Germany-based SolarWorld AG says it has embarked on an external review of its business plan, in light of financial concerns.
The company provided few concrete details in its recent investor statement, but it expects that ‘serious adjustments on the debt side are necessary.’ Several bonds are coming due, and a financial restructuring is likely, the company added.
SolarWorld noted that an ‘anticompetitive market environment’ contributed to its financial woes. The company has been the most vocal proponent of applying tariffs to what it says are unfairly subsidized Chinese solar products.
Following the implementation of such tariffs in the U.S., SolarWorld's U.S. subsidiary recently noted that Chinese imports have fallen.
