Kingspan Renewables acquires collapsed Scottish wind-turbine maker

PROVEN Energy Ltd, the Scottish wind-turbine maker forced into receivership last month because of a product fault, was sold to Kingspan Renewables Ltd.

The sale will safeguard the jobs of Proven Energy’s 20 remaining employees and manufacturing will continue at its facility in Ayrshire, Scotland, according to an emailed statement yesterday from KPMG LLP, the company’s receivers.

Terms of the sale were not provided. 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 company made turbines for homes and farms, and had more than 3,000 units installed worldwide. A total of 55 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.

He said a decision on a 15-kilowatt turbine will be made in the future, though this is unlikely to be on the market before January 2013.

Kingspan Renewables is a division of Dublin-listed Kingspan Group, a maker of insulation panels.