Renewable Energy Goes Bankrupt Down South

Chapter 11 sign

Global Energy Holdings Group, an Atlanta-based renewable energy company, has filed for Chapter 11 bankruptcy protection — demonstrating, ironically, the harsh outcome of limited resources.

Yahoo Green News: In a filing Wednesday, Global estimated assets at about $28 million, and liabilities at about $3.7 million.

Global Energy, formerly known as Xethanol Corp., warned in a recent securities filing that it needed substantial additional capital, but that the credit crunch has made it difficult to sell assets or obtain financing.

Continue reading here.

NOW WATCH: Briefing videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.