KINGSPAN GROUP has bought Proven Energy, a Scottish wind-turbine maker forced into receivership last month because of a product fault.
The sale to Kingspan Renewables will safeguard the jobs of Proven Energy’s 20 remaining employees and manufacturing will continue at its Stewarton facility in Ayrshire, Scotland, according to an e-mailed statement from KPMG LLP, the company’s receivers.
Terms of the sale were not provided and KPMG was not available for further comment.
Faults in three of Proven Energy’s 35-2 turbines led the company to suspend sales and appoint receivers after failing to obtain additional funding.
The firm made turbines for homes and farms and had more than 3,000 units installed worldwide. Fifty-five workers lost their jobs.
“Kingspan Renewables intends to launch 6-kilowatt and 3-kilowatt turbines, incorporating the high performance, reliability and key features of the Proven P11 and P7 models, and will manufacture these products in Stewarton,” managing director Noel Crowe said in the statement. – (Bloomberg)
