Windpower Engineering & Development

  • Home
  • Articles
    • Most recent posts
    • News
    • Featured
  • Resources
    • Digital issues
    • Podcasts
    • Suppliers
    • Webinars
    • Events
  • Videos
  • 2025 Leadership
    • 2024 Winners
    • 2023 Winners
    • 2022 Winners
  • Magazine
  • Advertise
  • Subscribe

Senvion granted loan extension from lenders through August

By Michelle Froese | July 31, 2019

Senvion says all business areas are under review, with an accelerated M&A process to achieve results soon.

Senvion announced that it has reached an agreement with its lenders, which gives financial support for the continuation of its business until the end of August — and potentially for a period thereafter — if ongoing talks with lenders conclude successfully.

The extension enables Senvion to further accelerate its M&A process . The company says discussions with potential bidders are at an advanced stage.

“In tandem with the hard work and commitment of everybody at Senvion, we have been exploring our options to secure the best possible outcome for the company,” said Yves Rannou, CEO of Senvion. “However, as negotiations have not yet been concluded, we will further accelerate the M&A process and in parallel initiate a review of all business areas to secure Senvion’s profitable core business.”

In the spring, the manufacturer filed a petition to commence self-administration proceedings pursuant to Section 270 of the German Insolvency Code. Senvion TopCo GmbH (Senvion’s direct parent company) also filed a petition for ordinary insolvency proceedings with the court.

As a contingency for an unsuccessful outcome to the company’s efforts to sell Senvion as a whole, or substantial parts of it, the management has to prepare for all eventualities. To this end, management will shortly be meeting with employees’ representatives to begin the negotiations regarding social plans and balance of interest schemes for all business areas or substantial parts of it if an investor cannot be found in time.

“The goal is to finalize our advanced investor discussions in the short term. I am grateful for all the support of our dedicated employees and would like to thank our lenders for their continued financial support,” added Rannou.


Filed Under: News
Tagged With: senvion
 

About The Author

Michelle Froese

Related Articles Read More >

US government allows Empire Wind offshore project to resume construction
Richardson Electronics to deliver pitch energy modules to TransAlta wind fleets
Equinor halts work on Empire Wind offshore project after federal government order
ARESCA wants input on offshore wind standards

Podcasts

Wind Spotlight: Looking back at a year of Thrive with ZF Wind Power
See More >

Windpower Engineering & Development Digital Edition Archive

Digital Edition

Explore the full archive of digital issues of Windpower Engineering & Development, presented in a high-quality, user-friendly format. Access current and past editions, clip, share, and download valuable content from the industry’s leading wind power engineering resource.

Windpower Engineering & Development
  • Wind Articles
  • Solar Power World
  • Subscribe to Windpower Engineering
  • About Us/Contact Us

Copyright © 2025 WTWH Media LLC. All Rights Reserved. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media
Privacy Policy | Advertising

Search Windpower Engineering & Development

  • Home
  • Articles
    • Most recent posts
    • News
    • Featured
  • Resources
    • Digital issues
    • Podcasts
    • Suppliers
    • Webinars
    • Events
  • Videos
  • 2025 Leadership
    • 2024 Winners
    • 2023 Winners
    • 2022 Winners
  • Magazine
  • Advertise
  • Subscribe