British firm Ripple Energy, which worked with the co-op sector to help communities invest in renewables, has entered administration, according to a notification sent to its customers.
The business, launched in 2017, offered a platform where communities and individuals could invest in wind and solar co-ops, in return for discounts on their energy bills. Its directors have sought the appointment of insolvency practitioners from Begbies Traynor, triggering the administration process.
Ripple does not own the wind and solar sites – they are the property of their co-ops, and will continue to function under the supervision of their respective boards.
Co-ops operated by Ripple include Graig Fatha wind farm (pictured), near Coedely, Rhondda Cynon Taf, which launched in summer 2020 in partnership with Your Co-op Energy. Owned by over 900 members, it has been supplying its owners with green electricity since March 2022.
Kirk Hill, a wind farm with eight turbines, is located near Kirkoswald in South Ayrshire. The co-op is made up of 5603 individual members and 18 businesses, with co-investment from commercial property firm Bruntwood is a co-investor. In January, it generated 4,688MWh of electricity, says Ripple.
Derril Water, a 42 MWp solar farm situated near Pyworthy, Devon, was due to go online this spring.
Administrators are now talking with the co-op boards to ensure a seamless transition to other parties for the management of these projects. The insolvency practitioners will also reach out to Ripple’s creditors in the near future.
Begbies Traynor said it is in “advanced discussions with a number of interested parties” with regard to selling the business, adding: “Ripple Energy will continue to trade while the joint administrators seek a suitable buyer … and it is anticipated that there will be no disruption to the service during the sale process.”
Ripple has been contacted for comment.
