Installer went bust - who gets the FIT??

Bendy_House

This refers to a school where I'm one of the guv's. 

We had a largish - I think around 14-16 panels and two inverters - PV system fitted a good 10+ years ago. It was, as I just about recall, partly with a grant and partly 'free' by a company who claimed the FIT. I can get this info, tho' don't have it at the mo'.

Anyhoo, seems the installer has gone bust. Soooo, who gets the FIT?! I presume whichever co. took over, but what if one hasn't? 

Is there ANY chance...?!

Ta.

CKhalvashi

The panels at the moment will be owned by the company that is (presumably) in administration/liquidation, so it will be them.

Whether the insolvency professional decides it's in the best interests (in the case of administration) to stop all new work and use the incoming payments to service the debt or whether (in both cases) it's considered better to sell the assets as a wholesale project will largely be up to who is dealing with this.

As someone active in this area of investment (insolvencies, not solar systems), I can tell you that insolvent assets tend to go for a small fraction of what they're worth, so if the company is in administration it's likely to be better to not sell, especially at the 10+ year ago rates.

Until something has changed, nothing will change.

paul991

why not talk to receivers and try to purchase the rights 

Exiled_Tyke

paul991 said:

why not talk to receivers and try to purchase the rights 

This would appear to be good advice.   The insolvency pracititioner is under an obligation to get the best price they can for assets. These rights should be sold for a fair market value given the nature of them but there is still a chance the school could get a bargain.  It is definitely worth a conversation. 

Bendy_House

Thank you all.

Yup, I didn't expect it to be a simple handover :-(

I will get the installer's details and do some investigating.

Cheers.

Exiled_Tyke

Bendy_House said:

Thank you all.

Yup, I didn't expect it to be a simple handover :-(

I will get the installer's details and do some investigating.

Cheers.

If you find the name of the installer. You should the be able to look them up online at companies house. You should then find details of the appointment of the insolvency practitioner who you can then contact. 

Bendy_House

It was 'Naturalwatt' of Exeter - seems they were dissolved back in 2013!

Houghton Stone Business Recovery in Bristol was appointed to wind it up, and this was all sorted back then.

No mention of FITs in their assets (which were pitiful).

Any thoughts as how to possibly chase a FIT?!

paul991

try using mpan number https://cfr.ofgem.gov.uk/#/
any how  i think ofgem be people to  ask

Bendy_House

Thanks Paul - I'll try that.

70sbudgie

There is a register for FITs. I remember reading about it on the Octopus website when I applied for my SEG - they had to check the FIT register as I couldn't have both. I think it also linked to where I could check for myself (I didn't need to as my panels went in long after FITs ended)

Alnat1

From OFGEM's website, sounds like you may need to contact them for the information.

The aspects of the scheme which Ofgem administer include:

• Running the Central FIT Register and the Renewables & CHP Register - the databases of all accredited installations