Our portfolio of renewable energy projects generated 136,316MWh of clean electricity in 2023, a 2% increase on 2022 [1]. That’s enough to power all the homes in a town the size of Preston [2]. In total our wind, solar and hydro projects delivered emissions reductions equivalent to 58,620 tCO2e, a 1% increase in impact on 2022 [3].
Despite overall wind speeds in the UK being slightly lower last year than the long-term average, we managed to generate more power than in 2022.
“It’s incredibly motivating to see Thrive’s clean energy projects power more than 40,000 homes last year whilst significantly reducing carbon emissions . The figures are an important reminder of the positive impact of renewables at a time when the government and some corporations are dialling down net zero targets. Whilst some have reduced focus on sustainability, Thrive remains fully committed to building new wind and solar to help the UK reach its legally binding net zero targets, and ultimately contributing to a better future.” - Matthew Clayton, Managing Director, Thrive Renewables.
As part of our long-term growth strategy we aim to double our renewable generation capacity over the next five years. Last year we made our largest single investment to date and continued to support community-owned projects, including committing £4 million to Scotland’s first subsidy free, 100% community-owned onshore wind turbine.
We also extended the life of our 22 year old Sigurd wind turbine on Orkney after the original blades reached end of life having generated 88GWh of clean electricity in one of the windiest spots in the UK. Refurbished blades have been fitted so that Sigurd can continue generating clean electricity while the old blades are being repurposed into useful items like bike shelters and EV charging stations.
[1] Impact Portfolio describing Thrive’s share of projects owned plus the projects Thrive is funding.
[2] Average residents per household 2.4 (https://www.ons.gov.uk/peoplepopulationandcommunity/birthsdeathsandmarriages/families/bulletins/familiesandhouseholds/2020), Population of Preston is 99,198 (https://www.thegeographist.com/uk-cities-population-1000/).
[3] RenewableUK uses DESNZ’s “all non-renewable fuels” emissions statistic of 424 tonnes of carbon dioxide per GWh of electricity supplied in the Digest of UK Energy Statistics (July 2023) Table 5.14 (“Estimated carbon dioxide emissions from electricity supplied”). Carbon reduction is calculated by multiplying the total amount of renewable electricity generated by Thrive’s impact portfolio per year by the number of tonnes of carbon which fossil fuels would have produced to generate the same amount of electricity.
