Seasoned investors, and those recently joined via our bond offers, received a step by step account of Thrive’s 2016 performance including an engaging question and answer session. After lunch, Thrive’s MD, Matthew Clayton covered the company’s outlook and how investors had made a direct impact, finished off with an inspiring talk from Felicity Jones of Everoze about the evolving electricity system and the growth of ‘storage’ as a means of delivering the flexibility required for an increasingly renewables powered system.
2016 at a Glance
It was a mixed year with particularly low average wind speeds, the autumn being the least windy for 15 years and major flooding creating challenges for the electricity networks. This resulted in profits being down for 2016, to some extent being balanced by improving power prices and two very successful, award-winning, bond offers raising over £13 million fuelling growth. The funds went straight into more onshore wind projects, and for the first time a ground mounted solar farm. Over the last 18 months the project portfolio has grown by over 16% to 19 UK sites in total, the majority being onshore wind with hydro and now solar.
The shareholders agreed an annual dividend at 4 pence, as per the previous two years, demonstrating the underlying health of Thrive Renewables.
The Thrive team were on hand to discuss a number of topics including the share price and latest investments as well as answer any questions. It was wonderful again to see our committed shareholders and bondholders to talk about the future of renewables.
Peter Jackson, a long-term shareholder in Thrive said:
“As an investor, my motivation is that I want to make my money work to generate kilowatt hours and investing in renewable energy companies seems to be the most efficient way of doing this and that’s why I invest.
I think investing in renewables is a really important thing to do if you’re trying to make a personal difference to the way the world works.”
Margaret and Neil Hayday also long-term investors said of Thrive:
“We come from Essex and from the very beginning we’ve been supporting Triodos and then on to Thrive because it’s something that we believe in. It’s the fact that we can actually participate in something and be connected with and follow it along with time and appreciate what’s going on.” Said Margaret Hayday.
Continuing, Neil Hayday said:
“It’s the future that we’re concerned about, fossil fuel and nuclear is not the answer. I’ve always wanted to help save the planet and that’s a good thing.”
Thank you to everyone who attended the AGM. If you were unable to be there on the day and have any questions about your investment, please contact us on email@example.com or 0117 428 1850.
Thrive shares are available to buy and sell via our monthly auctions through the Match Bargain Service.