Future Of British Business
UK’s Biggest Sale of Solar Farms Kicks Off After Toucan Collapse
- Administrators aim to complete sale process this year
- Thurrock Council was owed £692 million by failed business
A Solar Park, near Lamas, UK.
Photographer: Ben Stansall/AFP/Getty ImagesThis article is for subscribers only.
Administrators to Toucan Energy Holdings 1, a failed owner of dozens of solar farms, have begun a formal sales process for the business, which received hundreds of millions of pounds from a bankrupt English council.
Interpath Advisory was appointed to handle the administration and sale of Toucan last November, as Thurrock Council in Essex revealed it was owed £692 million ($857 million) by the business. Interpath, which has hired advisers from KPMG to oversee an auction of the 53 sites, is hoping to recover losses through the sale of the farms.