Following the EU referendum we are entering a period of instability in the UK; we at Thrive Renewables remain committed to providing individuals with a rewarding connection to renewable energy. With a strong 20 year history behind us and having built a trusted and established portfolio of projects driven by sustainability, the fundamentals remain, and are now more important than ever.
The outlook for Thrive Renewables remains positive. Our rationale for this:
- As one of the leading proponents of the UNFCCC (United Nations Framework Convention on Climate Change), the UK has set national greenhouse gas emission reduction targets in law.
- The weak pound will increase the cost of imported energy prices making renewables more competitive and home grown energy all the more valuable. This moves us closer to a level playing field for renewables making the security of supply a stronger case for the future.
- The majority of our debt has fixed interest rates, thereby mitigating exposure to any increased volatility in interest rates.
2015 was a record-breaking year of renewable generation for Thrive Renewables with strong growth in our community of shareholders (up 16% in the year to 5,700). Revenue is up 22% to £15m achieving pre-tax profit of £2.3m. In addition, we have just completed our very successful 5.5% bond offer which completed in just under four weeks, connecting more people with renewable energy and releasing capital for growth.
Whilst there is uncertainty in the market, Thrive Renewables shall continue to generate sustainable electricity 365 days a year, rain and shine.