Britain’s green companies having a hard time

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email

According to a survey by the Renewable Energy Association (REA), 32 out of 39 green energy companies in Britain have admitted to a shortage of cashflow and are finding it hard to obtain loans from banks.  With other countries investing highly in renewable energies, the United Kingdom may be at a huge disadvantage.

The Director General of the REA, Philip Wolfe, said, “Given all the rhetoric on ‘Green New Deal’ and ‘Green Tech’ it is astonishing that so far the renewables industry has received no dedicated support – even in areas that don’t cost extra money.”

A few days before the survey was released, BP had cut 620 of its 2,200 solar jobs due to global over-production and because G20 ministers have not come up with any green solutions. 

Companies are having a hard time obtaining suppliers. Bioenergy, for example, had once relied on 20 suppliers for biodiesel it sells on to road hauliers now only has about two or three while the rest are out of business. 

In just the course of one year, things have gotten sour.  Brian White, a director of the Milton Keynes-based green fuel company, said, “This time last year we were positively talking to our bank about borrowing money to buy some refining plant that was being sold off. But by November and December, when we needed an overdraft for a few thousand pounds, they were not interested.”

MGT Power is having difficulty finding banks willing to lend £250m for a 300MW woodchip power station in Teesside. Director Chris Moore said, “It’s not about the attractiveness of projects. People in renewables normally encounter trouble because they’re pushing difficult projects, but there are just literally no funds available.”

The complexity of accessing different government grants is contributing to the delaying of projects such as the One Planet Sutten, which plans to refurbish 3,000 buildings in south London and the Eco Innovation Park in the East Midlands.  Many of those who responded to the survey admitted to “just surviving from day to day.”

28 July 2021
LONGi has launched its Hi-MO N module, the company's first bifacial module with N-type TOPCon cells, designed to deliver ultra- high value and lower LCOE to utility-scale PV power plants. This PV TechTalk Product Series webinar will provide an overview of the module’s technology and how the introduction of n-type technologies will provide efficiency and performance gains for solar project developers.
29 July 2021
This free webinar will explore the ongoing opportunities in the UK solar PV market, looking at global technology trends and how they apply to the UK. Join us for an overview of the project pipeline and forecast for deployment over the coming years. We'll be looking at the types of modules available and being used in the UK and presenting a case study on the deployment of bifacial modules in this market.
19 August 2021
The utility-scale PV market is poised for exponential growth and yet the industry still has many fundamental opportunities to improve on standards and best practice. Tracker shade loss has been one of those topics that deserve more attention, but has been typically handled by derate factors rather than trying to accurately forecast the loss over the life of the system. Join Nextracker’s subject matter experts, Aron Dobos and Neelesh Umachandran, and Rounak Kharait, director of solar energy assessments at DNV, for a webinar about why shade modeling matters and recommendations on what the solar industry should do about it.
25 August 2021
Energy Next is a new industry exhibition focusing on the latest renewable energy and energy efficiency technology, which will be held for the first time in 2021 in Sydney, Australia alongside the Clean Energy Council’s Australian Clean Energy Summit, the peak gathering of leaders driving Australia's energy transformation. Organised by the same people behind Australia’s largest clean energy event, All-Energy Australia, Energy Next will give visitors two days of access to key suppliers in the industry, free-to-attend professional development and industry workshops, and networking opportunities to better understand clean energy issues and solutions and learn about the latest developments in this transformational, dynamic sector.
25 August 2021
The Intersolar Summit Brasil Nordeste takes place in Fortaleza, Brazil. It addresses leading local and international experts on solar power and renewable energy in the region. The Summit’s mission is to provide in-depth education, enable high-quality networking opportunities, expand the use of PV technologies at regional and national level and strengthen the local PV industry. The Intersolar Summit Brasil Nordeste is organized by Intersolar South America - Latin America’s largest exhibition and conference for the solar industry: Solar Promotion International GmbH, Pforzheim, Freiburg Management and Marketing International GmbH (FMMI) and Aranda Eventos & Congressos Ltda, São Paulo as co-organizer.
25 August 2021
Join us to hear directly from the CTOs and heads-of-research from the top-20 cell/wafer producers to the PV industry today. The event will focus on predicting the key metrics underpinning the next big shift to n-type with answers to the key questions: When will the transition to n-type happen? Which companies will be first to 10 GW capacity and production? Who will be the key equipment suppliers for the new production lines? Which n-type process flow/architecture will emerge as the front-runner? What will polysilicon purity and wafer thickness levels look like for optimized n-type manufacturing? What will the upstream poly/wafer supply-chain look like in 5 years from now?

Read Next

July 23, 2021
As solar continues to proliferate and spread into new markets, the technology is finding itself operating in tougher climates than ever before. PV Tech talks to research institute QEERI to learn more about the heightened risk of soiling in the desert, the growing prominence of abrasion and some surprising results from temperature coefficient testing.
July 23, 2021
China could install up to 65GW of solar this year, driven largely by a surge in demand for distributed solar installations, while average solar deployment could reach 90GW per year in the years leading up to 2025.
July 23, 2021
EDF has secured a contract to lead the development of a 240MWp floating solar project in Laos that will be co-located with a 1.08GW hydropower plant.
July 23, 2021
Polysilicon manufacturer Daqo New Energy has completed its Initial Public Offering (IPO) of its main operational subsidiary Xinjiang Daqo New Energy on the Shanghai Stock Exchange’s Sci-Tech innovation board.
PV Tech Premium
July 23, 2021
A reduction in deployment costs combined with technology gains mean solar-plus-storage is an increasingly attractive option for off-grid mining operations looking to cut emissions. Jules Scully looks at successful case studies and the opportunity ahead.
July 23, 2021
German solar developer and distributor BayWa r.e. has rebranded Enable Energy, which it acquired in September 2020, as BayWa r.e. Power Solutions

Subscribe to Newsletter

Upcoming Events

Solar Media Events, Upcoming Webinars
July 29, 2021
Webinar
Upcoming Webinars
August 19, 2021
At 9am (PT) | 6pm (CEST)
Solar Media Events
August 25, 2021
Solar Media Events, Upcoming Webinars
October 6, 2021