Sonnen files for insolvency shortly after sale by Shell

German solar energy company Sonnen has filed for insolvency, just two months after being sold by Shell to the investor Tiven. The insolvency filing follows a period of significant financial decline.

According to financial reports, Sonnen's revenue plummeted from 263.5 million euros in 2023 to 68.4 million euros in 2024, while losses expanded to 107 million euros. The company, a pioneer in battery storage located in Wilpoldsried, has struggled with high debt and a challenging market environment characterized by competition from Chinese providers.

While plans are reportedly in place to maintain existing business operations and service for more than 150,000 customers, several subsidiaries are being wound down or placed into insolvency proceedings. Only one production site is expected to be preserved. Tiven, a family office associated with the investment firm Aurelius, had acquired the company from Shell in August 2024 with the intention of restructuring it.