Toucan Energy Holdings 1 Limited (12761143): administration
- Status
- Administration ended
- Administration began
- 2022-11-10
- Administrators' firm
- Interpath Advisory
- Incorporated
- 2020-07-22
- Location
- London
- Industry
- 64209 Activities of other holding companies n.e.c.
Why it went into administration
- Regulatory change or action
- Funding withdrawn / unable to refinance
From the administrators' statement
The Company was incorporated on 22 July 2020. It is the parent company of 60 subsidiaries, 27 of which are owned directly and the remainder indirectly. Via this group of companies, TEH1 controls a portfolio of 53 operating solar PV energy parks, with a combined capacity of 513 MW and which are located across England, Wales and Northern Ireland. This represents nearly 4% of the UK’s total for solar energy production.
The principal activity of the Company is a holding company, providing management services to its subsidiaries from which it receives (i) income generated from the sale of their solar electricity generation and ROCs; and (ii) management services income. This revenue is in turn used by the Company to service interest on its Bonds.
At the time of our appointment the Company had 1 employee. The Group had four other employees employed by its subsidiary TES.
Administrators' statement of proposals (2023-01-04) · Companies House register