We are delighted to announce that Thrive has won the Renewable Energy Association’s Financial Leadership Award for the second time. The prize was awarded for our innovative Community Energy Funding Bridge financial model. We are proud to be recognised for our unique contribution to community energy ownership, uniting communities through a common movement to invest in and own clean energy. This award reflects our work towards achieving our vision of a clean, smart energy system that is powered by the investment of many.
The Community Energy Funding Bridge was set up in 2016 in response to a growing desire for community owned renewables. By providing temporary funding to purchase local renewable energy projects, we empower communities by giving them the time and breathing space to raise their own funds. Once the funding has been paid back, the community owns the project for the long run. For more information on how the model works, see the Community Bridge page.
Mean Moor is a huge success story for the Community Energy Funding Bridge and the first wind farm in the country to be transferred from corporate to community ownership. Thrive provided £7.4million in funding to facilitate the acquisition of Mean Moor by three local energy cooperatives. This gave them the time and support they needed to successfully raise £4million in a matter of weeks, uniting over 700 investors, partially replacing the Community Energy Funding Bridge. The wind farm is now 100% community owned.
Onshore renewable energy projects will play a key role in achieving the Climate Change Committee’s target for net-zero emissions by 2050. Diversifying the ownership of renewable projects, such as Mean Moor, enables people to take action on climate change by owning their local clean energy at source.
