BusinessBusiness RecoveryBegbies finds buyer for energy farm

Begbies finds buyer for energy farm

A renewable energy centre based at the UK's first commercial wind farm in Cornwall has been sold as a going concern after a period in receivership.

Link: Receivers sell Independent Energy

Investment company Neovenator has bought the Gaia Renewable Energy Centre, which has been under the management of Begbies Traynor partner Andy Beckingham since March.

The centre was built in 2001 as an educational, community and tourist resource at the Delabole wind farm. It suffered cash flow problems and a fall off in visitors during the foot-and-mouth crisis.

Beckingham said: ‘The centre is rather different from most of the businesses we work with, and we have worked closely with both its trusteess and its secured creditors to get this result. The purchaser views the centre as an interesting and challenging project, and I am confident that it will achieve its full commercial potential.’

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