China's GoodHao, a possible investor in the fallen Malina, is preparing a bid for Alpha Solar

by   CIJ News iDesk III
2023-11-20   19:33

The Chinese company GoodHao, which could become a new investor in the collapsed energy holding Malina, is preparing an offer for customers of another bankrupt photovoltaic company Alpha Solar. The company could supply technology to clients. It wants to strengthen its position in the Czech market and plans to launch direct sales in the country next year. Solar power plant supplier Alpha Solar systems from Brno has been insolvent since autumn and owes at least millions of crowns.

"GoodHao is considering another strategic move to help strengthen the company's position in the Czech renewable energy market. Currently, we plan to help clients of Alpha Solar, which is in bankruptcy. We want to offer customers the delivery of PV technology of the same or higher quality that they ordered from the bankrupt company," said Wang Chengluo, chairman of the company's board of directors.

GoodHao had already entered the insolvency proceedings of debt-ridden Malina in October, offering to supply materials and settle with creditors. Malina has been bankrupt since May due to problems securing orders. At the time, the company's management admitted liabilities of around CZK 1.4bn. The company's creditors allowed the company to reorganise in the autumn.

Investing in debt-laden companies is not the only business plan of the Chinese firm in the Czech Republic. Next year, the company plans to launch direct sales of photovoltaics and heat pumps. "We are working on the preparation of our direct representation in the Czech Republic, and we are currently finalizing the selection of the representing law firm and also the communication partner," the head of the Chinese company noted.

Alpha Solar systems is currently in bankruptcy. The insolvency petition was filed by Dratel, which supplied materials, trained workers and installed some of the power plants for Alpha Solar systems' clients. According to Dratel's information in the insolvency register, Alpha Solar systems has collected tens of millions of crowns in advances from clients. According to the commercial register, the sole owner of Alpha Solar systems is now fifty-three-year-old Petr Nečas from Brno. In September, the State Fund for the Environment (SFŽP) warned about Alpha Solar systems' behaviour on its website.

Goodhao, which is based in Wuxi city in east China's coastal Jiangsu province, is mainly engaged in infrastructure investment, investment and sales of alternative fuel vehicles, production and sales of photovoltaic equipment, investment and sales of wind power plants, energy storage end-use plants, investment and sales of semiconductors, biomedical and other fields. The registered capital of the company is 100 million yuan (about 320 million crowns). The company has investment support and is funded by provincial and Chinese government funds. It recently signed a strategic cooperation agreement with FoxEss, a Chinese company that is one of the world's largest manufacturers of voltage converters and batteries.

Source: Goodhao and CTK