Our first AGM as Thrive Renewables

  • Posted: 15 Jul 2016

The day began with official business, opening with Thrive’s annual results for 2015, which has delivered continued growth and impact, before shareholders voted on the resolutions – see our Annual Results. Investors were introduced to the Board members including Katie Gordon, Director of Responsible Investment and Stewardship at CCLA, one of the UK’s largest charity fund managers; Tania Songini, Non-executive Board Director of Thrive Renewables and Bond (the association of British NGOs working in international development), and Business consultant, as well as Chairman, Simon Roberts OBE and Chief Executive of the Centre for Sustainable Energy (CSE). Throughout the meeting, the team welcomed a number of questions from shareholders prior to the resolutions being passed.

Thrive Renewables’ Managing Director, Matthew Clayton, talked through the company’s performance during 2015, concluding that it has been a resounding year for the business with revenue up 22% to £15m achieving a pre-tax profit of £2.3m. Thrive also delivered an increased impact with generation equivalent to 72,876 tonnes of CO2 saved - up 26% on last year. The 2015 generation is equivalent to satisfying the electricity demand of 41,187 UK homes, up from 32,080 in 2014.

Discussions were also held about the impact of the market around subsidy cuts and Brexit, with an emphasis on Thrive Renewables’ adaptability which is borne through its successful 20-year history. Matthew confirmed Thrive Renewables would continue to develop its solid portfolio of sites and look to additional renewable solutions around solar, demand management and storage going forward.

After AGM business had concluded, shareholders visited the Boardinghouse wind farm site, to take a closer look at the technology they have contributed to funding. Shareholder, Maria Candida said: "I’ve been to visit other turbines, but this one I partly own, and that makes it special. I’m also very pleased to be part of this movement to change from fossil fuels to renewables." The group were delighted to see the wind power in action and took the opportunity to view inside a turbine. 

The annual AGM provides an opportunity for shareholders to meet the Board, discover more about what we do and to really get a feel for the impact that their investment in Thrive Renewables achieves.

This year’s AGM did not disappoint, and the Thrive team look forward to seeing shareholders again next year at another one of the locations. Sign up today to receive updates on upcoming events, notice of our next share/bond offers and news on our projects.

If you would like a copy of the presentation or questions asked on the day please contact us at info@thriverenewables.co.uk or call us on 0117 428 1850.

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Tania Songini talks about her background and experience
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Matthew Clayton delivering Thrive's 2015 results
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A sneak preview inside one of the turbines