Gaia-Wind Ltd – the Glasgow- based, and Scotland’s only – manufacturer of class leading small wind turbines – has gone bust.
It has called in Meston Reid & Co, Aberdeen, as liquidator, putting the jobs of its 12 workers at risk
Although a business plan at the end of 2017 provided a practical basis for survival, 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.
Michael Reid of Meston Reid, said: “Although Gaia-Wind has a long and successful history in the industry, 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.
“We are looking for interested parties to take over the business in whole or in part, or parties interested in acquiring the assets. Initial interest has been expressed from a number of sources and anyone wishing information should contact the provisional liquidator.
Gaia Wind director Johnnie Andringa, said “Appointing a liquidator is the last resort because the board has worked hard over a long period of time to develop a sustainable business in wind energy.
“With almost 2,000 wind turbines installed – mainly in UK and Europe as well as Australia, Tonga and Alaska – an opportunity presents itself for someone to purchase the service, maintenance and spare parts aspect of the business.
“With the turbine design offering the best price, performance and reliability available in the market, and demand still evident for the product in the UK and globally. It would be great if a trade sale could be achieved which preserves the jobs of the highly skilled and committed workforce”.
Derek Mackay, the local SNP MSP for Renfrewshire North and West – where Gaia-Wind is registered – commented: “Barely a day goes by without Tory energy and environment policy being called into question.
“The situation at Gaia-Wind is a stark reminder that the Tories are threatening crucial progress on climate change as well as jobs and investment in Scotland’s renewables industry.
“The Tories’ backwards decision to cut subsidies for the renewables sector has hampered growth in a vital industry of the future that experts say will be more cost-effective than nuclear power.
“It is clear that for Scotland to maintain a strong renewables sector, environment and energy policy must be devolved to the Scottish Parliament.”
15 Mar 2018