Future Renewables ECO PLC (SC505596): administration
- Status
- In administration
- Administration began
- 2021-09-17
- Administrators
- Kenneth Wilson Pattullo, Claire Elizabeth Dowson, Gareth David Rusling
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2015-05-11
- Location
- Glasgow
- Industry
- 35110 Production of electricity
Why it went into administration
- Cash flow / liquidity pressure
- Parent or group failure
- Property / lease costs
- Regulatory change or action
From the administrators' statement
The Company was incorporated in May 2015 with the aim of delivering a substantial source of income whilst simultaneously encouraging an ethical and sustainable approach to electricity generation. The Company has nine wholly owned subsidiaries, eight of which have been placed into administration (together “the Group”).
Each subsidiary was constituted to operate wind turbines at a single site. One subsidiary has two sites, and hence the eight subsidiaries in administration have nine sites in total (three in Scotland; two in England; and four in Northern Ireland). Each site has a single turbine, other than one which has two turbines, making ten turbines in total.
The Group did not have any employees but instead outsourced its maintenance, operational, administrative and accounting functions. The Group structure is as follows with all of the subsidiaries shown being 100% owned by the Company, and all subject to administration proceedings.
Administrators' statement of proposals (2021-11-09) · Companies House register