(Bloomberg) — Wind turbine blade manufacturer TPI Composites Inc. has filed for Chapter 11 to restructure its debt with support from lender Oaktree Capital Management.

The company listed $500 million to $1 billion in estimated assets, along with $1 billion to $10 billion in estimated liabilities, according to a bankruptcy court document dated Monday. 

Headquartered in Scottsdale, Arizona, TPI operates factories in the US, Mexico, Turkey and India, according to its website. It said it had annual net sales of $1.3 billion and produced more than 6,500 wind blades in a year, accounting for 27% onshore wind blade global market share, excluding China.

“Industry-wide pressures” have created financial challenges for TPI, Chief Executive Officer Bill Siwek said in a statement. 

Economic, supply and political hurdles have pinched the wind industry in recent years. Inflation and supply-chain hiccups prompted project delays and cancellations even before President Donald Trump returned to office. Now, the industry is grappling with several White House moves to arrest the growth of renewable power while also boosting fossil fuels.

According to the statement, Oaktree has agreed to provide a debtor-in-possession financing of up to $82.5 million, including $27.5 million in new money, to support the company’s operations. The lender also agreed for TPI to use cash collateral. 

TPI said it will continue operating normally, including continuing to operate its manufacturing sites and delivering blade services.

The case is TPI Texas LLC, case number 25-90283, in US Bankruptcy Court of the Southern District of Texas.

–With assistance from Brian Eckhouse.

More stories like this are available on bloomberg.com