Wind Blade Maker TPI Composites Files for Bankruptcy in Texas

(Bloomberg) – Wind turbine knife manufacturer TPI Composites Inc., the debt of Oactre Capital Management with the support of the lending OakTree Capital Management applied to Chapter 11.

According to a Bankruptcy Court document dated Monday, the company listed the estimated assets as well as estimated assets to $ 500 million to $ 1 billion to $ 10 billion.

Headquartered in Scottsdale, Arizona, TPI operates factories in the USA, Mexico, Türkiye and India according to the website. He said that they have a annual net sales of $ 1.3 billion and produce more than 6,500 wind knives annually and 27% of them except China constitute the global market share.

The Chairman of the Executive Board Bill Siwek said that “Editions throughout the Industry” TPI created financial difficulties for the TPI.

Economic, supply and political barriers have squeezed the wind industry in recent years. Inflation and supply chain hiccups launched project delays and cancellations, even before President Donald Trump returned to office. Now, the industry is struggling with a few White House moves to arrest the growth of renewable power and also increases fossil fuels.

According to the statement, Oactre agreed to provide a debtor financing up to $ 82.5 million, including a new money of $ 27.5 million to support the company’s activities. The lender also agreed to use TPI’s cash collateral.

TPI said it would continue to work normal, including continuing to operate production areas and providing knife services.

The case, the case number 25-90283 TPI Texas LLC, Texas Southern Region in the US bankruptcy court.

-Help from Brian Eckhouse.

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