The Tory council's leader is 'confident' it can reduce its debts relating to solar farm investments.
A renewable energy company that owes £655m to a debt-ridden council has entered administration.
Tory-run Thurrock Council, in Essex, helped Toucan Energy Holdings 1 finance 53 of the company's solar farms in the UK - as first reported by theThe council's leader called it a "significant step to reducing our overall debt" which had reached £1.5bn. The local authority's loans to TEH1 have been detailed in a financial statement for Perpetual Power Holdings Ltd, lodged with Companies House, covering the year to 31 December 2020.Conservative Thurrock Council leader Mark Coxshall said the appointment of administrators was a "positive move forward".earlier this year, taking over all major decisions, because of the "serious financial situation".The council ran up debts of £1.
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