By Paul Homewood
Holders of “mini-bonds” issued by Future Renewables Eco, a wind farm investment company, are braced to lose more than half their investments after it collapsed into administration on Sept 17.
It owned 10 wind turbines across Britain and was funded by 750 bondholders who ploughed £24m into the company between 2015 and 2017.
They were due to vote on Sept 18 on whether the company should be wound up or placed in administration, but the company’s bosses said early voting suggested an administration was inevitable. The company stopped paying interest in May of this year.
One investor invested more than £150,000 of his inheritance in the bonds, which paid up to 9.5pc per year.
He said: “I was a fool. I searched for an ethical investment. I have grandchildren and I wanted it to build up the capital and support the wind industry.”
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