How Will PG&E’s Bankruptcy Impact the CleanTech Industry?

On January 14, 2019, California’s largest utility, PG&E, filed a bankruptcy notice stating that it plans to file for Chapter 11 bankruptcy by the month end on January 29th. Given its business situation, PG&E must proceed with the bankruptcy process unless lawmakers step in because PG&E’s current liabilities from California’s 2017 and 2018 fires are about 10 times PG&E’s current market cap of $3.5 billion, which is down 90% since last Fall. Obviously, this is a big issue for the cleantech industry since PG&E covers a territory that runs from Eureka to Bakersfield, including 106,000 miles of electric grid.

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