London Daily

Focus on the big picture.
Thursday, Sep 03, 2026

Stricken council-backed solar farms giant to shine light on auction

Stricken council-backed solar farms giant to shine light on auction

Toucan Energy, which went bust owing Thurrock Council more than £650m, is to be put up for sale in a process overseen by the accountancy firm KPMG.
An insolvent solar farms empire which received hundreds of millions of pounds in funding from a debt-laden English local authority is being put up for sale.

Sky News has learnt that Interpath Advisory, which was appointed administrator to Toucan Energy last month, will confirm on Friday that KPMG, the accountancy firm, has been hired to oversee an auction of its assets.

Toucan Energy called in insolvency practitioners "after concluding that its liabilities exceeded its assets", according to a statement from Interpath in November.

The company owns 53 solar parks across the UK, and major energy industry groups are expected to participate in the forthcoming sale process.

Toucan Energy's travails have attracted attention because Thurrock Council provided more than £650m of financing to the business, triggering a wave of criticism of the local authority's decision-making.

Thurrock Council is likely to recover a significant chunk of that money through the impending solar farm disposals, according to industry sources.

Jim Tucker, managing director at Interpath and joint administrator, described Toucan Energy as "a significant portfolio of high-quality renewable generation assets which, as the UK accelerates its transition towards a green and renewable future, have an important role to play in the nation's energy security strategy".

"The underlying solar park operations are not in administration and continue to operate as normal.

"Given their significant underlying cash generation, we expect considerable interest in the assets."

KPMG's appointment is expected to be confirmed in an update to Toucan Energy's creditors which is expected to be circulated on Thursday.

Interpath was previously the restructuring arm of KPMG's UK business.
Newsletter

Related Articles

0:00
0:00
Close
UK Business Confidence Improves but Remains Deeply Negative
Aberdeen Hydrogen Bus Sale Recovers Just Six Pence for Every Pound Invested
Which? Exposes Booking.com Verification Failures With Fake 10 Downing Street Listing
British Business Bank Invests Up to £46 Million in Deep-Tech Startup Fund
Scottish Government Puts Violence Against Women at Center of Legislative Program
FCA Eases UK IPO Rules to Strengthen London’s Listing Market
UK Likely to Avoid Next US Tariff Measures as Washington Targets EU
Macron Visits UK for Bayeux Tapestry Exhibition and Border Security Talks
British Chambers of Commerce Cuts UK Growth Outlook to 1% for 2026 and 2027
Keir Starmer Resigns as MP for Holborn and St Pancras, Triggering By-Election
Prime Minister Andy Burnham Unveils Devolution and Cost-of-Living Agenda
UK Borrowing Costs Surge as 30-Year Gilt Yield Reaches 5.88%
Cleveland Police Receive £2 Million to Tackle Serious Crime in Middlesbrough
Number of Young People in England Without a Close Friend Reaches Record Level
Five Arrested After Newborn Baby Dies From Stab Wounds in Sheffield
Nigel Farage Faces Questions Over Reported Second Parliamentary Standards Investigation
UK Retirement Funding Requirement Rises by £64,000 Compared With 2021
UK House Prices Rise for First Time Since April, Nationwide Says
FCA Chief Faces Allegations of Intimidating Consumer Group Over £9 Billion Car Loan Inquiry
Scottish Government Presses Ahead With Cap on Essential Food Prices
Burnham Government Moves to Overhaul Early Prison Release Scheme
UK Records Hottest Summer on Record in 2026, Met Office Says
UK Government Announces Major Reset of Diplomatic Policy Towards Israel
UK Pushes Back After Trump Reopens Falkland Islands Sovereignty Dispute
Keir Starmer Resigns as MP, Triggering Holborn and St Pancras By-Election
Andy Burnham Blames Brexit for UK’s Decade of Weak Growth in First Commons Address
England Faces Renewed Scrutiny Over Sewage Discharges and Water Quality
Victoria Beckham Business Reports First Operating Profit Since Launch
BT Expects £2 Billion From Copper Sales During Full-Fibre Rollout
UK Train Drivers Secure 3.6% Pay Rise and Avert Strike Action
FCA Chief Faces Scrutiny Over Alleged Pressure on Consumer Group in Car Finance Case
Kemi Badenoch Names Andrew Griffith Shadow Chancellor in Conservative Reshuffle
UK House Prices Rise for First Time Since April
UK Shop-Price Inflation Accelerates to 1.5% in August
Met Office Data Point to Hottest UK Summer on Record
UK Announces Emergency Prison Release Measures and £110 Million Capacity Expansion
UK Launches Expanded Free School Meals and 1,400 Breakfast Clubs
Bank of England Governor Warns G20 of AI-Related Economic and Cyber Risks
Prime Minister Andy Burnham Calls for Greater Public Control of Water, Energy and Transport
UK Gains Full Access to £13 Trillion Trans-Pacific Trade Bloc
UK Long-Term Borrowing Costs Hit 28-Year High as Oil Shock Drives Global Bond Selloff
Royal Mail Keeps First-Class Stamps at £1.80 and Second-Class at 91p
Church of England Prepares Formal Apology Over Historical Forced Adoptions
UK Competition Regulator Caps Veterinary Prescription Fees at £21
UK Aviation Authorities Roll Out Airspace Changes to Reduce Flight Delays
England Makes School Allergy Policies Mandatory Under Benedict’s Law
England and Wales Tighten Child Safeguarding Checks by Removing Supervision Exemption
Cornwall Geothermal Plant Begins Commercial Power and Lithium Operations
UK Inflation Holds Near 2.9% as Energy Costs Remain a Risk
UK Productivity Growth Averages 1.1% Over Two Years, Resolution Foundation Says
×