Novatec Solar

Novatec Solar is a German provider of solar boilers based on linear Fresnel collector technology. Novatec Solar specialises in turnkey delivery including manufacture, supply, and assembly of solar fields. In March 2011, ABB acquired 35% of Novatec Solar.[1][2][3] In April 2013, ABB sold its stake in Novatec Solar to existing shareholder Transfield Holdings. After the transaction, Transfield owned approximately 85% of Novatec Solar[1].

In November 2014, Novatec announced to its bondholders that due to financial problems it was seeking a restructuring of its debt [2]. Andreas Wittke (CEO) and Oliver Mundle (CFO) resigned their positions in the same month. [4]

References

  1. ↑ "ABB investment sharpens solar focus". ABB. 2011-03-16. Retrieved 2012-10-21.
  2. ↑ Hackley, Randall (2011-03-16). "ABB Buys 35% of Germany’s Novatec Solar With Option to Buy All". Bloomberg. Retrieved 2012-10-21.
  3. ↑ Stromata, Karl-Erik (2012-03-13). "Solar Millennium ex-boss gets top job at ABB-backed Novatec". Recharge. Retrieved 2012-10-21.
  4. ↑ "Novatec Management Departure, Debt Restructure" (PDF). 2014-11-21. Retrieved 2015-01-31.

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