Ripple energy "strike off"

[Moxi]

Thanks for posting that up for us JB

Moxi

[nowty]

My predictions is that the three projects will go their separate ways and operate as co-ops on a fixed interest payment system. I think GF has a chance of going it alone as a co-op with a small community control board. If i get the chance i'll be back in there to support them. I think derril and KH will be sold to bigger players to manage.

Nowty, keep that in mind if you hear back from GF board. I'm sure I'm not the only one willing to buy into GF to support it?

No idea what has happened with WB-Thrive money. Odd that Thrive haven't said anything. I think someone's going to jail on this.

Definitely agree with you there about GF, it is the golden unicorn project with no debt and being small enough to be managed by a community board. I would buy more if I could.

The main problem I see with both KH and DW is the high debt level which is around 40% to 50% of the build cost. And thats debt level is based on the build cost, not what the actual wind or solar farm is actually worth on the open market. The rejection of the CFD vote on both KH and DW will also not help their open market values.

I nearly posted something about 6 months back about my concerns with the cost of DW, but I was biting my tongue and did not want to be a scaremonger. One of my solar investments NextEnergy Solar Fund did a capital raising programme selling off some of their assets to reduce their debt. They sold an almost new (under a year old) 35MW solar farm for £28m and still made a decent profit on it. DW is slightly larger at 42MW but its cost per MW is circa 20% higher, was built when panels were cheaper and we don't yet know what the final costs are. Its also had storm damage which is not going to bode well with the build cost and with future insurance costs. So my point is that the % debt of KH and DW might be higher based on their open market NAV and eat into returns if interest rates remain stubbornly high.

Info on my mentioned Solar Farm sale here,
https://tools.eurolandir.com/tools/Pres ... gg-nesf&v=

[Fueltheburn]

Section 75 update.

£4k has just been returned to my credit card.

This has obviously gathered momentum and more damning I formation has come to light in recent days.

This was with Visa through Nationwide.

I specifically stated that Ripple had obtained a Pecuniary Advantage with my funds. Stating - I had purchased a portion of a wind turbine and that they had not delivered in the timescale expected. They also had no intention of building this now due to misappropriating funds.

Write a very concise explanation in your Section 75.
Good luck peeps.

[Tinbum]

that’s great news, still to do mine.

[MrPablo]

Great news FTB, I'll be putting my S75 claim in with Nationwide today or tomorrow.

[Fueltheburn]

I did mine directly on the Nationwide banking site.
Relatively easy to do. Took about 10mins to fill out.

I started a folder - this included screenshots of my payments to Ripple. Screenshots of their own timelines showing they have missed deadlines. Screenshot of conversations with online chat where they flat out refused to refund me.
Build your case. I then uploaded all this as evidence.
Then followed up with links and articles in the papers that had been noted here. Thanks for that.

Total time was 3 weeks from beginning.
When they require more info from you, it is sent via letter.

Bit of a faff but they won't make it easy as the bank and Visa or MasterCard are the ones taking the hit.

[Moxi]

Wife is just requesting the S75 form from our CC company

Moxi

[Joeboy]

I am doing my one now as I paid for No1's WB Watts via Ripple and No1 then squared me up. As it was on a debit card its called a chargeback. I will update as we progress.

[Joeboy]

https://www.thriverenewables.co.uk/proj ... -wind-farm

[AE-NMidlands]

which says:

we’re thrilled to have acquired the rights to build the 57MW Whitelaw Brae wind farm in the Scottish Borders.

As well as being our largest project to date, the deal marks another major step in our ambitious growth plans to double generation capacity within the next five years. It is the second project to be funded by Fair Play Clean Energy Ltd, Thrive’s joint venture with TopCashback Sustainability, which brings together a combined £80 million in capital to fund new clean energy projects in the UK.

Construction of Whitelaw Brae is expected to start in 2025, with commissioning planned by the end of 2026.

Presumably Ripple's administrators have sold it as quickly as they can, and / or Thrive have been watching the story as it has unfolded. I'm not in this one, but I have lost money in Ripple/Seedrs. Grrr!