Solar installer Solar Plants falls into administration following fundraising attempts

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Altered Energy – Alternative Energy news

Published: 9 Jan 2020, 08:55

Solar installer Solar Plants has gone into administration, ceasing to trade after eight years of business.

The HIES accredited and MCS certified installer, which has been operating since 2011, was plunged into administration late last year, with administrators from Grant Thornton appointed on 17th December 2019.

The company, based in Port Talbot in Wales, installed solar, domestic battery storage and electric vehicle charge points and employed around 40 members of staff. It held exclusive subcontractor agreements with a further 15 sole-trading installers.

It had been historically self-financing, as deposits and stage payments were required prior to and throughout the installation process, a spokesperson for Grant told Solar Power Portal.

“Grant Thornton was engaged to assist in November 2019 to attempt to raise finance and/or sell the business as a going concern. Despite positive indications and expressions of interest, the business ceased to trade,” the spokesperson said.

It follows Campbell & Kennedy, which shuttered its solar division in June last year following a fall in profits and delays to commercial solar projects caused by securing planning permission and tenant approvals.

And in July, renewables installer Carbon Zero Renewables was put up for sale by its managing director Gareth Jones, citing policy uncertainties.

Original Source

Altered Energy – Alternative Energy news