GWYNT Y MOR OFTO HOLDINGS LIMITED

• ⚠

  Material uncertainty over going concern

  However, until the issue is mitigated, there is a material uncertainty as to whether the subordinated debt will be fully repaid when it becomes due. This may cast significant doubt on the Group and Company's ability to continue as a going concern in the later years of the project and the Group and Company may be unable to realise their assets and discharge their liabilities in the normal course of business.

• ◆

  3 officer resignations in last 12 months

  Multiple officers have left the board recently — see the People section for who.

• ◆

  1 PSC ceased in last 24 months

  Significant control changed hands — see the Ownership section.

1. GWYNT Y MOR OFTO HOLDINGS LIMITED 2014-02-25 → present
2. ALNERY NO. 3128 LIMITED 2013-11-29 → 2014-02-25

Accounting basis

IFRS

Reporting scope

Consolidated group

Auditor

KPMG LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“However, until the issue is mitigated, there is a material uncertainty as to whether the subordinated debt will be fully repaid when it becomes due. This may cast significant doubt on the Group and Company's ability to continue as a going concern in the later years of the project and the Group and Company may be unable to realise their assets and discharge their liabilities in the normal course of business.”

Group structure

1. GWYNT Y MOR OFTO HOLDINGS LIMITED · parent
   1. Gwynt y Môr OFTO plc 1% · UK · Concession Company
   2. Gwynt y Môr OFTO Intermediate Limited 1% · UK · Financing Company

Significant events

• “On 14 December 2023, the SSEC3 cable tripped due to a cable fault. Availability was reduced to 50% for 6 hours, and was then 75% until the cable was re-energised on 30 August 2024 following a repair. An export cap was applied to SSEC3 following the re-energisation, and this will be the case until a more extensive repair can be conducted (planned for summer 2025).”
• “There was an outage (9-17 December 2024) to replace bushings on SGT1. The Company will submit an EE Claim for this outage.”
• “On 20 September 2024, there was a minor outage of SGT1 during an oil top-up. No EE Claim was submitted.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

8

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

3

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.