A search for interested buyers of UK-based renewables developer Ripple Energy is underway, following the company’s entry into administration. Insolvency specialist Begbies Traynor has been appointed to manage the sale process after Ripple filed for administration last week.
The financial advisory firm confirmed that it is in “advanced discussions with a number of interested parties” regarding the potential sale of the business. Ripple Energy is expected to continue operations while the joint administrators seek a suitable buyer, with no disruption to services anticipated during the process.
Ripple Energy, established in 2017, had developed a unique business model where the public could invest in shares of a co-operative aimed at developing renewable energy assets. In return, investors were offered discounts on their energy bills.
