{"id":427507,"date":"2026-02-23T09:22:49","date_gmt":"2026-02-23T08:22:49","guid":{"rendered":"https:\/\/climatescience.press\/?p=427507"},"modified":"2026-02-23T09:22:51","modified_gmt":"2026-02-23T08:22:51","slug":"green-dream-turns-nightmare-solar-firm-hive-risks-taxpayer-millions-in-collapse","status":"publish","type":"post","link":"https:\/\/climatescience.press\/?p=427507","title":{"rendered":"Green Dream Turns Nightmare: Solar Firm Hive Risks Taxpayer Millions in Collapse"},"content":{"rendered":"
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Hive Energy, which develops renewable projects worldwide (including over 200 globally), recently secured a \u00a360 million loan backed by the UK government through UK Export Finance (UKEF) and provided via HSBC. This was intended to support its expansion into international markets like Europe, North America, South America, Africa, and the Caribbean.<\/p>\n\n\n\n

However, just months later (in early 2026), the company issued a notice of intention to appoint administrators, signaling severe financial distress. This is linked to creditor pressures, particularly involving its subsidiary Ethical Power. If administration proceeds and the loan isn’t repaid, UK taxpayers could be liable for a significant portion\u2014or potentially all\u2014of the \u00a360 million, as the government’s guarantee would kick in.<\/p>\n\n\n\n

The situation has sparked criticism about the due diligence process by UKEF, especially since Hive reportedly posted a \u00a329 million operating loss in 2024.<\/p>\n\n\n\n

This fits a broader pattern of scrutiny over taxpayer-funded support for renewable firms that later struggle, though Hive’s case is specific to this recent UK development.<\/p>\n\n\n\n

_________________________________________________________________________________________________________<\/p>\n\n\n\n

Taxpayer on the hook for millions as solar company faces administration<\/strong><\/p>\n\n\n\n

Hive Energy won \u00a360m state-backed loan last year to launch itself as a global operation<\/strong><\/p>\n\n\n\n

Taxpayers are facing a potential multimillion-pound blow as a leading British solar energy developer risks the threat of administration. The Telegraph<\/a> has the story.<\/em><\/strong><\/p>\n\n\n\n

Hive Energy<\/a> is preparing to appoint administrators just months after securing a \u00a360m taxpayer-backed loan from HSBC to launch itself as a global operation.<\/p>\n\n\n\n

The loan was announced by the UK Government last November at the UN\u2019s COP30 climate conference to show how the UK was supporting the global expansion of solar. The loan guarantee was personally endorsed by Tim Reid, the chief executive of UK Export Finance Agency (UKEF), who said he was \u201cproud\u201d to support Hive.<\/p>\n\n\n\n

It is the second such loan offered to Hive Energy, following a similar guarantee for a \u00a319m loan from Santander taken out in 2024.<\/p>\n\n\n\n

This week Hive issued a \u201cnotice of intention to appoint administrators\u201d with law firm DLA Piper as its legal advisors. The move suggests the company \u2013 which has 200 renewables projects in its global pipeline, 15 of which are in the UK \u2013 is at risk of collapse.<\/p>\n\n\n\n

It also raises the threat that taxpayers could be on the hook for loan repayments, and questions about the quality of UKEF\u2019s vetting of Hive before approving the latest loan.<\/p>\n\n\n\n

When asked by The Telegraph if taxpayer money was at risk, the UKEF and Mr Reid declined to comment.<\/p>\n\n\n\n

HSBC and Santander banks also both declined to comment.<\/p>\n\n\n\n

Hive Energy, which was founded by city entrepreneur and ocean racing yachtsman Giles Redpath, confirmed that it was suffering problems with creditors linked to its subsidiary Ethical Power, which constructs and operates solar and other renewables sites<\/a> across the UK, Spain, Italy, Greece and New Zealand.<\/p>\n\n\n\n

A spokesman said: \u201cThis process does not mean that the business has entered administration or that it will enter administration but rather provides time and stability to explore strategic options in an orderly manner.<\/p>\n\n\n\n

Read the full story here<\/a>.<\/em><\/strong><\/p>\n\n\n\n

_________________________________________________________________________________________________________<\/p>\n\n\n\n

This case highlights broader risks in taxpayer-supported green energy initiatives, similar to past scrutiny of projects like the failed Britishvolt battery factory.<\/strong><\/p>\n\n\n\n

No further updates on resolution or taxpayer impact have emerged in the last few days, but the situation remains fluid.<\/strong><\/p>\n\n\n\n

As of the latest reports (around February 22-23, 2026), Hive Energy hasn’t actually entered full administration yet. They filed a “notice of intention to appoint administrators” (a protective step under UK law that typically buys 10 business days or so to restructure or find buyers\/investors). <\/p>\n\n\n\n

The company continues trading normally under its existing board, with a spokesperson emphasizing it’s a “longstanding and fundamentally strong business” exploring strategic options in an orderly way\u2014no shutdown or cessation of operations.<\/p>\n\n\n\n

That said, the \u00a360m UKEF-backed loan remains a big taxpayer exposure point if things go south, especially given the 2024 \u00a329m loss and creditor pressures (tied partly to the recent Ethical Power stake). <\/p>\n\n\n\n

Coverage from outlets like The Telegraph, Express, and blogs hasn’t shown major new developments in the past few days\u2014no confirmation of actual administration or resolution.<\/p>\n\n\n

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<\/p>\n","protected":false},"excerpt":{"rendered":"

Hive Energy, which develops renewable projects worldwide (including over 200 globally), recently secured a \u00a360 million loan backed by the UK government through UK Export Finance (UKEF) and provided via HSBC. This was intended to support its expansion into international markets like Europe, North America, South America, Africa, and the Caribbean.<\/p>\n

However, just months later (in early 2026), the company issued a notice of intention to appoint administrators, signaling severe financial distress.<\/p>\n","protected":false},"author":121246920,"featured_media":427515,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_seo_schema_type":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_wpcom_ai_launchpad_first_post":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[1],"tags":[691841592,691841590,691819094,691818267,691841593,691818248,691841594,691841591],"class_list":["post-427507","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-expansion-of-solar","tag-hive-energy","tag-renewable-green-energy","tag-solar-power","tag-tim-reid","tag-uk","tag-uk-export-finance-agency-ukef","tag-uns-cop30-climate-conference","fallback-thumbnail"],"jetpack_publicize_connections":[],"jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/paxLW1-1Ndh","jetpack-related-posts":[{"id":407945,"url":"https:\/\/climatescience.press\/?p=407945","url_meta":{"origin":427507,"position":0},"title":"Bird-torching Mojave solar facility shutting down","author":"uwe.roland.gross","date":"10\/13\/2025","format":false,"excerpt":"The sun will soon be setting on the Ivanpah Solar Power Facility in California\u2019s Mojave Desert. 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