Denmark’s Better Energy Units Go Bankrupt as Capital Raise Fails

Denmark’s distressed solar farm developer Better Energy has filed for bankruptcy for two of its main units and cut about 80 jobs after failing to raise enough capital to exit a reconstruction process and solve its financial challenges.

A “dedicated effort” by Carnegie Investment Bank failed to attract sufficient investor interest for an overall reconstruction of the entire group, Better Energy Holding said in a statement on Thursday.

That means Better Energy A/S and Better Energy Danmark A/S go bankrupt while the holding company will remain in restructuring, with the aim of finishing four solar farms in a joint ...