German green power trading platform Enyway files for insolvency

Hamburg-based Enyway GmbH has filed for insolvency with the Hamburg District Court. The insolvency affects 30 employees. Justus von Buchwaldt from the law firm BBL Brockdorff has been appointed as provisional insolvency administrator.
Enyway is a green power trading platform that enables private power producers to sell electricity directly to end customers, and end consumers to participate directly in crowd-funding projects in the sustainability sector. The »explosive increase in wholesale electricity prices« at the end of 2021 had »economically overwhelmed« Enyway, according to the insolvency administrator, so that »the supply service for electricity customers currently had to be discontinued.«
In such situations, by German law the respective basic power suppliers become responsible and the supply of electricity to customers is still ensured. The current tariffs of the basic supply would be »at present as a rule even below the current Enyway tariff,« explains company founder Heiko von Tschischwitz. The insolvency also has »no influence on the value of the loans paid in by customers as part of the crowdfunding for a solar plant and a forest project in Borneo.« Enyway acts only as an intermediary, the repayment of the loans including interest »is made at the scheduled time by the issuers.«
The founders and investors of Enyway had also founded the green energy provider Lichtblick 20 years ago. Lichtblick has belonged to the Dutch Eneco Group since 2018. They in turn were acquired in 2020 by a Japanese consortium consisting of Mitsubishi Corp. and a Japanese utility.

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