The wind sector will receive an unlikely boost from turbine manufacturer Proven Energy collapsing, although the same can’t be said for its customers, according to the managing director of Myriad CEG.
Last month Proven Energy stopped sales of its Proven 35-2 turbine after finding a defect in three machines and forced the company’s collapse. Irish player Kingspan rescued the company by buying its assets, but the owners of faulty machines won’t be protected by the new company.
Phil McVan of Myriad CEG alleged that Proven’s new owners would not be obliged to honour the guarantees for existing customer, which could leave some stuck with broken wind turbines. However, the boss of the renewable energy company said there was a silver lining for the sector as a whole: “The entry of a large player like Kingspan into the space left by Proven can only help the wind sector mature and grow stronger.”
“The industry needs the investment that larger organisations can bring which will create jobs and train workers. That’s important because one of the government’s renewable energy targets is employment and job creation. The entry of larger organisations should also mean improved standards and procedures, with reliability and quality not an issue as the sector moves away from the cottage industry approach.”