Results for Year End 2015

  • Posted: 14 Jun 2016

It’s been a record-breaking year of renewable generation 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 (resulting in the recommendation of a 4p dividend). We have also delivered increased impact with generation equivalent to 72,876 tonnes of CO2 saved (up 26% on last year).

With the addition of three new wind projects, combined with good wind resources in 2015, this allowed Thrive Renewables’ to generate a total of 169,485MWh of renewable energy,  26% more than the 134,480MWh generated in 2014.

The 2015 generation is equivalent to satisfying the electricity demand of 41,187  UK homes (32,080: 2014).

2015 highlights

  • 169, 485MWh - the amount of green energy we generated
  • 41,187 -  number of equivalent UK homes powered from our wind farms
  • 3 - new projects built (two in Aberdeenshire (100% ownership) and Boardinghouse (75% ownership)
  • £14,000 – donations for energy improvements in community buildings and community funding at Wern Ddu site supporting local initiatives
  • 12.83 tonnes CO2 – saved per year by an average shareholder (based on 3,800 shares)
  • 15% - growth in our shareholder base
  • 7 - homes powered with renewable electricity by every shareholder

Matthew Clayton, Managing Director at Thrive Renewables said:

“In 2015 renewable energy generators delivered more of the UK’s electricity than either coal or nuclear. We are excited to be providing a means for our shareholders to be part of the movement that is leading on sustainable energy.  Our shareholders directly own renewable projects and contribute to the evolution of the energy system. With another wind farm in construction, further projects in the pipeline for 2016 and the success of our 5.5% secured Bond Offer, we’re pleased to be delivering for our shareholders going forward.”

Operational highlights

  • The company’s operational generating capacity grew by 17%, from 54.8MW in 2014 to 64.1MW in 2015.
  • The energisation of Boardinghouse, Auchtygills and Clayfords added 11.85MW (9.3MW when adjusted for Thrive’s ownership) to the portfolio.
  • Additionally, in November 2015 the Thrive Renewables provided a £2.7m mezzanine debt facility to Renewable Energy Ventures (Gevens) Limited. The £2.7m facility bridges a funding gap, allowing the developer to continue to own and realise the three turbine 6.9MW wind project located in Fife, Scotland. The project’s construction is on schedule and due to commence operations in autumn 2016.

For more information download the Annual Report here. Copies of the report are available by post, please contact us below to obtain a copy. 

If you have any questions about the annual results please call 0117 428 1850 or email info@thriverenewables.co.uk

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