Trade group Energy North which has several members in the isles has announced it is to go into liquidation.
The not for profit organisation existed to promote the interests of members in the oil and gas and renewable energy sectors across the north of Scotland and the islands.
Originally formed as the North of Scotland Industries Group it had more than 200 members at its peak.
Energy North said the board decided to enter liquidation on 7th August as a result of declining income, a fall in membership and “significant uncertainties affecting the sector which are expected to impact further upon future sources of funding”.
It held events in Shetland and gave local businesses the opportunity to meet larger energy companies and lobbied the Scottish and UK government. Members of the group paid varying annual fees from £120 to £1,820.
Gremista-based Ocean Kinetics was one of its members. Managing director John Henderson, said it was a useful group and was surprised by their financial problems. “It was a bit of a shame because they [Energy North} did trade missions”, he said.
Energy North chairman Sidney Johnston said: “We very much regret that it is not possible in the current climate for the organisation to continue its valuable work on behalf of our members across the energy sector. We will now work with the liquidators during this difficult period.
“We remain confident that the energy sector in the north will recover strongly from the current challenges, as it has done in the past, drawing upon the outstanding people, facilities and resources that our region has to offer.”