company’s petition and named an administrator to handle the process.




Trachte Inc._id1770
Latest Top Stories

Canadian Wind Industry Urges For More Federal Support

The Canadian Wind Energy Association says the country's federal government, once a big industry supporter, should again back wind power.


Wind And Solar Helped California Grid During Challenging Summer

According to the California Independent System Operator, the state suffered from heat waves and drought this year, and wind power played a "significant role" in keeping the lights on.


Recapping The Wind Industry's Third-Quarter Deals

Mercom Capital Group recaps investment and merger and acquisition activity during July, August and September.


Yearly Installed Capacity Figures Already Beat 2013 Numbers, More Wind On The Way: AWEA

While the American Wind Energy Association (AWEA) lobbies Congress to extend the production tax credit, the association notes wind projects now under construction signal a vibrant 2015.


Yahoo Inks Contract To Buy Kansas Wind Power

The Internet company plans to log in to the Alexander wind project, which is being built by community developer OwnEnergy.

Hybrid Energy Innovations 2015
Renewable NRG_id1934
Canwea_id1984
BG 2015DblBox_id2032