Two of our onshore wind farms with a total generation capacity of 13MW have been successfully sold, taking advantage of current high market valuations for operational projects. The multi-million deal will enable us to build new renewable energy capacity in the UK. The wind farms will continue to produce clean, green electricity under new ownership.
The UK’s clean energy industry reached new highs in 2018. Renewables broke new records, delivering a third of all electricity generation, while power generated from fossil fuels was lower than ever before. The 21 renewable electricity projects which Thrive Renewables has invested in across the UK also enjoyed a hugely successful year, generating over 240 GWh of renewable electricity, sufficient to satisfy the electricity demand of 64,000 UK homes.
As the energy sector evolves to include a growing volume of renewable electricity, the dynamic between demand and supply is changing. Historically, electricity suppliers have been slaves to demand. However, as the generation mix progresses towards lower carbon intensity, a more balanced relationship with increased flexibility is required.
The UN’s Intergovernmental Panel on Climate Change (IPCC) report warns that we have just 12 years to turn the climate change ‘supertanker’ around. Crucially, it places responsibility for action, not just with Governments and international companies, but with us, individuals. Whilst this is a terrifying call to action, it validates Thrive’s mission, and further motivates us to continue to provide people with a way to come together and deliver positive impact.
As part of a series of events during Green Great Britain Week our MD, Matthew Clayton, reflected on projects in Bristol that we are part of which demonstrate the growth potential of renewables and highlight what is around the corner for pioneering businesses who choose to get involved.