Thrive is investing in the future of the UK energy system, and our pipeline of clean energy projects reflects this, with new solar, battery storage and geothermal all set to help the UK decarbonise and reach its ambitious goals.
Olympus commercial solar rooftops
In November 2020 we announced we had joined forces with Olympus Power to enable businesses to install solar panels and use the renewable power they generate. Thrive’s innovative financing framework provides the funding for Olympus Power to install hundreds of commercial solar arrays. Olympus is in the process of installing its first array funded by Thrive in the North East of England, to add to the 40 or so they already operate around the country. Olympus are developing numerous solar rooftop and groundmount projects with several other industrial, sporting and leisure businesses.
Wicken battery storage
The project is now under construction and due to be connected to the grid in early autumn. There are several revenue streams available to grid connected batteries. We qualified the project for the 15 year capacity market, providing us some level of certainty on future revenues, and continue to participate in other auctions where appropriate.
Feeder Road battery storage
This 20MW battery project in Bristol is now in final stages of procurement. The sustainability of the batteries is an integral part of our procurement process and we are currently undertaking rigorous Due Diligence. Construction will commence over the next few months and the battery will be operational in 2022.
United Downs geothermal
Final testing at the UK’s first geothermal electricity generating plant is due to complete in July. A water temperature of 175C has already been confirmed and we are in the final stages of the design for the power plant. Once the flow rate tests are completed, we will be closing the design and procurement stage. Financial close is expected in September 2021 with a year of construction planned after that.
Riding Sunbeams continues to work with a community energy group and Network Rail in the South East to connect the first multi megawatt solar farm directly to the railway traction network, to power the railway network with renewable electricity. RSA is now in the later stages of the procurement of the solar farm and associated electrical infrastructure.
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