ABO Energy has secured a standstill agreement with creditors of its key financing arrangements to allow time to develop a restructuring plan.
The developer expects an annual loss of around €170 million for the 2025 financial year following corrections to its earnings forecast in November 2025 and January 2026, it said.
The loss is driven by altered market conditions that have triggered special write-downs, revenue shifts and lower developer margins for renewable energy projects, it added.
The managing board has launched a transformation and efficiency programme supported by experts from a consulting firm.
“We have already identified and in part also implemented numerous measures to adjust our cost structure to the changed market environment. This will most likely include a corresponding reduction in personnel,” said managing director Alexander Reinicke.
“We have set the course for a fresh start and will work to return ABO Energy to its position as a financially successful contributor to the energy transition as quickly as possible,” Reinicke added.
Hübner Management will accompany the restructuring, and Britta Hübner will lead a CRO team of restructuring experts who will support the transformation process.
The company said implementation of the restructuring concept will require support from bondholders of the 2024/2029 bond and it intends to convene a vote without a meeting asking them to waive the negative pledge clause.
The company said lawyer Andreas Ziegenhagen is to be appointed as joint representative to enable the bond to join the standstill agreement.
“We ask our bond creditors to support the company’s restructuring efforts and thereby help ensure – also in their own interest – that ABO Energy will continue to be able to meet its interest and repayment obligations in the future,” said Reinicke.
ABO Energy said documents for voting without a meeting are expected to be available on its website from 3pm on 26 January following publication of the notice of meeting in the Federal Gazette.
The company said it holds a pipeline of wind, solar and battery projects totalling about 30GW, with more than one third located in Germany and France.
A digital information event for bondholders will take place on 5 February 2026 from 6 to 7pm CET, the company stated.