Scottish Wind Company Goes Bankrupt As UK Govt Cuts Green Subsidies

Scottish Renewables says the news is ‘disappointing’ and blames cuts to UK Government support and a ‘lack of direction for the policies which should sustain a viable market for their products’

Gaia-Wind had a long and successful history in the industry

Glasgow-based manufacturer of small wind turbines Gaia-Wind has gone into provisional liquidation, putting 12 jobs at risk, with a reduction in UK Government tariff support given as one of the reasons.

The firm has announced that Michael Reid, Meston Reid & Co, Aberdeen was appointed provisional liquidator by the Court of Session in Edinburgh on 13 March 2018.

Although Gaia-Wind has a long and successful history in the industry, it said 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 led 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.