News
Thrive in top 3% of UK B Corps following recertification
Twenty point increase in impact score.
Posted: 18 Apr 2024
Collaborative capital for community energy groups
We support communities to take ownership of local energy projects. See how Thrive's award-winning funding works.
We know that many community energy groups are interested in owning renewable energy projects. Yet due to demanding timescales or a lack of funding, resources they are not always able to build or purchase projects on their own. Our fast and flexible funding enables communities to get projects built and operational.
We’ve already invested £16 million into community-led wind and solar projects and are always looking to empower more people to take control of their energy supply. Here’s how our multi award-winning community funding offer works.
Community Funding Bridge
If you’re looking to acquire, build or own a clean energy project locally, and require funding to move forward quickly, then we could help bridge the funding gap.
Shared ownership
We can provide you with the capital and expertise to build or develop larger scale projects alongside other community, public or private sector partners.
Co-development
We can offer funding to support you through the initial development process to get new clean energy projects consented, built and operational.
Benefits of working with us
Control over your energy supply
Our funding gives you the opportunity to own your renewable energy at the source, ensuring the economic and social benefits of clean energy stay local too.
Time to raise the money
Developing a renewable energy project takes a lot of time and effort. We can provide some much needed breathing space, helping you to get your project into construction and letting you repay in a way that works best for you.
Flexibility
We offer flexible funding for a range of clean technologies, from battery storage to hydro, solar and wind. We will structure our finance to best respond to your needs, as well as the specifics of the project.
Skills & expertise
We have access to a wide network of contacts, partners, suppliers, and industry bodies that we can call on to support us when developing new projects.
A MILESTONE IN COMMUNITY ENERGY
We were aware of challenges being felt in the community energy sector, especially when it came to accessing finance. Because of this, many community energy groups could not compete with specialist investors and pension funds.
In a bid to enable community ownership, we developed our funding bridge in 2017. The first project we completed using this model was the Mean Moor Wind Farm in Cumbria, facilitated by Energy4All.
When the wind farm was being constructed, the local community energy group were interested in getting involved but did not have access to the necessary capital. We enabled them to purchase the project in partnership with us, giving them time to raise their own funds and pay us back over an agreed period. The loan was fully repaid in 2019, making it the first commercial scale wind farm in the country to transfer from a commercial developer to 100% community ownership – a significant milestone for the sector.
FUNDING ENGLAND’S LARGEST ONSHORE WIND TURBINE
In 2022, we used our community energy funding bridge to help a group of Bristol residents in building England’s largest onshore wind turbine. We provided a £4 million loan to Ambition Community Energy so that it could move this brilliant community initiative into construction after years of planning issues. It was added to loans from Bristol and Bath Regional Capital (BBRC) City Funds and members of the Society of Merchant Venturers, as well as a grant from the West of England Combined Authority Low Carbon Challenge Fund (part of the European Regional Development Fund).
The turbine is capable of generating enough power for close to 3,000 homes – the equivalent to Lawrence Weston’s domestic use – and will save almost 48,345 tonnes* of carbon emissions over its lifetime. Profits from electricity sales will be reinvested back into local good causes, while the group also plan to build an Energy Learning Zone to inspire and upskill residents for zero carbon careers.
The project won the 2022 award for ‘Finance & Innovation’ at the Community Energy Awards, hosted by Community Energy England.
* 2022 Carbon intensity figures https://www.gov.uk/government/ publications/greenhouse-gas-reporting-conversion-factors-2022
Could we help you with your project?
To find out more about our funding for community energy projects in the UK, you can download our free resource below.
