UK renewable rating slips; Plastics recycler goes under; ZWS lauds circular economy businesses; New Recolight chair
UK renewable rating slips
The UK’s appeal as a destination for investment in renewable energy is now at its lowest level in 12 years, at eighth in the world, according to EY’s Renewable Energy Country Attractiveness Index published.
The change is seen as a result of the continuing lack of clarity around the future role of renewable energy within the UK’s overall energy mix, and the policy hiatus caused by May’s general election. Whether the recently announced Contract for Difference (CfD) regime will be sufficient to stimulate investment also contributed to the UK’s slip in the rankings.
Ben Warren, energy corporate finance leader at EY said: “The CfD regime as it stands does raise some questions.The very slow passage of market reform and the late introduction of the CfD regime has made it very difficult for developers to sanction investment in new projects.”
Plastics recycling firm goes under
A Sheffield plastics recycling business has gone into administration with the loss of 19 jobs.
R3 Products of Ecclesfield ceased trading shortly after the appointment of administrators Charles King and Hunter Kelly of EY’s restructuring team on 18 February.
Four of the company’s remaining five employees have subsequently been made redundant and all former employees are being offered support in making claims for redundancy and notice pay.
One employee has been retained to assist the administrators for a short period.
R3 Products made 14 redundancies during February 2015, prior to the appointment of the administrators.
ZWS unveils circular economy business models
Scottish companies at the spearhead of the circular economy are being showcased by Zero Waste Scotland (ZWS).
Scotland’s resource efficiency body is highlighting the example of East Kilbride-based firm Re-tek as part of the launch of its Circular Economy Business Models Programme – a group of companies which are using innovative new practices, with far less reliance on raw materials, successfully.
New Recolight chairman
The WEEE compliance scheme Recolight, has appointed a new chairman, Peter Florack.
Florack, senior director at OSRAM AG, replaces David Wyatt of GE Lighting who retired at the end of 2014, having served as chair for seven years.
Florack has over ten years’ industry experience and experience of WEEE in other EU countries. He has been on the Recolight board for over three years.
In addition, Steven Reed of GE Lighting has rejoined the Recolight board after a seven-year absence.