# Heat-Tricity LLP (OC382784)

> Why UK company OC382784 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/OC382784

- **Status:** Administration ended
- **Administration began:** 2014-05-20
- **Administrators:** Simon Harris, Cameron Gunn, Mark Supperstone
- **Administrators' firm:** ReSolve
- **Incorporated:** 2013-02-22
- **Location:** London

## Why it went into administration

- Funding withdrawn / unable to refinance
- Loss of a key customer, supplier or contract
- Property / lease costs
- Regulatory change or action

## From the administrators' statement

The LLP was incorporated on 22 February 2013 and operated from leased premises in Bodmin, Cornwall, which are shared with E-Tnity Ltd (E-Tricity), a related entity

The LLP was formed for the purpose of buying, installing and leasing to customers industrial, 99KW to 999KW, wood pellet boilers in a range of commercial properties In return for this, the Government-funded Renewable Heat Incentwve (RH!) was applied for online and paid to the LLP The RHI payments are made over a 20 year period by Ofgem and increase at rates governed by the Retail Price Index The quantum of each RH! payment is determined by a meter reading taken on a quarterly basis

The LLP borrowed money from the secured creditor, GCP RHI Boiler 2 Limited (GCP), with whom it entered into a facility agreement on 3 April 2013, in order to purchase the purpose built boilers from Hoval Limited (Hoval) GCP originally provided the LLP an amount of £11m, which was held tn a secure bank account with the first interest payment due on 20 April 2014

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/OC382784/filing-history/MzEwNDE0MTUxN2FkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/OC382784

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.