Rob Horgan
‘VULTURE’ funds are scavenging for rich pickings among small solar panel plants on the brink of closing down.
New government regulations are forcing small-sized plant owners to sell up as they can no longer make a profit from the energy they produce.
Controversial new regulations tax solar panel energy producers 27% of their income.
Taking advantage of the change in policy, energy experts are warning of the ‘vulture’ funds buying up the market at a cut price.
“We have been harassed by unscrupulous companies looking to benefit from the electricity reform,” says Juan Castro-Gil from the national solar panel association.
“The ‘vulture’ funds persecute us. Many small and medium investments can not repay the loans, and are opting to sell their installation in exchange for losing sight of the debt to the bank.”
