Ripple energy "strike off"

[Joeboy]

I see that Ripple changed their business address on 6th March. So I had a look at it.

Read the following pic with dark humour please.




And as Bobby McFerrin said....

[cojmh]

Thanks for all the updates - been away from the computer today!

Cannot say I am surprised - but it looks like we should all come out the other end relatively unscathed - hopefully.

Chin up everyone

[richbee]

I just received an email from ripple saying that they are being forced to cease trading - as predicted above

[Joeboy]

Lying right up to the end. Online safety act my arse. Self serving scumbags. I'm glad they've went tits up. There'll be a cleaner taste and more professionalism in whatever rises afterwards.

If Octopus sweep in I'll be deep into GF again.

It'll all come out in the wash. I called for Sarah to be kicked out late October. They didn't like that!

Ripple mail
"I am sorry to inform you that it has been necessary to cause Ripple to cease to trade. The directors have been required to seek the appointment of insolvency practitioners from Begbies Traynor as administrators.

The cooperatives Ripple managed will continue to operate under the direction of their respective boards. It is important to remember that the wind farms and solar parks are owned by the respective cooperatives, not Ripple.

Generation at Graig Fatha and Kirk Hill wind farms will continue as normal. Operations and maintenance is carried out by third parties, under contract to the wind farms, not Ripple.

Derril Water solar park is currently under construction. Construction is led and managed by an experienced third party contractor, they will continue to manage the project’s build on behalf of the cooperative and its members.

The administrators are in discussions with the Boards of the cooperatives to try and secure a smooth transition to other parties to manage the projects on behalf of the coops.

The administrator will also be in contact with Ripple’s creditors in due course."

KH mail
"We are writing to clarify the rapidly developing situation with our managing agent, Ripple Energy Ltd.

Over the last few weeks, we have known that Ripple has been struggling as a business, and we have been working with them to find a solution where they could continue to provide their contracted managing agent services to the coop.

However, their situation has become untenable, and they have had to apply to be entered into administration. This situation in itself is challenging, but it does not impact directly on the viability of Kirk Hill Wind Farm Ltd, the coop or the associated assets.

Kirk Hill Wind Farm Ltd is firmly focussed on delivering the audited accounts for both elements of the business, which is our primary concern.

We are working with the other Ripple managed coop boards to ensure that we are all able to continue to manage and deliver member benefits, however there will undoubtedly be some changes as we transition to a new managing agent.

Be assured, your investment is secure, and Kirk Hill Wind Farm Ltd continues to be a going concern with regular income received directly from the sale of the electricity produced.

We will update you as soon as we have more to report in the coming week."

[Swwils]

Quelle surprise

[cojmh]

Oh well .... we shall have to wait to see what happens - at least the first three projects will keep going forward and hopefully the 4th project is either fully refunded or goes ahead properly.

The email says that they were aware of the business struggling for a few weeks - but given how over due some of the accounts are and the fact they were looking for £25 deposits for priority access .... I suspect this issue has been going on a lot longer than they are perhaps willing to say.

Anyway, as you say .... hopefully the only way is up

[Tinbum]

I invested in Ripple it's self as did many others looking at what was raised on Seeds. It astounds me that they have failed with the backing of the many £ millions they had.

[nowty]

Exactly as I described for GF, KH and DW, but I note the email from Ripple did not mention WB.

[Moxi]

Yes I noted the absence of any detail on WB, I took that to mean thats where the wheels fell off and Ripples exposure exceeded their financial abilities.

Just got to wait and see what the administrator finds

Moxi

[NoraBatty]

Do they even know they have 4 projects?!

Ive not received an email yet and there seems to be nothing on the ripple site saying any of this.

No mention of WB at all in that email.
If it wasnt for you guys sharing we would be none the wiser.