Everwatt’s Bankruptcy: A French Solar Developer Collapses
The French solar developer Everwatt has declared bankruptcy, and the Paris Commercial Court has placed the company into judicial liquidation. This marks the third liquidation in two years for the company, which is registered as an SAS (“Société par Actions Simplifiée”). The court finalized the liquidation on October 3, 2024, appointing SCP BTSG² as the judicial liquidator.
Founded in 2016, Everwatt focused on developing solar plants and selling electricity directly to its customers. According to PV Magazine, Everwatt developed 35 MW of solar installations on school and industrial rooftops last year and also operates a 28 MW ground-mounted solar park near Marseille. The filing follows the bankruptcy of its parent company, Everwatt Invest, in March of this year.
Financial Breakdown and Industry Consequences
Signs of Everwatt’s financial distress first emerged in August 2024, when the company failed to pay its employees for July and August. These concerns intensified when Everwatt became unable to pay its electricity bills—a critical failure that triggered the court-ordered liquidation. As a key player in the French solar market, the company’s collapse is causing significant disruption across the renewable energy sector.
The insolvency is a major blow to France’s renewable energy goals, as Everwatt was a leading developer in the sector. Its failure raises questions about the financial viability of similar projects and the broader challenges facing the industry. While some of Everwatt’s projects may be taken over by other companies, many will likely be abandoned, leaving investors and customers in a difficult position. The collapse serves as a stark reminder of the risks associated with large-scale renewable energy investments.
Challenges in the French Renewable Energy Sector: The Everwatt Bankruptcy
Everwatt’s bankruptcy highlights the challenges facing companies in the renewable energy sector, particularly in France. The French government has been actively promoting renewable energy through initiatives like annual tenders, which are designed to add 2 GW of solar capacity each year as part of the country’s transition to a low-carbon economy. However, the financial instability of key companies has raised concerns about the sustainability of these efforts.
France has also launched specific tenders, such as the recent C&I rooftop photovoltaic tender that secured 362.2 MW of capacity at an average of €0.1021/kWh, as reported by PVKnowhow. Yet even with these supportive measures, companies like Everwatt have struggled to remain viable.
The fall of Everwatt will likely have a ripple effect across the renewable energy sector, as investors and customers may become more cautious. The French government may need to introduce additional measures to support the industry and ensure the financial stability of companies in this space. This situation also underscores the importance of robust safety standards and quality control within the solar industry, especially as France considers new safety measures for solar panels amid growing concerns about plug-and-play systems.
