Inventec solar company in taiwan

What happened to Inventec Solar Energy Corporation?

47.65% Inventec Solar Energy Corporation resolved at its Board meeting on December 1, 2021, to file the bankruptcy to the court. As of December 31, 2021, the court has not yet announced the result of the ruling. 100.00% Inventec Manufacturing (India) Private Limited decided to dismiss on July 7, 2021. It is currently in liquidation process.

Will Inventec return to the solar market?

The bankruptcy of the solar unit marks Inventec’s exit from the solar cell market, Yu said, adding that the company has no plans to return to the market, but might consider other renewable energy segments.

Why did Inventec solar fail?

The company blamed strong competition from foreign solar companies, trade barriers in Europe and the United States, and the Covid-19 outbreak as the main reasons for the collapse of Inventec Solar. Inventec Solar applied to the Industrial Development Bureau for claims and liabilities negotiations in April 2020.

Why did Inventec go bankrupt?

“The assets are insufficient to set off its liabilities, the board of directors apply to the court for pronouncement of its bankruptcy,” Inventec said in a statement to the Taiwan Stock Exchange, noting liabilities of TWD 2.2 billion ($70.2 million).