Sark Electricity has disclosed to Channel Eye that broad heads of terms have been agreed for the sale of Sark Electricity Limited and Sark Electricity Holdings Limited.
Mr Alan Witney-Price as owner said: “While negotiations have been challenging, this transaction would, fully and finally, bring to a close a 10 year chapter of significant difficulty in Sark’s history.
“My personal commitment and passion for Sark is steadfast and I remain committed to delivering the Sark Energy Transformation Plan that was issued by Sark Electricity Limited (SEL) back in 2020. However, I must sadly accept that the will of a powerful few in Sark precludes my ongoing involvement in the provision of energy in Sark.
“My understanding of the plans of this potential new owner is that the operations of the new provider will have a singular community driven focus. The potential buyers bring significant expertise and a track history from across the globe. We trust that Sark residents will see the benefits in pursuing this vision for the local community.”
While SEL is clearly not involved in discussions between the bidder and the community on Sark, Mr Witney-Price remarked: “My understanding is that initial ‘low key’ conversations between the bidder and a few individuals from Sark’s Government over this weekend, while tentative, suggested a genuine willingness to honestly consider the proposal and its potential benefits for the island.”
Mr Witney-Price went on to say: “I hope that Government and residents will support this community focussed endeavour as the bidders progress with the due diligence required to complete this transaction.
“To see the energy needs of Sark swiftly progress in a positive manner is to the benefit of all and I welcome any move that places the stability and security of Sark’s energy needs front and centre.
“I genuinely wish the bidders every success with their ambitions on behalf of Sark and its residents.”
