Scottish Wind Company Goes Bankrupt As UK Govt Cuts Green Subsidies

  • Date: 15/03/18
  • The National

A wind turbine maker has collapsed citing international competition – and Westminster support cuts to the renewables industry.

Gaia-Wind, which celebrated the roll-out of its 1000th device from Glasgow last April, has appointed a provisional liquidator.

The company moved its operations to Scotland from Denmark seven years ago and had clients in countries including Tonga, Australia and Italy.

Yesterday the provisional liquidator, Aberdeen’s Meston Reid and Co, was looking for a buyer in a bid to save all or part of the business and secure 12 jobs.

A statement released by Michael Reid of Meston Reid and Co said cuts to renewables pushed through by Westminster in 2015, including the end of the main subsidies for onshore wind, had created problems for the company.

The statement said: “Although Gaia-Wind has a long and successful history in the industry, competitive pressures in Denmark reduced sales in the last year or so which was not helped by the UK government’s reduction in tariff support in recent years.

“Although a business plan at the end of 2017 provided a practical basis for survival, recent drastic cuts in Italian and Japanese government support for small scale wind turbines lead to dramatic reduction in the immediate order pipeline in those markets. Faced with these challenging circumstances in each of its main market areas, the board reached the unfortunate decision that the company had no option but to cease trading.”

Johnnie Andringa, Gaia-Wind director, said bringing in a liquidator had been a “last resort”.

Full story 

Recent Popular Articles


We use cookies to help give you the best experience on our website. By continuing without changing your cookie settings, we assume you agree to this. Please read our privacy policy to find out more.