Toucan Energy Holdings 1 Limited – administration

Toucan Energy Holdings 1 Limited, which owns, via a number of Special Purpose Vehicle subsidiaries, a portfolio of 53 solar parks with a combined capacity of 513MW located across England, Wales and Northern Ireland, entered administration on 10 November. The Company sought the appointment of Joint Administrators after concluding that its liabilities exceeded its assets. The underlying solar park operations are not in administration and continue to operate as normal. Jim Tucker, David Pike and Kristina Kicks from Interpath Advisory were appointed as Joint Administrators. Given their significant underlying cash generation, the Joint Administrators expect considerable interest in the assets. They anticipate working closely with their M&A advisors, as well as Thurrock Council as the Company’s major creditor, to bring the assets to market in a full, unhurried, sales process.