SoloPower confirms layoffs

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Thursday, February 28, 2013

SoloPower confirmed that it will cut its workforce as part of an attempt to restructure operations.

The layoffs are the latest signal of distress at SoloPower, where production delays have placed state and federal loan guarantees in peril.

The company, which state business recruiters won over in 2011, already has received a $10 million state energy loan backed in part by Portland funding and a $20 million manufacturing Business Energy Tax Credit that will pay $13.5 million in cash.

But SoloPower has struggled to ramp up production in Portland, where initial plans outlined a $340 million thin-film solar panel factory that would eventually employ 450 within five years.

Read more at OregonLive.com.

{biztweet}solopower{/biztweet}

 

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