Ripple Energy
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Can’t comply with legal financial reporting requirements
The structure of Kirk Hill wind farm is ripple investors are members of and own the Kirk Hill coop. The Coop is the majority shareholder of Kirk Hill wind farm ltd which actually owns the wind turbines. Now the insestuous bit. Ripple directors are also directors of the coop and the limited company, ie. Ripple control it even though they don’t own it. The coop was almost struck off after Financial Conduct Authority action in Autumn 24. We were assured lessons would be learned, it was a one off, and it wouldn’t happen again. Guess what, 6 months later Companies House and have issued a winding up notice on KH Ltd because they haven’t filed accounts for 2023. The silence from Ripple who control all communication with coop and KH ltd board members is stunning. All we’ve had is a “we’re aware” statement. 2 KH Ltd directors have resigned, including CFO (same guy is also CFO for Ripple, CFO for the coop, and CFO of the Derril Water project) and replaced by directors from the company that has a minority holding in KH Ltd. We found this out from Companies House, nothing whatsoever from Ripple. So, if you like to worry about your investment, like to be kept in the dark, like not complying with financial legislation, and like being subject to enforcement action from regulators, go ahead and invest in one of their projects.
