Irish renewable energy developer Solar 21 has said it will “vigorously” defend itself against a petition that a group of investors presented to the High Court earlier this week to wind up two of its subsidiaries.
The two entities – EFW 21 Renewable Energy (Project 2) Ireland Ltd and EFW 21 Renewable Energy (Project 2) Ltd – raised money from Irish investors through unregulated loan notes to fund the construction of an energy-to-waste plant in the UK.
The companies later selected lands at Seal Sands on the River Tees in Yorkshire as the site for what became known as the Teeside Project or Project 2.
Earlier this week, three Irish investors in the project submitted a petition to the High Court to have the two development companies…