In.power GmbH in Mainz continues in insolvency and seeks investors

Insolvency proceedings on German direct marketer of renewable energy, In.power.GmbH are expected to be opened »around the turn of the year« by the Mainz District Court, according to the company. Robert Schiebe of Schiebe und Collegen has been appointed as provisional insolvency administrator. In.power GmbH will continue with all employees and is negotiating with interested parties.
Founded in 2006, In.power GmbH got »due to a bad debt« into financial difficulties. »The unexpected termination of a framework agreement led to high receivables due,« a statement said. The management had then filed for insolvency at the end of August. The group's subsidiaries, such as In.power metering GmbH for metering point operation, Grün power GmbH for green power supply, In.power optimise GmbH for energy data optimization and sister company In.power network GmbH for joint ventures with third parties, were not affected by the insolvency, it said.
The core business of In.power GmbH is the direct marketing of renewable energies from wind energy, photovoltaics, biomass and biogas, and hydropower. Last year, the company turned over €50 million and marketed environmentally friendly electricity from photovoltaic and wind power plants with a capacity of 900 megawatts.

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