Endurance wind power declare bankruptcy

[Bridget]

All the shares of Endurance Windpower UK are held by Endurance Wind Power Inc, so if the parent company has gone down, the UK arm will surely have too.

 

[DC21]

Correct, lots a cross guaranteed debt from Inc. into most of their UK interests. The liquidator will be looking to create some value for the UK assets and operations though.

 

[Funny Farmer]

Correct, lots a cross guaranteed debt from Inc. into most of their UK interests. The liquidator will be looking to create some value for the UK assets and operations though.

In my experience the liquidator will be looking to submit astronomical bills just to tell the creditors they're going to get precisely zilch!

 

[DC21]

Had some good conversations on spare parts this week. Too early to give more detail, but it looks like we will have a good solution for some of the more challenging items (bed plates, blades, hubs, etc.).

 

[kill]

Had some good conversations on spare parts this week. Too early to give more detail, but it looks like we will have a good solution for some of the more challenging items (bed plates, blades, hubs, etc.).

Hopefully cheaper parts now than from Endurance then

 

[DC21]

Who knows.... time to find out how much EWP were inflating them.

 

[Princess Pooper]

Had some good conversations on spare parts this week. Too early to give more detail, but it looks like we will have a good solution for some of the more challenging items (bed plates, blades, hubs, etc.)I

I'm guessing here but I am hoping that a new central 'parts company' will be formed, which all Endurance repairers can access, to ensure an efficient supply chain and that there are always parts available, but minimising the amount any one company has to have tied up in stock. It would seem the sensible way to go, time will tell.

 

[DC21]

It does look to be going that way for a number of the parts that are custom manufactured.

For somethings it doesn't make sense to source a third party though - a lot of stuff is off the shelf from the OEM.

 

[Sandy]

It does look to be going that way for a number of the parts that are custom manufactured.

For somethings it doesn't make sense to sure a third party though - a lot of stuff is off the shelf from the OEM.

What's happening with Eric?

 

[DC21]

It's running for the moment, the administrators listened on that point.

I am sure it will survive, just don't expect it to be free....

 

[Sandy]

It's running for the moment, the administrators listened on that point.

I am sure it will survive, just don't expect it to be free....

Aye I know it's not going to be free it's going to be quite expensive really.

 

[DC21]

No doubt whoever buys it will want a good return on their investment. I can see it now, "so Mr Jones, how much is it worth to unlock your turbine...."

 

[How much]

Aye I know it's not going to be free it's going to be quite expensive really.

Its not free now is it ?, im assuming we are all on overpriced service contracts on tha basis that it ensures our now non existant warrenty! !!!!
And to be honest its rubbish , other than telling you what it's doing now , I get nothing no history on downtime fault history etc and it needs more data per month than a teenager with an internet gaming addiction

 

[DC21]

EWP made annual charge whilst you were in warranty. You effectively paid for the ERIC service whilst in warranty when you bought the turbine. If you read the T&Cs for ERIC it effectively says EWP can charge an undisclosed sum for it in the future.

I do know that EWP had started charging dealers for ERIC once turbines came out of warranty - our first came out earlier this year and I got an invoice for £1,200 plus VAT - that was for one turbine for one year.

I suspect the whole ASP thing was built around getting everyone to sign up to an expensive long term deal and provide EWP with a revenue stream.

 

[kill]

EWP made annual charge whilst you were in warranty. You effectively paid for the ERIC service whilst in warranty when you bought the turbine. If you read the T&Cs for ERIC it effectively says EWP can charge an undisclosed sum for it in the future.

I do know that EWP had started charging dealers for ERIC once turbines came out of warranty - our first came out earlier this year and I got an invoice for £1,200 plus VAT - that was for one turbine for one year.

I suspect the whole ASP thing was built around getting everyone to sign up to an expensive long term deal and provide EWP with a revenue stream.

Bleady con merchants . How many times were they planning on screwing customers?

 

[WindCare]

IMHO the amount of money E series turbine owners were charged for O&M / ERIC in the past was ridiculous. The EWP/ASP model was effectively a cartel which locked out independent specialist O&M companies like ours who didn't sell turbines (we just look after them) - the only reason we were allowed to be trained/approved by EWP was so we could work for them direct. I wonder why that was?!

 

[Sandy]

Will there be another monitoring system other than Eric?

 

[WindCare]

Yes. For example we are building our own bespoke remote monitoring system which does everything Eric does (and much more user friendly) and will be available free to all our customers. I am sure there will be others too.

 

[Princess Pooper]

I see local Worcs press have got hold of the news that Hartlebury has gone into administration. The administrators from Grant Thornton are restructuring specialists (one a very recently appointed partner) who have gone on record as stating that they want to realise the value in the 2 UK companies as a going concern.

 

[DC21]

Will there be another monitoring system other than Eric?

We'll be making an announcement next week, I was with our software team yesterday trialing our new system.