SPI Power, the corporate behind the Solar4America photo voltaic panel model that had plans for elevated silicon photo voltaic provide chain manufacturing in america, has taken steps to file Chapter 15 chapter in america. The corporate has insolvency proceedings pending within the Cayman Islands, and its appointed liquidators have filed applicable petitions in america for chapter aid.
SPI Power first considerably entered the U.S. photo voltaic market in 2021 after buying a list of residential photo voltaic set up contracts from bankrupt installer PetersenDean. Together with the contracts got here PetersenDean’s model identify of “Solar4America.” SPI Power then acquired a photo voltaic panel meeting facility in Sacramento, California, previously operated by Sunergy. SPI Power selected to function the power beneath the Solar4America identify.
Solar4America seemingly by no means exceeded 750 MW of annual manufacturing capability on the Sacramento plant. The location reportedly closed in early 2025. SPI Power additionally planned to open a wafer and cell manufacturing facility in Sumter, South Carolina. The location by no means panned out.
Within the Chapter 15 petition, the appointed liquidators acknowledged that in 2022, SPI Power listed belongings of $231 million with income of $271 million. The corporate operated three core divisions: Solarjuice, SPI Photo voltaic/Orange Energy, EdisonFutures/Phoenix Motors EV. The corporate primarily targeted on Australia and North America.
SPI Power was delisted from the NASDAQ inventory market in January 2025 and formally started liquidation efforts in July. Efforts are nonetheless ongoing. The U.S. Chapter Courtroom in Delaware has scheduled a listening to for Could 27, 2026.
Local media reported final yr that new identify Amerisun was taking on the photo voltaic panel manufacturing facility in Sacramento. Photo voltaic Energy World analysis discovered Amerisun to be utilizing different firms’ spec sheets and sure not manufacturing on the web site.
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