Hive Energy has been sold out of administration to connected party Hive New Energy Limited following a sale of substantially all of the company’s business and assets.

The transaction completed on April 2 2026, shortly after Hive Energy entered administration on March 12.

Total consideration amounted to GBP 14.5m, comprising GBP 9.5m in cash paid in full on completion and GBP 5m of non‑cash consideration through the novation of debt previously owed by Hive Energy to Sustainable Holdings Limited.

Hive New Energy is jointly controlled by Hive Energy CEO Giles Redpath and Greg Skinner-owned Sustainable Holdings. Skinner had previously acquired a stake in Hive susbdiary Ethical Power but this was sold back to the company in March 2025.

The current Hive sale includes shareholdings in 76 special purpose vehicle subsidiaries, together with indirect interests in a further 38 entities, and Hive Energy’s 45% stake in Hive Ethical Project Developments.

Assets transferred also comprised development receivables linked to historic solar projects, intellectual property, contractual rights, customer databases, goodwill, IT systems, equipment and the rights to the Hive Energy name.

All nine UK employees transferred to the purchaser under TUPE as part of the transaction.

Hive Energy was founded in 2009 and operated as a renewable energy project developer, primarily focused on solar projects structured through a large portfolio of SPV entities across multiple jurisdictions.

The company entered administration after becoming unable to meet escalating claims arising from guarantees, bonds and funding exposure provided to Ethical Power, a construction business in which Hive Energy held a 50% equity interest.

At the date of administration, Hive Energy’s combined direct borrowings, guarantees and bond exposure linked to its own operations and Ethical Power Group projects totalled approximately GBP 129.7m, much of which remained contingent.

Hive Energy’s sole secured creditor, HSBC, was owed approximately GBP 20.2m under fixed and floating charge facilities, excluding additional contingent bond exposure.

Unsecured creditor claims totalled around GBP 37.9m, including GBP 28.2m owed to Sustainable Holdings, with the unsecured creditor pool reduced by the GBP 5m debt novation included in the transaction.

The administrators estimate that HSBC will recover between 19p and 49p in the pound, depending on final realisations and the extent to which contingent claims crystallise over a three‑ to 36‑month period.

Unsecured creditors are expected to receive a distribution capped at GBP 800,000, equating to a return of up to 2p in the pound, subject to the final level of claims.

Once distributions are completed, the administrators expect Hive Energy to exit administration via dissolution unless a subsequent liquidation is required to conclude remaining matters.

Hive Energy is advised by PwC (administration and accelerated M&A), DLA Piper (legal), and Pre Pack Pool (independent evaluator for the connected‑party transaction).

Hive was approached for comment.