Ecotricity owner Dale Vince has shelved plans to sell the green energy firm, citing the “turbulence” in the sector.
In the spring, Mr Vince, who is also the chairman of football club Forest Green Rovers, announced his intentions to leave the Stroud-based company he founded almost 30 years ago, in order to pursue a political career.
In a message to customers that was later shared by Ecotricity on social media, the businessman said despite attracting interest from “several” potential new owners he had decided it “wasn’t the right time” to sell up.
Mr Vince wrote his decision was partly informed on world events, including Russia’s decision to cut off its gas supplies to Europe in response to sanctions imposed on The Kremlin over its invasion of Ukraine.
He added reports of former prime minister Liz Truss’ opposition to large solar farms had also given some prospective buyers “the jitters”.
Mr Vince went on to say it was an “exciting time” for Ecotricity, as it progresses projects including the first of two planned solar panel “sun parks” and an £11m mill in Berkshire, designed to “make gas from grass”.
I joined @ecotricity when I learned that most energy companies were not as eco conscious as they were purporting & horrifyingly as exposed by ITV some were using the burning carcasses of animals for power.
I’m happy that I can align my values even down to my utility supplier. pic.twitter.com/VUWn5k6XuA— Saffron Ⓥ (@SafferTheGaffer)
Ecotricity submitted fresh plans earlier this year for a major development called Eco Park off junction 13 of the M5 in Gloucestershire, which could include a ‘green tech’ business park and a new 5,000-capacity stadium for Forest Green Rovers.
Mr Vince wrote: “The way I see it, there’s never been a more relevant time to be a green energy company and for the leadership and innovation that is our hallmark - that is what we are made for. We know what needs to be done and how to do it.
“The energy crisis has cut across the traditional stand-off between climate action and perceived cost. The business case for 100% green is unarguable - and that’s an exciting place to be.”
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