The insolvency of OpenHydro, the Irish French tidal energy company currently grappling with a tsunami of debt, is getting very fraught.
On one side is the Naval Group, a French naval and defence giant with revenues of €3.19 billion. Naval is the major shareholder in the company, and, as of last month, it had handed over €260 million in equity and debt to the OpenHydro Group, and was owed a cool €120 million.
Subscribe from just €1 for the first month!
All Digital Access + eReader
Unlimited Access for 1 Month
Then €19.99 a month after the offer period.
€149 For the 1st Year
Unlimited Access for 1 Year
90 Day Pass
Get a Business Account for you and your team