Ecotricity

Ecotricity Ltd is a wholly owned, non-trading subsidiary of Nexgen Group Ltd. Group targets for 2010 include the construction of wind turbines able to produce 500MW– this would require 278 wind turbines of 1.8MW each.

As at 1/10/03, the Group has 7 installed turbines on 5 sites in the UK. They report that they are in the planning phase on 8 other sites for a total of 42 new turbines including the 2 at Cucklington. This total includes 8 additional turbines at Mablethorpe in Lincolnshire (currently 2) where they are appealing against the refusal of planning permission, and 20 turbines at another Lincolnshire site, Conisholme. They have recently lost their appeal against planning permission refusal for 2 new turbines near their existing 2 turbine site at Swaffham – this is supposed to be their flagship site.

Nexgen Group Ltd is a private company. It is owned by 2 individuals, Dale Vince (66.6%) and Karen Lane (33.3%), there are no other shareholders. It is run by a single Director, Dale Vince and the Company Secretary, Phillip Catherall. During the 18 month period to 30/04/02, the Group had turnover of £38.5m, an increase in cash of £3.6m to £9.3m and an average of 26 employees. The Directors emoluments in this period were £231,366. These accounts show no charitable donations having been made.

Nexgen Group Ltd has 20 wholly owned subsidiaries. Typically, each wind factory (they use the term “Wind Park”) such as Swaffham, is set up as a separate subsidiary company run by a single Director, Dale Vince and a Company Secretary, Phillip Catherall. It would appear that the Group can be split into 2 main sectors. The first, The Renewable Energy Company Ltd has a stated principal activity of “the selling of renewable energy”. In the 12 months to 30/04/02, it had sales of £16m and cash increased from £3.6m to £7.7m. In this period, there were no employees other than the Directors. The second, Next Generation Ltd appears to be an intermediary holding company for the individual “Wind Parks”. Unfortunately only very limited financial information is available for the individual “Wind Parks”.

The above information was obtained directly from:

  1. The latest Annual Return or other submission to Companies House (as at 29/08/03).

  2. The Accounts as at 30th April 2002 for Nexgen Group Ltd and its subsidiaries.

  3. Company Searches conducted by the IOD on 29/08/03.

  4. Ecotricity website

  5. Information received by SVA from a former Company Secretary of Ecotricity.