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Progress with new projects 
In the first half of the year, United Downs geothermal power plant – which Thrive is invested in &#8211; delivered the UK’s first ever geothermal electricity. Meanwhile, construction of our biggest project yet – a 57MW onshore wind farm in Scotland – is nearly complete. The project, which is due to start generating later this year, will power the equivalent of around 45,000 average UK homes a year. We can’t wait to see the blades start spinning soon!
<img loading="lazy" decoding="async" class="wp-image-10267 size-medium" src="/wp-content/uploads/2026/09/Watt-Media-Ltd-211-300x200.jpg" alt="Three people stand in hi-vis jackets looking at construction site at Whitelaw Brae in Scotland." width="300" height="200" srcset="https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2026/09/Watt-Media-Ltd-211-300x200.jpg 300w, https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2026/09/Watt-Media-Ltd-211-1024x681.jpg 1024w, https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2026/09/Watt-Media-Ltd-211-768x511.jpg 768w, https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2026/09/Watt-Media-Ltd-211-1536x1022.jpg 1536w, https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2026/09/Watt-Media-Ltd-211-2048x1363.jpg 2048w" sizes="auto, (max-width: 300px) 100vw, 300px" />
Development of our 12.6MW wind farm in South Wales is also progressing well, with construction expected to commence next year. Elsewhere, in Orkney, new milestones have been reached in our plans to repower Burgar Hill. A planning application has been submitted to replace five existing turbines with newer, larger and more productive models and we have acquired two of the existing turbines from the previous owner, RWE.
Enhancing nature
As well as generating clean electricity, it’s important that our renewable energy projects are having a positive impact on nature. Dunmow solar farm in Essex, which we co-own alongside TopCashback Group Ltd, has become one of the first sites in the UK to become Wild Power certified. A bit like a fair-trade stamp for your coffee, Wild Power certification is a biodiversity stamp for solar farms, recognising our commitment to conserving and enhancing nature on site. Since acquiring the 10MW solar farm in 2025, we’ve introduced a range of biodiversity measures to ensure the project provides a haven for local wildlife to thrive as well as generating clean electricity.

In May our operations team spent a productive couple of days on site at Dunmow preparing soil berms (raised areas of soil) for the creation of a new wildflower-rich grassland habitat that will benefit a range of wildlife – from birds and butterflies to badgers and hares.
<img loading="lazy" decoding="async" class="alignnone size-full wp-image-10269" src="/wp-content/uploads/2026/09/Untitled-design-2026-09-16T093302.168.png" alt="" width="2048" height="1536" srcset="https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2026/09/Untitled-design-2026-09-16T093302.168.png 2048w, https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2026/09/Untitled-design-2026-09-16T093302.168-300x225.png 300w, https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2026/09/Untitled-design-2026-09-16T093302.168-1024x768.png 1024w, https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2026/09/Untitled-design-2026-09-16T093302.168-768x576.png 768w, https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2026/09/Untitled-design-2026-09-16T093302.168-1536x1152.png 1536w" sizes="auto, (max-width: 2048px) 100vw, 2048px" />
Collaborative funding
All capital from the Fair Play Clean Energy partnership with TopCashback Group Ltd has either been deployed or is ready to be invested, funding 79.6MW of new renewable capacity. Meanwhile, the first project to be funded by Community Energy Catalyst, our £40 million joint venture with social impact investor, Better Society Capital, is now operational. The Attix CIC community turbine in Kilbirnie will help bring vital funds back into the local community.
Thrive has also secured new project finance, injecting a total £64 million to fund our growing portfolio. This includes debt funding from Investment Manager Triple Point to support the construction of Whitelaw Brae, and a £4.1 million loan from Triodos Bank UK for Dunmow solar farm, helping refinance shareholder capital already invested in the project and enabling it to be redeployed into future renewable energy developments.
£5 million was invested by individuals in our 2026 bond offer, plus a further £2 million from institutional and high net worth impact investors to fund new clean energy projects. In total, we’ve now raised over £70 million for new renewable energy projects, the majority via crowdfunding.
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[1 ]Refers to Thrive’s impact portfolio – total electricity generation of the portfolio adjusted for Thrive’s proportion of ownership, plus the projects Thrive is funding.
[2] Calculated using the most recent statistics from the Department for Energy Security and Net Zero (DESNZ) showing that UK average domestic household consumption is 3,323kWh per annum (1,662kWh for a half year).
[3] Average residents per household 2.36 (<a href="https://www.ons.gov.uk/peoplepopulationandcommunity/birthsdeathsandmarriages/families/bulletins/familiesandhouseholds/2025/">https://www.ons.gov.uk/peoplepopulationandcommunity/birthsdeathsandmarriages/families/bulletins/familiesandhouseholds/2025/</a> ) Population of Barnsley is 98,924 (<a href="https://www.ons.gov.uk/peoplepopulationandcommunity/populationandmigration/populationestimates/datasets/understandingtownsinenglandandwalespopulationanddemography/">https://www.ons.gov.uk/peoplepopulationandcommunity/populationandmigration/populationestimates/datasets/understandingtownsinenglandandwalespopulationanddemography/</a>)
[4] Carbon reduction is calculated by multiplying the total amount of renewable electricity generated by Thrive’s impact portfolio in the first half of 2026 by the number of tonnes of carbon which fossil fuels would have produced to generate the same amount of electricity. We have used DESNZ’s “all non-renewable fuels” emissions statistic of 422 tonnes of carbon dioxide per GWh of electricity supplied from the Digest of UK Energy Statistics (July 2026) Table 5.14 (“Estimated carbon dioxide emissions from electricity supplied”). Additionally, we include a conservative estimate of the carbon saved through operating our BESS projects.

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We’re busy delivering our pipeline of projects - from the UK’s first geothermal electricity to constructing our biggest wind farm yet. 

Half year results 2026 – locking in impact for the next 30 years

Featured

Thrive’s Community Benefit Programme has been running since 2016, helping community centres near our sites to make energy efficiency improvements that reduce bills and carbon emissions. During that time, we’ve awarded over £258,000 in grants to community centres across the UK, saving an estimated 99 tonnes of carbon dioxide emissions each year.  
Building on the success of our existing programme, we’re now inviting communities to apply for grants that support a wider range of community initiatives, enabling local people to propose climate, nature or energy related projects that they feel are most needed in their neighbourhood. This could be initiatives that enable local people to take climate action, reduce emissions or save energy, or measures that improve access to green spaces and help people connect with nature in their area.  
The programme is open to community initiatives located within a 15 mile radius of one of our rurally based clean energy projects, or within a 5 mile radius of one of our urban clean energy projects. Groups can apply for grants of up to £4,500. Full details on eligibility and how to apply can be found on CSE’s website <a href="https://www.cse.org.uk/my-community/community-projects/thrive-renewables-community-benefit-programme/" target="_blank" rel="noopener">here</a>. Applications close on 26th November.

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This year we’ll be supporting a wider range of initiatives that communities feel are most needed to support climate action in their local neighbourhood.

Community Benefit Programme now open – tell us how you want climate action to look in your area

The 10MW project generates enough clean electricity to power over 4,000 average UK homes a year, avoiding the emission of more than 6,000 tonnes of carbon dioxide. It is also one of the first sites in the UK to achieve Wild Power certification – verifying the measures we’ve introduced to make the solar farm a haven for local wildlife.
During the site visit, shareholders had an opportunity to view the neighbouring skylark area, where Thrive has introduced measures to create a more open botanically rich grassland that is better suited to breeding skylarks. Other biodiversity measures we have introduced on site include planting new species rich grassland and hedgerows, plus installing bird and bat boxes.
In addition to the site visit, Thrive’s management team provided an update on progress from the first half of the year during a presentation and Q&amp;A session at the local village hall.

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Thrive shareholders headed to Essex to visit their 10MW solar farm and meet with members of the team.

Sunny shareholder visit to Dunmow solar farm – here are the highlights!

Delivering on our mission – putting money to work building new clean energy projects and empowering people to take action to address the climate emergency – means that our positive contribution to avoiding UK carbon emissions far outweighs our own carbon footprint. However it is important to report on and reduce carbon emissions that are made in construction and operations.  
<a href="https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2026/09/Thrive-Climate-Report-2025-FINAL.pdf" target="_blank" rel="noopener">Thrive’s latest climate report</a> shows another year of good progress on our path to reaching net zero emissions by 2030. Let’s dive into some of the highlights…

Emission reductions are the emissions ‘avoided’ from the operation of our portfolio of clean energy projects (also referred to as scope 4). 2022 and 2024 were both very successful years for project construction and in both years our reported emissions include the construction footprint of three new projects. 
We are pleased to have achieved full scope 3 reporting for a fourth year, with the carbon intensity of our day-to-day services decreasing by around 14% when comparing 2025 to the base year 2022. This is encouraging to see and is supported by the decarbonisation stories we have heard through our supplier engagement – see below.

Our annual contractor engagement continues to encourage positive discussions on how to reduce emissions in our industry. In 2025, one asset manager cut travel emissions 66% by adopting EVs for 81% of their travel to Thrive’s sites, compared with 100% diesel fleet in 2024. Whilst requiring further planning to journeys to ensure the charges are kept in range, they managed to implement a significant step in the decarbonisation journey.

Case study: electric vehicle use by contractors 

It is also positive to see that the emissions intensity of the electricity imported to BESS (Battery Energy Storage System) projects has dropped by 38% from 2022 to 2025, putting us on track for this target area. 
Trains continue to comprise the majority of our business miles travelled in 2025, with the carbon intensity of our average business mile now 40% lower than when we first started reporting on this in 2019.  
Although not directly relevant to Thrive’s own reported emissions, we encourage our employees to reduce their own personal greenhouse gas footprints as well. For example, Thrive offers the ‘Sustainable Travel Leave’ benefit which rewards staff with paid journey days when opting for slower, greener options for their holiday travel. 
We are also currently looking to implement low carbon materials, such as using green steel, on new projects in our pipeline.

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We’re committed to reaching net zero by the end of the decade – here’s a look at the progress we’ve made over the last year.

Another step closer to net zero - highlights from our latest climate report

1. ‘Net zero is killing the economy’
Reform UK has suggested that, if elected, it will scrap net zero and cut all renewable subsidies, claiming in an interview with Bloomberg in May that it is killing the UK economy. This is one of the easiest myths to debunk with <a href="https://www.carbonbrief.org/factcheck-reform-uks-45-false-or-misleading-claims-about-climate-and-energy" target="_blank" rel="noopener">analysis from Carbon Brief</a> showing that, while the UK has reduced its emissions by 54% on 1990 levels, the economy has doubled in size over the same period.
A separate <a href="https://www.cbi.org.uk/articles/net-gains-the-uks-net-zero-economy-in-2025/" target="_blank" rel="noopener">2026 report by the Confederation for British Industry</a> concluded that the net zero economy generated £105 billion in gross value added in 2025, supporting 1.1 million jobs across the country, with considerably higher wages than the UK average. And what would be the cost if we were to roll back on our net zero commitments? The <a href="https://neweconomics.org/2025/05/the-cost-of-reform-uks-anti-environmental-policies" target="_blank" rel="noopener">New Economics Foundation (NEF)</a> warns that anti-renewable policies could wipe £92 billion from GDP and destroy over 60,000 wind and solar jobs.
2. ‘Greater use of gas will save you money’
Bills have risen because our electricity system still relies heavily on gas – and it’s this that sets the price the majority of the time. In fact, according to the <a href="https://ukerc.ac.uk/" target="_blank" rel="noopener">UK Energy Research Centre</a>, high gas prices have caused <a href="https://www.carbonbrief.org/expensive-gas-still-biggest-driver-of-high-uk-electricity-bills-says-ukerc/" target="_blank" rel="noopener">two-thirds</a> of the rise in electricity bills in recent years.
There’s clear evidence to show that systems that have a higher share of renewable energy tend to experience lower wholesale power prices, for example in countries like Spain. The good news is, despite claims to the contrary, we’re starting to see this at home too. In fact, <a href="https://www.carbonbrief.org/analysis-wind-and-solar-have-saved-uk-from-gas-imports-worth-1-7bn-since-iran-war-began" target="_blank" rel="noopener">wind and solar have saved the UK from gas imports worth £1.7 bn in the first few months of the year</a> and while gas set the price of UK electricity around 90% of the time in the early 2020s, it’s only <a href="https://www.gov.uk/government/news/decisive-action-to-break-influence-of-gas-on-electricity-prices" target="_blank" rel="noopener">around 60% today</a>. In May, it was announced that the Government would be looking at ways to break the link between gas and wholesale electricity prices, which we have long called for. So far, it has increased the “electricity generator levy”, a windfall tax on older renewable energy and nuclear plants, using part of the revenue to limit energy bills. It’s also proposing that older renewable projects could sign fixed-price contracts, which it says will “help protect families and businesses from higher bills when gas prices spike”. We broadly welcome this move, subject to further details in the Energy Independence Bill when it is published.
It’s been suggested that the solution to expensive imported gas is to instead construct new gas power plants here in the UK. As well as setting us back on climate targets, the truth is, given the relatively small volumes remaining in the North Sea (enough to meet just 3% of total demand <a href="https://www.theguardian.com/environment/2026/apr/04/new-north-sea-drilling-jackdaw-rosebank-uk-gas-imports" target="_blank" rel="noopener">according to data</a>), the UK will remain reliant on foreign imports – meaning prices will continue to be set globally and are subject to geopolitical volatility. The long-term goal should be accelerating the transition to a clean energy system, where cheaper sources like wind and solar would then set the prices.
3. ‘Nuclear generation will ramp up significantly’ 
Various political parties are championing a substantial increase in nuclear but fail to acknowledge how material the time or costs associated with this technology are. We only need to look at projects like Hinkley Point C to recognise the <a href="https://www.theguardian.com/uk-news/2026/feb/20/hinkley-point-c-delayed-to-2030-as-costs-climb-to-35bn" target="_blank" rel="noopener">significant challenges</a> of delivering projects of this scale. Hinkley is now expected to start generating by 2030, five years later than its original target, and despite an original budget planned at £18 billion, current cost estimates put it at £35 billion. While the Onward report hints that tripling nuclear power capacity could be possible by 2050, RenewableUK suggests its financial modelling reflects an investment shortfall of between £16–20 billion.
While some claim nuclear brings reliability, technologies like solar and wind are cheap to build and can be generating power in as little as a year. Coupled with sufficient energy storage and more dynamic demand as part of a diverse system, renewables can deliver a continuous supply and offer a faster (and significantly cheaper) journey to net zero.
In the face of misinformation, we must ask ourselves who loses out when it comes to slowing down on climate and net zero. Whether its dealing with the consequences of extreme weather events like this summer’s heatwaves, or the reality of rising energy bills, it’s ordinary people that will bear the brunt We need to factor in the vast cost of inaction and be realistic that the status quo is not an option.  Every day we delay increases the cost of both adaptation and mitigation. It’s our job to keep challenging false narratives, while remaining focused on what matters – reducing our reliance on dirty fossil fuels and accelerating the transition to cleaner, cheaper energy.

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We give our thoughts on some of the current claims and why focusing on clean, homegrown renewables is the only long-term answer to energy security and price stability.

Don’t believe the hype – how to debunk the recent misinformation around renewables

Wild Power is a new standard in biodiversity for renewable energy projects. The certification independently verifies the biodiversity measures we have introduced to ensure the solar farm provides a haven for local wildlife to thrive as well as generating clean electricity.
Since acquiring Dunmow solar farm in 2025, we have introduced a range of biodiversity measures that aim to make the site a haven for local wildlife, including:
<ul>
<li>Planting new species rich grassland and wildflower areas in and round the solar farm to support and attract a range of wildlife – from birds and bees to badgers and hares.</li>
<li>Planting new hedgerows of native species to fill gaps between existing hedgerows, improving the site’s habitats for nature to thrive over the long term.</li>
<li>Enhancing habitat conditions in the neighbouring Skylark area by preventing encroachment of scrub, preserving a more open, botanically rich grassland that is better suited to breeding Skylarks.</li>
<li>Installing bird and bat boxes in boundary trees to provide more opportunities for nesting birds and roosting bats on site.</li>
</ul>

Thrive’s biodiversity policy commits us to supporting long-term sustainable development, aligned with the United Nation’s Sustainable Development Goal 15: ‘Life on Land’. We intend to go above and beyond legal requirements with voluntary initiatives tailored on a site-by-site basis and outlined in individual Biodiversity Management Plans. The suite of measures we have introduced at Dunmow will significantly exceed the 10% Biodiversity Net Gain planning baseline in England – increasing habitat net gain by 65% and hedgerow net gain by 19%.
Dunmow is funded by Fair Play Clean Energy Ltd, our joint venture with TopCashback Group Ltd, which brings together a combined £80 million in capital to fund new renewable energy projects across the UK.

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Agrimony in Skylark area at Dunmow - CREDIT WYCHWOOD BIODIVERSITY

The certification recognises Thrive’s commitment to conserving and enhancing nature on site. 

Dunmow one of the first solar farms to be awarded Wild Power certification

We’ll be enabling organisations to install solar arrays that are owned by Thrive, on or near their premises, so they can purchase the electricity generated at a fixed and discounted rate compared to the grid, with zero upfront capital investment. This agreement is sometimes referred to as a “direct wire” PPA.
The partnership specifically targets the Commercial and Industrial (C&amp;I) sector, public sector bodies, water utilities and education, empowering them to transition to clean energy through more accessible funding models.
The collaboration combines Plugyy’s expertise in developing, installing and operating solar and battery storage infrastructure with Thrive’s 30 years’ experience funding clean energy projects across the UK.

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Plugyy launch

Making electricity generated by solar power more accessible and affordable. 

Scaling up solar: We’re partnering with Plugyy Energy Solutions to connect businesses, industry and public sector directly to clean electricity

Thrive was recently asked to speak at an event hosted by The Grantham Institute, bringing people together from across sectors to explore how businesses depend on and impact nature. And once again it reminded us of the need for continued, collective transformation if we’re to protect the UK’s biodiversity into the future.  
Biodiversity is everyone’s business 
Biodiversity is intrinsically linked with climate change – a challenge that is more widely acknowledged. That’s because biodiversity acts as the Earth’s natural defence system, with our oceans, forests, wetlands, swamps and other ecosystems helping to neutralise carbon emissions. In fact, research by The Nature Conservancy found that <a href="https://www.sweco.co.uk/transform/nbs/" target="_blank" rel="noopener">nature-based solutions</a> will provide up to 37% of the emission reductions needed by 2030 to keep global temperature increases under 2°C, potentially saving an estimated 11.3 billion tons of CO2e from being released into the atmosphere. This includes everything from building green roofs, using plants to absorb rainwater and cool buildings, to encouraging beavers to build dams to help stop flooding. 
From a business perspective, nature loss significantly disrupts supply chains, while also exposing companies to severe regulatory and reputational risk. Enhancing biodiversity should therefore be a top priority for companies looking to remain resilient, profitable and – quite frankly – do the right thing in a changing world. 
The opportunities in renewable energy 
We talk a lot about biodiversity net gain (BNG), which is a mandatory planning framework in England that requires developers to ‘leave the natural environment in a measurably better state than beforehand’. 10% BNG is the base line but there’s a real opportunity to go above and beyond this, for example we encourage creativity when working with ecologists – like creating an adjacent nature garden at our Bristol battery project. There are also opportunities to improve public access to the ecosystems close to sites – at Whitelaw Brae in Scotland, we’re planting thousands of native trees and establishing a new network of paths that will form part of the new River Tweed walking trail.  
Actively engaging with and promoting a circular economy can also protect against nature loss. There’s a growing opportunity for low carbon and recycled steel in development projects, while focus should also be given to how technologies like wind turbines are maintained – such as repurposing materials that have been historically hard to refurbish. For example, at our Sigurd turbine in Orkney we worked with a Scottish company called Reblade to repurpose the blades into EV charging points and bus shelters. This effectively reduces our waste related risks whilst also reducing supply chain related risks for other organisations.    
How we approach nature and biodiversity when building new clean energy projects  
As a renewable energy investment company, the risk we think about most is the potential impact to habitats and species during the construction and operational phases of a project. We mitigate any impact through extensive ecological surveys, which inform what we build and where. We also develop an ongoing biodiversity management plan for each site with specific targets – committed to implementing at least 10% biodiversity net gain while identifying any additional voluntary, site-specific enhancements that could be made.  
Due to the nature of our work, we also need to think about how we influence the supply chain. Thrive does thorough due diligence on suppliers and their products, but it’s important that we continue using our voice to advocate for greater transparency and standards within the industry. One thing we’re particularly proud of is feeding into the development of the Solar Stewardship Initiative ESG standard, which is now being used to assess solar manufacturers. The standard includes requirements for responsible biodiversity management and going forward we can see which manufacturing facilities have been assessed against this standard. Although there’s much more that can and should be done, if buyers like us demand products that protect and enhance nature, suppliers will have no choice but to adapt.

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In a changing word, biodiversity is everyone's business. 

Wild world: How business is contributing to a nature positive planet

This means we have now raised over £70 million to date (most of that via crowdfunding), empowering thousands of people to take a stake in clean energy projects that tackle climate change and benefit communities.
Triodos Bank UK’s corporate finance division acted as lead adviser and promoter in respect of the bond offer, with the retail portion raised through the Triodos Bank crowdfunding platform.

The capital raised will support the development and construction of two new wind farms in Scotland and Wales and provide funding to enable communities to build and own their own local projects.
Construction is already underway at Whitelaw Brae wind farm in the Scottish Borders, which – with 14 turbines and 57MW capacity – is our biggest project to date. Once operational, it will be capable of generating up to 149,400 MWh of clean electricity per year, the equivalent of powering around 45,000 average UK homes, and delivering 65,000 tonnes of carbon dioxide emissions reductions annually.
Funding will also be used for the development of Abergorki wind farm in Rhondda Cynon Taf, South Wales. The three-turbine project is expected to begin operating in 2028 and will be capable of generating up to 40,000 MWh of clean electricity per year, the equivalent of powering over 12,400 average Welsh homes.
We are continuing to make an impact by investing in community energy, with capital also going into community-owned wind and solar, providing the flexible funding to get local projects built and operational. Last year we announced our new joint venture, Community Energy Catalyst (CEC), which will invest up to £40 million in new community projects, and have committed to offering community groups the opportunity to buy a share of any new projects we acquire.

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HY report cover 1

Investment from The Archbishops’ Council and Rathbones will help us fund new renewable energy projects, including community-owned wind and solar.

New funding from institutional investors brings total bond raise to £7 million

Net zero economy is booming 
Net zero is already one of the UK’s most productive and geographically distributed sectors in the UK. <a href="https://www.cbi.org.uk/articles/net-gains-the-uks-net-zero-economy-in-2025/" target="_blank" rel="noopener">Recent analysis</a> by Confederation of British Industry (CBI) and Energy Climate &amp; Intelligence Unit (ECIU) shows net zero is now a £105 billion sector, supporting 1.1 million jobs and underpinning 23,500 businesses – surpassing the direct economic contribution of the UK’s entire architectural and engineering sector. Scotland is a particular hotspot, supporting over 105,000 jobs and representing nearly 5% of Scotland’s total economic output. 
Wind and solar outpace gas 
In April, wind and solar combined generated more electricity than gas globally for the first month ever. <a href="https://www.reuters.com/business/energy/global-wind-solar-power-outpace-gas-first-time-april-report-shows-2026-05-20/?mc_cid=6cd3d6751b&amp;mc_eid=4bbe8a52ea" target="_blank" rel="noopener">Fresh data from Think Tank Ember</a> shows that together wind and solar generated 22% of global electricity in April, compared with 20% from gas. Combined wind and solar output is estimated to have grown 13% year on year across the globe. And in the UK, renewables reached a new quarterly record, <a class="Hyperlink TrackedChange TrackChangeHyperlinkInstruction SCXW243298903 BCX8" href="https://www.renewableuk.com/news-and-resources/press-releases/renewables-hit-new-quarterly-record-and-generate-majority-of-uk-s-electricity-as-wind-leads-the-way/" target="_blank" rel="noreferrer noopener">generating 53% of UK’s electricity</a> in the first few months of 2026, driven largely by a significant increase in wind generation. 
The public back renewables for energy security 
<a href="https://www.renewableuk.com/news-and-resources/press-releases/polling-shows-british-public-places-higher-importance-on-new-infrastructure-to-boost-energy-security-and-cut-bills-rather-than-visual-impact-of-new-projects/" target="_blank" rel="noopener">New polling</a> across England, Scotland and Wales shows the public place higher importance on new infrastructure to boost energy security and cut bills rather than the visual impact of new projects. Just 11% of respondents selected visual impact as a main consideration for energy needs, with significantly larger portions of the public prioritising industrial competitiveness (39%), reducing air pollution (37%) and protecting existing jobs (25%). Another <a href="https://www.renewableuk.com/news-and-resources/press-releases/public-backs-clean-power-to-strengthen-uk-energy-security/" target="_blank" rel="noopener">new report</a> has also found that almost two-thirds (63%) of the UK public think clean power strengthens energy security.

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Net zero economy is booming and the public want more renewables - latest good news from the sector. 

We’re in the clean energy era – here are the facts to prove it.

As a result, the company has recommended a final dividend of 12p per share for 2025. If approved at the AGM in June, it will be paid to shareholders in July 2026*.
Building blocks to continue growing our impact
One of the big highlights of the year was the addition of a 10MW ground mount solar farm in Essex, which we acquired through the Fair Play Clean Energy joint venture with TopCashback Group Ltd, supporting our diversification strategy as we look to derive value from across the technology mix.
We also celebrated the first investment by Community Energy Catalyst, our joint venture with Better Society Capital, with the community-owned turbine in Kilbirnie now generating clean power and unlocking a revenue stream to fund other local initiatives. This includes a new Employment Hub, offering employment and training opportunities for local people, sustainable transport opportunities and help to address health and educational inequalities locally, as well as upgrading local sports and recreational facilities.
Also in Scotland, we made significant progress on our largest project to date, a 57MW onshore wind farm, with the foundations for the 14 turbines now poured, and construction about to get underway. A further 25.1MW of wind is currently in development.
It was great to see these achievements recognised on a global stage too, with Thrive taking home the gold for Responsible Investor of the Year at Reuters Global Sustainability Awards in October.

As well as building and acquiring new projects, we are actively pursuing life extension and repowering opportunities across our older sites. In 2025, we announced our joint venture Burgar Hill Renewables (representing the local landowner), with plans to breathe fresh life into the Burgar Hill site – a pioneering testbed for onshore wind in the UK. Subject to obtaining necessary planning consents, the repowering project is expected to have an installed generation capacity of up to 30MW which would deliver an estimated £150,000 in annual community benefits each year.
In February we took a key next step in the proposed repowering project, with Burgar Hill Energy (the joint venture between Thrive and Burgar Hill Renewables) acquiring two Nordex N80 wind turbines that were previously owned by RWE.
Supporting local communities
As part of our mission to connect as many communities as possible with renewables, we are now pledging to provide an opportunity for the local community to purchase a share of every new project we acquire.
Through our Community Benefit Programme, we awarded £33,000 to eight community hubs across the UK – helping them to make important energy efficiency improvements such as lighting and heating upgrades, insulation, double glazing and more. Stuartfield Village Hall, based near our Clayfords wind turbine in Aberdeenshire, were one of the grantees from 2025. To help manage their energy costs, they used their £4,300 grant to overhaul their lighting system.
You can read our annual report in full <a href="https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2026/05/Thrive_Annual-report-2025_Web-Final.pdf" target="_blank" rel="noopener">here</a>.
*  Please remember that past performance cannot be relied on as a guide to future returns.
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[1] Impact Portfolio describing Thrive’s share of projects owned plus 
the projects Thrive is funding (adjusted proportionally where Thrive’s 
funding is a minority of a project’s overall funding).
[2] Homes equivalent is calculated using the most recent statistics 
from DESNZ showing that annual GB average domestic 
household consumption is 3,323kWh (as of December 2025, 
updated annually). <a href="https://assets.publishing.service.gov.uk/media/6945728a033693d5d50eb83d/subnational-electricity-and-gas-consumption-summary-report-2024.pdf">Subnational Electricity and Gas Consumption Statistics, 2024</a>.
Average residents per household 2.35 (<a href="https://www.ons.gov.uk/peoplepopulationandcommunity/birthsdeathsandmarriages/families/bulletins/familiesandhouseholds/2024">Families and households in the UK &#8211; Office for National Statistics</a>), Population of Southport is 
93,902 (<a href="https://www.ons.gov.uk/peoplepopulationandcommunity/populationandmigration/populationestimates/datasets/understandingtownsinenglandandwalespopulationanddemography">Understanding towns in England and Wales: population and demography &#8211; Office for National Statistics</a>).
[3] Carbon reduction is calculated by multiplying the total amount of 
renewable electricity generated by Thrive’s impact portfolio each year by 
the number of tonnes of carbon which fossil fuels would have produced 
to generate the same amount of electricity. We have used DESNZ’s “all 
non-renewable fuels” emissions statistic of 448 tonnes of carbon dioxide 
per GWh of electricity supplied from the Digest of UK Energy Statistics 
(July 2025) Table 5.14 (“Estimated carbon dioxide emissions from 
electricity supplied”). Additionally, we include a conservative 
estimate of the carbon saved through operating our BESS projects.
[4] This includes £5.1m set-off against financial assets repaid.

beavers-47

Beavers-47

As profit levels returned to pre-energy crisis levels in line with forecasts, we have already acquired the projects we need to meet our 2028 growth target. 

Annual results 2025: Acquisition of new projects and progression with development and construction of two onshore wind farms helping to lock in impact for next 30 years

This year’s Better Business campaign is focused on highlighting the need for modern business law to keep pace with a society that has evolved significantly over the past couple of decades. As you can see, we at Thrive have certainly changed a lot, but we remain true to our mission which is even more relevant in today’s volatile world.  
20 years Thrive-ing – 2006 vs 2026 
In 2006, we were growing a small but ambitious clean energy portfolio– having just purchased Caton Moor and Sigurd wind projects. In total the portfolio had a capacity of just under 23MW.  
Fast forward 20 years, Thrive has built and funded over 45 clean energy projects across the UK, including investing in pioneering projects like the UK’s first geothermal power plant and England’s largest onshore wind turbine. Today we have £121 million of assets under management, with a combined portfolio capacity of 175MW.

Modern business law isn’t keeping up 
It’s fair to say a huge amount has changed for our business and the wider sector too, but modern business law isn’t keeping up. Together with thousands of businesses across the UK, we’re supporting the Better Business Act campaign to change that by calling on the UK government to amend Section 172 of the Companies Act. This will legally require UK businesses to balance the long-term interests of people, planet, and profit.  
Why better business is better for business   
Having already embedded Section 172 into our Articles of Association, Thrive is living proof that it is possible to prioritise social and environmental impact alongside profit. We’re proud to be recognised in the top 3% of UK B Corps for our ongoing commitment to environmental and social justice.  
UK B Corps like Thrive have spent years proving that this type of governance doesn’t just benefit people and planet – it’s better for business too. B Corps’ turnover growth is almost 7 times higher than all UK SMEs, and over the past decade they have attracted 18% more growth funding from external investors than comparable UK businesses.   
On 9th June for Better Business Day, we’ll be joining the call for the government to upgrade to better business now. Find out how you can get involved with the campaign <a href="https://betterbusinessact.org/" target="_blank" rel="noopener">here</a>.

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