Auction Set For BlueChip Power’s Solar Assets

Posted by SI Staff on July 03, 2013 No Comments
Categories : New & Noteworthy

Defunct BlueChip Power LLC, formerly known as BlueChip Energy, is having its assets liquidated at auction. The ambitious Florida-based company – which had taken on large solar projects and entered the solar leasing and PV panel manufacturing businesses – had been the subject of investigations and lawsuits.

In April, Underwriter Laboratories issued a warning that certain modules from BlueChip-affiliated Advanced Solar Photonics had been found with counterfeit labels.

According to the Orlando Business Journal, a lawsuit filed by an equipment-leasing company claimed BlueChip was insolvent and demanded it be shut down and its assets liquidated.

In early June, insolvency firm Michael Moecker & Associates was appointed receiver by a Florida court. The affiliated Moecker Auctions is handling the sale of BlueChip's assets. These include complete solar panel manufacturing lines valued at $12 million, an 8,000 PV rooftop array valued at $7 million, and miscellaneous factory and office equipment.

BlueChip's 210.7 acres that was to be the site of the Sorrento Solar Farm is being handled separately through Moecker's real estate company.

According to Moecker Auctions Vice President Eric Rubin, the auction will be conducted July 16 at the BlueChip site in Lake Mary, Fla., as well as online simultaneously. An on-siteƂ preview opportunity is scheduled for July 8.

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