Solar Millennium Files For Insolvency In Germany

Law360, New York (December 22, 2011, 4:32 PM EST) -- Solar developer Solar Millennium AG said Wednesday that it had filed for insolvency in Germany, raising questions about the fate of a string of solar projects in the southwest U.S. that it has been working to sell amid a general slump in the industry.

Solar Millennium said in a statement that it has been in advanced negotiations with SolarHybrid AG on the sale of the project pipeline in California and Nevada with a total capacity of 2,250 megawatts.

However, the company said certain conditions for the...
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