Dale Vince puts Ecotricity up for sale as he looks to a more political future

He made the announcement on April Fool’s Day, but it soon became obvious it was no joke that Dale Vince, the founder of the world’s first green energy company, Ecotricity, is putting the company up for sale and moving into politics.

The reasons for his departure are two-fold. First, Ecotricity requires massive investment: an estimated £2 billion to build a green energy pipeline – the company has 2,500 megawatts of renewable energy generation in planning.

Second, Dale wants to go into politics in some form – maybe by standing for parliament. Those ambitions are no secret: he laid them bare in his book Manifesto, published in 2020.

The company supplies around 200,000 homes and businesses across Britain with renewable energy from the wind and sun. Turnover is around £300 million a year.

KPMG has been tasked with finding a buyer – which might not necessarily be one of the Big Six energy companies. Dale told BBC Gloucestershire that a list of 60 to 70 companies had been drawn up by KPMG: pension funds, venture capitalists, car companies and more.

Dale said: “This is a huge decision –it’s been my life for a long time and is arguably my life’s work.

“But it’s the right decision at the right time – our pipeline of green energy projects is way beyond what we can fund ourselves, while at the same time, the country’s need for new sources of renewable energy has never been bigger.”

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