Discussions to liquidate NZ’s leading solar panel company began at least six weeks before the decision was announced to staff, according to sources.
SolarZero wasn’t even close to meeting ambitious sales projections, and had gone back to shareholder BlackRock seeking a further equity injection. That would be on top of $257.8 million already invested by GRPIII, a global renewable energy fund managed by BlackRock.
The first liquidator’s report, published on Tuesday evening, reveals the company owes nearly $40m to employees, tradies and suppliers and other creditors. And although the firm’s 15,500 residential customers had been assured they were protected, it now emerges that 3 percent of them (nearly 500) don’t have…
