Thrive Renewables Buchan Ltd, a subsidiary of Thrive Renewables plc, has successfully repaid its bond, with investments being used to fund two wind turbines at Auchtygills and Clayfords farms in Aberdeenshire.
Playing a vital role in our vision for a cleaner, smarter energy system in the UK, the two turbines have delivered 24,412,500 kWh of renewable electricity since commencing generation in the spring of 2015 – enough electricity to power 92,548 UK homes for a year and saving a total of 10,790 tonnes of carbon dioxide.
“At Thrive, our ambition has always been to help more people meaningfully connect with renewable energy projects, so we would like to thank our bondholders for funding these sites in Aberdeenshire. As a result, we have been able to add new renewable electricity to the grid and avoid over 10,000 tonnes of CO2 emissions. We look forward to continuing to grow our project portfolio – across a range of different technologies – to support the UK in its decarbonisation efforts and reaching the ambitious goals needed for net zero.” Matthew Clayton, Managing Director, Thrive Renewables
The bond, which provided investors with an annual return of 5.5% over a five-year period, reached its initial target raise of £3 million in just under four weeks in 2016 – the second fastest bond offer to close in Ethex’s history at the time. The success of the bond is testament to Thrive Renewables’ approach of investing in solid portfolios, honed over 25 years’ experience. Please note, past performance cannot be relied on as a guide to future performance.
In May, we published our Annual Report which highlighted the continued success of our wind and hydro projects, which have collectively generated nearly 150,000,000 kWh of renewable electricity – enough to power 40% of the UK’s electric vehicle journeys. As a result, this clean energy generation has removed the emission of 66,689 tonnes of carbon dioxide.
Last year the company deployed profits from the sale of two wind farms in 2019 into a range of new clean energy projects reflecting the future needs of the UK energy system, including new solar, battery storage and geothermal technologies.