We are doing what we can, but when a company goes into liquidation there isn't much you can do. The warranty is a limited manufacturer's warranty with no underwriting. Of course if the directors have acted improperly they will be personally liable.
If you are looking at companies house and Endurance, Dream etc. just check out the debt and guarantees across the various companies, I suspect the liquidator will be knocking on quite a few doors asking for money!
I've heard the EWP UK will be filing for bankruptcy on Monday next week.
No. Just a general frank discussion and that was the response. Seamed like a reasonable idea but I guess the turbines were purchased on borrowed money so left far to little left over.Did you get that in writing from Brad?
Take a look Dreams 2015 accounts, 25% owned by EWP UK, and owing £300k to .... probably EWP UK.
I do some work for a renewables investment fund. I had a conversation with them about Endurance - they like the turbines and, despite the company's insolvency, will continue to buy operational turbines in good wind speed areas that are earning the FIT. Their price of capital will be higher because there are no warranties and there are likely to be longer downtimes (availability of spares etc.) so inevitably the purchase price will reflect this. If anyone is interested I can put you in direct contact.It's a bleady shame that investment company's don't want to buy our problem's but any investment doesn't come RISK FREE
Its a fair point which I imagine the funders will need to become comfortable with during the DD process.I would say operational down times are likely to be less. We had a turbine shut down earlier this year for over 3 months waiting for warranty work - the hub had moved. If that happens now we will not be waiting from EWP, instead we will implement a fix and get the turbines back into service as soon as possible.
Is there a maximum down time after which pp becomes void ? Seem to remember seeing that somewhere .I would say operational down times are likely to be less. We had a turbine shut down earlier this year for over 3 months waiting for warranty work - the hub had moved. If that happens now we will not be waiting from EWP, instead we will implement a fix and get the turbines back into service as soon as possible.
pp?Is there a maximum down time after which pp becomes void ? Seem to remember seeing that somewhere .
Planning permission
Fairly sure it's 6 months without workingIs there a maximum down time after which pp becomes void ? Seem to remember seeing that somewhere .
Fairly sure it's 6 months without working
EWP UK still going?I wonder if the NFU will publish my comment.....
That number of flexible drive couplings would be useful. Have you sorted blades ok?Locks have been changed and no one is home last time I checked, I am expecting to hear more later this week. Certainly not available to supply any parts. Thankfully we have most of that sorted. Just means employing a few thousand of working capital!
I've located a stock of 35 yaw motors, which is helpful as the UK distributor quoted me a 12 week lead time! I reached out to few of the other distributors to see if they wanted to share. I don't really want 35!