Conergy in Talks to Build Plants in Southeast Asia, CEO Says

Conergy AG (CGYK), a German solar-panel maker, is in “promising” talks with local partners to develop power plants in southeastern Asia, Chief Executive Officer Philip Comberg said.

Conergy is also looking to expand in markets in eastern Europe, North Africa and the Middle East, Comberg said in an interview in Munich this week.

Conergy, once Germany’s largest solar company, and its domestic counterparts are under pressure as subsidies fall at home amid competition from Chinese competitors that has depressed margins and panel prices. The Hamburg-based company is cutting jobs, halting production of wafers and cells, and focusing on end-product modules, project development and services in a bid to become profitable.

While the Japanese solar market is buoyed by an “attractive” feed-in-tariff due to start July 1, “you need a local partner” to succeed in Japan, Comberg said.

To contact the reporter on this story: Stefan Nicola in Berlin at snicola2@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net