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Econcern
View on Wikipedia | This article needs to be updated. (July 2011) |
Econcern was an international holding company, consisted of five operating companies: Ecofys, Evelop, Ecostream, Ecoventures, and OneCarbon. These companies delivered solutions for renewable energy (solar energy, wind energy, bioenergy) and carbon credits, it was with a mission to "ensure a sustainable energy supply for everyone".[1] Econcern employed 1,200 professionals in over 20 countries across the world.
Bankruptcy
[edit]In May 2009, Econcern filed for Dutch Chapter 11 for suspension of payments, the first step towards bankruptcy, after it failed to agree on refinancing terms on a €150 million corporate loan which matured on April 1st, 2009. An administrator was appointed by a Dutch court to work with the board to try to identify new financing solutions.[2] At stake were assets under development, such as the Belwind and Gode Wind I offshore wind farms, as well as operational assets, such as Q7. The company went bankrupt in Q3 2009.
References
[edit]- ^ "Econcern". Econcern. Retrieved 12 April 2009.
- ^ "Econcern file for bankruptcy". Reuters. 26 May 2009. Retrieved 3 August 2009.
External links
[edit]- Article on creation of Econcern new corporate visual identity, presented on Malta in September 2008
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