A Scottish firm has emerged as one of the country’s most successful start-ups after it was paid a nine-figure sum by the Chinese government for solar projects in Inner Mongolia.
Edinburgh-based Sinnalba Group posted a “stellar” turnover of £110m between its launch in August 2016 and December 2017. A pre-tax profit of £20.8m was declared.
The firm was paid to deliver two 250 megawatt solar projects with an unnamed “state-owned enterprise” in Inner Mongolia, a province of China.
Sinnalba’s success has only recently come to light but has raised eyebrows in Edinburgh’s business community amid questions over why China appeared to have subcontracted a multimillion-pound venture to a fledgling firm in Edinburgh.
The disclosure that the company’s biggest shareholder, Frances Dorothy Stott, was named in…