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In the year we celebrated 30 years building and funding clean energy projects, it was special to acquire the rights to our biggest project yet. Construction has started on a 57MW wind farm in the Scottish Borders, which will generate enough power to meet the needs of over 45,000 average UK homes a year once operational.
The project was acquired with the support of our new match funding partner, TopCashback Sustainability Ltd. Fair Play Clean Energy, Thrive’s joint venture with TopCashback Sustainability brings together a combined £80 million in capital to fund new clean energy projects in the UK. An additional £20 million in match funding has also been secured to fund community owned wind and solar via our partnership with social impact investor, Better Society Capital, ensuring ordinary people can own and benefit from their local projects.  The two funding relationships allow Thrive to accelerate the scale of impact deliverable.
Last year we also acquired the rights to the 12.6MW Abergorki wind farm in South Wales which is due to start construction this summer.
With 40MW of new capacity added to our development pipeline in 2024, plus a further 35MW of match funded development capacity, we are well on track to achieve our goal to double generation capacity by 2028.
We recently launched a new share offer to help fund these new projects. More details are available on the <a href="https://www.triodoscrowdfunding.co.uk/invest/thrive-renewables" target="_blank" rel="noopener">Triodos Bank crowdfunding platform</a>.

Supporting communities near our sites remains a crucial part of our social impact work. Through our annual Community Benefit Programme, last year we awarded £33,000 in energy efficiency grants to community centres close to our clean energy projects. The grants have enabled important community hubs to make energy efficiency improvements, such as insulation and draught proofing that help cut carbon and costs.
We were also pleased to celebrate our 30th birthday with many of you at our open day at Caton Moor wind farm in September.
You can read our annual report in full <a href="https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2025/05/Thrive_Annual-report_2025_Web_Final.pdf" target="_blank" rel="noopener">here</a>.

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Chris Watt Photography_87

Highlights from our annual results.

Thrive announces £11.3 million operating profit for 2024 – with £20.6 million cash allocated to build new clean energy projects

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We were excited to learn that Thrive featured in the top 20 of businesses in the South West and placed 281st overall, with a 163% growth in revenue between 2021 and 2023. Thrive was in good company with the likes of OVO and Ethical Power also listed.
According to Business Leader, <a href="https://businessleader.co.uk/feature/growth-500">the Growth 500</a> is the largest and most comprehensive guide to the fastest-growing businesses in the UK. Compiled by Robert Watts, the man behind The Sunday Times Rich List, all the data is sourced from publicly available annual accounts filed by businesses with Companies House between May 1, 2024, and April 23, 2025.

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G500

Thrive featured in the top 20 of businesses in the South West and placed 281st overall, with a 163% growth in revenue between 2021 and 2023.

Thrive ranks as one of the UK’s most ambitious businesses in the Growth 500 list

As part of its annual progress report to Parliament, the tone was more optimistic than in recent years, with the CCC commending the Government’s “bold policy decisions” following its recent election, which includes the swift removal of the de-facto ban on onshore wind. The biggest gap identified by the CCC, however, is also something that featured heavily in the Government’s industrial strategy – the cost of energy.
Published last week, the Government’s 10-year plan to boost investment, create jobs and accelerate British business emphasised that clean energy is central to the UK’s economic growth. As one of eight sectors of strength, the Government published its complementary <a href="https://assets.publishing.service.gov.uk/media/68587856b46781eacfd71de4/industrial_strategy_clean_energy_industries_sector_plan.pdf">Clean Energy Industries Sector Plan</a>, which it hopes will help tackle two of the biggest barriers facing UK industry right now – high electricity prices and long grid connection times. Below we unpack some of the key takeaways.
Electricity costs 
You may be aware that the UK currently operates under a marginal pricing system, which means the most expensive source of power needed to meet demand – i.e. gas – dictates the price for all our electricity.
But, as well as the price of the energy itself, the Government requires energy providers to collect levies or “policy costs” to help fund Government initiatives. Because of how the Government has chosen to apply them, the majority of the levies associated with the transition to clean energy are currently added to electricity bills. This means that people are paying disproportionately higher amounts for electricity compared to gas, despite <a href="https://www.nesta.org.uk/project/finding-ways-to-deliver-cheaper-electricity-by-rebalancing-levies/household-energy-bills-green-levies/">UK households consuming around three times as much gas each year.</a>
Central to the recent industrial strategy was how it can reduce energy costs for big electricity users, with the Government stating that it plans to introduce a “British industrial competitiveness scheme” from 2027. The idea is that this will reduce electricity costs through exemptions from paying green levies such as the Renewables Obligation, which requires electricity suppliers to source a specific proportion of their electricity from renewable energy sources, and the Feed-In-Tariff.
Unfortunately, these interim measures do not support the long-term switch from fossil fuels to homegrown, clean energy. <a href="https://www.edie.net/ccc-expensive-electricity-is-biggest-hurdle-to-britains-net-zero-transition/">As the CCC has pointed out</a>, what we need to see is the Government restructuring these levies all together, removing the legacy costs that have been placed on electricity bills and placing them on gas or into general taxation. <a href="https://www.edie.net/ccc-expensive-electricity-is-biggest-hurdle-to-britains-net-zero-transition/?utm_medium=email&amp;utm_campaign=edie_daily_news_alert_25-06-2025&amp;utm_content=edie_daily_news_alert_25-06-2025+CID_ec79a57c63297a0733166e724823bba6&amp;utm_source=campaign%20monitor&amp;utm_term=CCC%20Expensive%20electricity%20is%20biggest%20hurdle%20to%20Britains%20net-zero%20transition">It estimates that doing so would reduce the ratio of domestic electricity to gas prices from around 4:1 currently to between 2:1 and 3:1 – a ratio comparable to Ireland and France</a>.
The energy transition requires us to migrate our heat and transport energy consumption from fossil fuels to electricity. If the levies were collected from fossil fuel consumption, electricity would be cheaper and the transition would accelerate.
Grid connections
The grid is currently a major barrier to progress, with limited connection capacity and inefficient queue management slowing down delivery timelines, meaning projects could be waiting years before they are connected and generating clean power for UK homes and businesses.
In April, Ofgem approved major reform to the grid connection process, with an aim to accelerate progress toward clean power by 2030 by pushing ready to build projects to the front of the queue. Additionally, there are proposals to ensure smaller projects such as micro solar and community energy do not face delays due to large transmission upgrades.
The industrial strategy recognises that the grid remains a major challenge, with the Government announcing that it is exploring new ways to ensure strategically important projects are connected to the grid quickly. This includes the creation of a new “connections accelerator service” which it says will prioritise projects that guarantee high quality jobs and bring the greatest economic value. While we welcome this in principle, we will need to see how this works in practice and want to ensure that small to medium sized projects, that are equally as important to communities, are not deprioritised.
Onshore wind
The Government will be establishing a new joint Government-industry forum to implement its forthcoming onshore wind strategy. The sector plan has given us a hint of what is to come, including the potential for onshore wind to be included in its Clean Industry Bonus. This will give onshore wind developers access to more revenue for investments in clean, sustainable supply chains as part of its Contracts for Difference (CfD) scheme – which we think will help boost investor confidence.
Other suggestions include:
<ul>
<li>Working with industry body, RenewableUK, to conduct a supply chain capability analysis for onshore wind this year.</li>
<li>Implementing ambitious new reforms to decrease the rate of attrition in the planning system and ensure streamlined consenting.</li>
</ul>
We have been actively involved in the finance working group for the Government’s onshore wind taskforce and will continue engaging with policymakers on the key opportunities and challenges facing the clean energy sector, with the ultimate objective of accelerating the transition to a cleaner energy system.
Skills
The Government has committed to “upskill the nation” with an extra £1.2 billion a year for skills programmes by 2028-29.  It will shortly set out its first ever Clean Energy Workforce Strategy, ensuring it’s “taking full advantage of the skills of our existing energy workforce and giving a new lease of life to industrial and coastal communities”. As part of this it will invest over £100 million in building engineering skills in England, as well as supporting an additional 65,000 16–19- year-olds in England by 2028-29, including providing key pathways into priority occupations in the sectors identified as strengths for Britain.
Following years of uncertainty, it was a breath of fresh air to see clean energy at the heart of the Government’s industrial strategy and a clear, consistent plan for the industry to work with. Aligned with the CCC’s findings, we do think the Government has missed a trick by not re-distributing the levies onto gas bills – which would incentivise switching to cleaner, more sustainable sources of energy.

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We share our thoughts on the Government’s 10-year plan to boost investment, create jobs and accelerate British business.

Missing a trick on the cost of energy? Unpacking the latest moves from the Government and Climate Change Committee

This is our second time winning this award, and it felt particularly special to be recognised in the year we’re celebrating thirty years building and funding renewables.

To top off the month, we were highly commended at the British Renewable Energy Awards.

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BG investor of year 2025

Celebrating an award winning month at Thrive. 

ESG Investor of the Year 2025

<a href="/news/2024/12/weve-acquired-the-development-rights-for-our-biggest-project-to-date-a-57mw-onshore-wind-farm-in-scotland">Whitelaw Brae, a 57MW wind farm project in Scotland</a>, is wholly owned by Thrive Renewables. We bought it from the original developer at the end of last year after a competitive tender. Ripple was not part of that transaction and Thrive has not received any funds from Ripple Energy or Coop 4.    
We were exploring ways to integrate Coop 4 into the project before Ripple went into administration, and since then we have made contact with the directors of Coop 4.  As owner of Whitelaw Brae, we will continue with construction and we hope to include an opportunity for shared ownership if possible.      
Thrive Renewables was established in 1994 and has an operational portfolio of 24 clean energy projects, with further projects in development. We have a long track record of supporting community and shared ownership, both at the sites we own and by providing finance for community-owned energy projects. You can find out more here  <a href="/project-funding/community-energy-groups">Community energy groups – Thrive Renewables</a>

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Thrive Renewables

Whitelaw Brae wind farm update - June 2025

It was a joy to welcome Hugh Fearnley Whittingstall and children from the city to our Bristol wind farm to film an ad, where they got to experience renewable energy in action. For many, it was their first time seeing a wind turbine up close. But what was most inspiring was how instinctively they ‘got it’: that clean, homegrown energy just makes sense &#8211; and that it should benefit everyone.
That’s been our belief for 30 years now. We’re proud to have supported 44 renewable projects across the UK, powered by thousands of individuals who’ve chosen to believe in a better future.
And if this visit was anything to go by, that future is already finding its roots.

Watch as the renowned food writer and environmental campaigner is joined by local primary school children to explore the power of wind and sunshine – and have some fun along the way. 

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3S3A0248

#Ad School trip to the future with Hugh Fearnley-Whittingstall

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Still for Guardian

We invited Hugh and a group of children to our Avonmouth wind farm to explore the power of wind and sunshine.

Our new ad: a school trip to the future with Hugh Fearnley-Whittingstall

Thrive was honoured to be awarded Net Zero Developer at the awards for a second time. And it’s particularly special to be recognised by the judges as “a true exemplar of the energy transition” in our milestone 30th birthday year. Hear our reflections on three decades in the sector in<a href="https://www.regen.co.uk/insights/thrive-renewables-regens-net-zero-developer-2025" target="_blank" rel="noopener"> our blog with Regen.</a>

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Caton multiple turbines

After being awarded Net Zero Developer at Regen’s Green Energy Awards, we reflect on 30 years of bringing together people, proven technology and a pioneering approach to accelerate the rollout of renewables.

Thrive Renewables: Regen’s Net Zero Developer 2025

In recent months, the leader of the opposition, Kemi Badenoch, has claimed that net zero cannot be achieved by 2050 &#8220;without a serious drop in our living standards or by bankrupting us&#8221;. And now we’re watching on as newly elected Reform councils promise to block any net zero and renewable infrastructure plans, with little thought to the <a href="https://www.theguardian.com/politics/2025/may/07/reform-uk-green-energy-assault-lincolnshire-jobs-risk">£1 billion in local investment and more than 12,000 jobs that will be put at risk</a>.
It&#8217;s something that – over our thirty years working in renewables – we’ve seen time and time again. The clean energy movement has always been targeted by a very noisy minority, but it doesn’t mean that progress has not been made. To the contrary, 2024 was the first full year in which renewables generated over 50% of the UK’s electricity and we’re now <a href="https://www.gov.uk/government/news/uk-half-way-to-net-zero">halfway to net zero as emissions have been cut by over 50% compared to 1990 levels</a>. That is something to be celebrated. We also know that most people are in favour of net zero, with 82% of the population on board with using renewables such as wind and solar to provide electricity, fuel and heat.
Despite some political parties suggesting that action on climate change is not possible without harming ordinary people, what’s abundantly clear is that inaction is already causing us harm. Instead, a just transition will ensure that the move to a decarbonised energy system happens with people, and not to people.

On a political level, we want to see people put at the heart of net zero plans, from energy efficient housing and support for local projects to upskilling and training for oil and gas workers navigating the transition. In fact, <a href="https://www.theguardian.com/environment/2025/may/12/uk-windfall-tax-fund-switch-green-jobs-north-sea-oil">new research has found</a> the making UK’s windfall tax on oil and gas producers permanent would generate vital funds for the shift to a low carbon economy, including a training fund for oil and gas workers.
On a business level, there’s several ways we’re contributing. For starters, we’ve invested over £21 million in community energy projects – like England’s largest, 100% community-owned wind turbine in our home city of Bristol. Not only do community energy projects generate clean power and contribute to our wider net zero targets, but they also provide community groups with income that can be used to fund other important initiatives. As well as supporting communities to own and operate their own projects, we recently announced our commitment to offering the local community an opportunity to own a stake in our future projects. Shared ownership arrangements like this are a real example of communities and businesses working together to achieve a common goal.
Our community benefit programme also provides energy efficiency grants to the communities living close to our sites, helping important shared buildings stay warmer and cheaper to run during the winter. Since 2016, we’ve awarded 70 grants to 58 community buildings, totalling over £225,000 nationally.

We share our thoughts on why there's still power in uniting to tackle the climate emergency.

Net zero: The power of together in a time of division

Once commissioned, the project will be capable of generating up to 14,500 MWh of clean electricity per year, the equivalent of powering over 4,390 average UK homes [1], and delivering emissions reductions of 6,337 tCO2e [2]. We will also be offering an opportunity for shared ownership, with the local community able to own up to a 10% stake.
Acquired from the original developer, PS Renewables, Dunmow is the third project to be funded by Fair Play Clean Energy Ltd, our joint venture with TopCashback Sustainability, which brings together a combined £80 million in capital to fund new clean energy projects in the UK.
It is also Thrive’s first, wholly owned ground mount solar project and forms part of our ambitious growth plans to double the generation capacity of our portfolio by 2028. We recently announced that we have already made significant progress with this goal, securing new project development rights that will take our total capacity from 91.5 to 170.1MW by 2027.
The project already has a biodiversity management plan in place, with measures such as wildflower grassland creation and hedgerow enhancement expected to result in a significant ‘biodiversity net gain’ (+65% for habitat units and +19% for hedgerow units), exceeding the typical minimum 10% threshold set by planning authorities in England. We will also be investigating what additional voluntary actions we could implement to further enhance these existing habitat management commitments.<a href="#_ftnref1" name="_ftn1"></a>

[1] Based on a P50 of 14,500 MWh and calculated using the most recent statistics from the Department for Energy Security and Net Zero showing that UK average domestic household consumption is 3,301 kWh per annum (<a href="https://assets.publishing.service.gov.uk/media/6763dd7ebe7b2c675de30820/Subnational-electricity-and-gas-consumption-summary-report-2023.pdf" target="_blank" rel="noopener">https://assets.publishing.service.gov.uk/media/6763dd7ebe7b2c675de30820/Subnational-electricity-and-gas-consumption-summary-report-2023.pdf</a>)
[1] Based on a P50 of 14,500 MWh and calculated using DESNZ’s “all non-renewable fuels” emissions statistic of 437 tonnes of carbon dioxide per GWh of electricity supplied in the Digest of UK Energy Statistics (July 2024) <a href="https://www.renewableuk.com/energypulse/ukwed/">https://www.renewableuk.com/energypulse/ukwed/</a>

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The site will contribute to the 47GW of new solar needed by 2030 as outlined in the Government’s Clean Power 2030 Action Plan. 

Let the sun shine…We’ve acquired a 14MW ground mount solar farm!

To help fund this exciting period of growth, today we have launched a new share offer on the Triodos Bank Crowdfunding platform, aiming to raise £5 million to build new clean energy projects that will cut carbon emissions, help reduce household bills and benefit communities.
<a href="https://www.triodoscrowdfunding.co.uk/invest/thrive-renewables" target="_blank" rel="noopener">Read the offer document and invest</a>.
You will need to register for Triodos Bank’s crowdfunding platform to access the offer document. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. <a href="/risk-summary/">Take 2 mins to learn more</a>. 
Our co-investment partnership with TopCashback Sustainability, will enable us to deploy an additional £40 million of capital by match funding what we invest. We’ve also recently announced a new joint venture with leading social impact investor, Better Society Capital, bringing together £40 million for community-owned wind and solar projects across the UK. Fair Play Clean Energy, Thrive’s joint venture with TopCashback Sustainability, will provide £20 million of the investment, with Better Society Capital providing matched funding.

Strong financial performance 
Last year saw us make significant progress with our growth strategy, securing the rights to build a 12.6MW wind farm in Wales and 57MW wind farm in the Scottish Borders, which is now under construction.
These new deals complement our existing operational portfolio of 24 projects which generated £11.3 million in operating profit (£9.3 million in profit after tax and minority interests) on a revenue of £26 million in 2024. In 2024, 20.6 million was reinvested back into building new renewable projects, while our existing wind, solar and hydro projects generated over 132,000 MWh of clean electricity and delivered emissions reductions equivalent to 61,810 tCO₂e.
A dividend of 12 pence per share has been recommended by the board for shareholder approval at the AGM in June. If approved, the dividend will be paid in July 2025.
Other recent developments include the construction of the ATTIX CIC community-owned wind turbine in Kilbirnie and the installation of the generation turbine at United Downs in Cornwall, with both sites expected to be operational in the coming months.

Now open, the minimum investment in the crowdfunding offer is £247 (100 shares) and shares can be held in a self-invested personal pension (SIPP). The company is targeting 5-8% return per year through a combination of dividends and increasing share value. This should be seen as a long-term investment. As with all investments, returns are not guaranteed, and investors may not get back all, or any, of their original investment.
<a href="https://www.triodoscrowdfunding.co.uk/invest/thrive-renewables" target="_blank" rel="noopener">Read the offer document</a>.
You should read the offer document in full before deciding whether to invest. Investing in the shares of a company involves risks, including potential for loss of capital and future dilution, lack of dividends and lack of liquidity, and should only be considered as part of a diversified investment portfolio. If you are unsure as to the suitability of the investment, you should contact an independent financial advisor.
This financial promotion was approved on 7 May 2025 by Triodos Bank UK Limited, registered in England and Wales with no. 11379025. Registered Office: Deanery Road, Bristol BS1 5AS, United Kingdom. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 817008.

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We’re looking to raise £5 million to help fund our project pipeline, including two ready to build onshore wind farms totalling over 69MW. 

Thrive launches new share offer following record year of capacity growth

Last year the UK energy transition reached new milestones, as the last coal fired power station closed its doors and the UK’s wind fleet set new records &#8211; becoming the largest source of electricity generation for the first year ever. 
Plus, there were a number of positive actions from government, culminating in the publication of their <a href="/news/2025/01/lets-not-forget-smaller-local-projects-in-the-new-era-of-clean-electricity" target="_blank" rel="noopener">Clean Power 2030 Action Plan</a> at the end of the year. Whilst we push for further action from government to accelerate the energy transition, we’re busy as ever building more renewables to lower emissions and create a fairer, more secure energy system.

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Chris Watt Photography_427

In our 30th year rolling out renewables, we generated enough clean power for over 40,000 average UK homes.  

Good generation across the portfolio in a historic year for UK energy

As long-term advocates of community ownership, we were proud to represent the sector in parliament this month, giving evidence to the Energy Security and Net Zero committee inquiry ‘Unlocking community energy at scale’. From community energy groups to facilitators, charities and funders like Thrive, it brought together leaders from across the industry to have an insightful discussion on the potential of locally owned projects and the barriers to progress.
One of the questions asked was whether a public awareness campaign would be helpful and, if the above stat is anything to go by, our response is yes! Community energy is a climate solution that could be accessible to thousands of people across the country, yet many are unsure of what it is and how to access it.
<h4>What is community energy?</h4>
According to Community Energy England, “community energy is about people and communities taking democratic control over their energy future, by understanding, generating, using, owning and saving energy in their communities”.
In many cases, this would be when a community takes control and owns, or has a share, in a project producing clean energy – for example, the Ambition Community Energy turbine in Bristol which has been operational since 2023. The clean electricity generated helps power homes and businesses, while revenues are used to fund other local initiatives.
What change do we need to see for community energy to flourish?
Although community energy has been gaining momentum for a number of years, the new government has shone a light on the sector – with specific reference to supporting community projects in both its Local Power Plan and Great British Energy Bill.
However, there are various challenges community energy groups face when developing their own projects, in particular a lack of funding, sometimes skills and expertise and access to appropriate sites. As part of the committee inquiry, Thrive suggested that we need to see a positive change in at least one of these areas:
Revenue / power price – Revenues are driven by the underlying productivity of the project (MWh) and the route to market (power prices). One key change the government could make is enabling community energy projects to participate in its Contracts for Difference auctions, which provides more revenue certainty. This is not currently accessible to community groups as most projects are too small to participate.
Development and capital expenditure – Government funding currently tends to flow more to feasibility studies than developing projects, prioritising innovation over typical developer skills (land agents, property lawyers, developers). We propose GB Energy to offer a revolving fund of low interest, long-term construction loans designed to complement private sector investors and development loans with write off ability.
Grid connections – Another way to bring down upfront costs would be for GB Energy to fund the grid infrastructure and then charge the community an annual fee over the project’s lifetime. At the end of its life, the project could be repowered in which the new project would continue payments to GB Energy. The investment case into grid by GB Energy could be long term and given the lower risk profile could attract lower cost of capital.
It is vitally important that support is provided by Great British Energy to make projects viable, but great care should be taken to ensure that finance is carefully blended, so public money seeds and facilitates private and community investment rather than replacing it.
How is Thrive helping to unlock local investment?
We believe that there is huge opportunity for community energy to scale up, with the potential to transform people’s attitudes to renewables locally. This can be achieved with a blend of finance from the private and public sector.
Thrive has committed to offering local Community Benefit Societies up to a 10% stake in all future projects. This builds on our track record of facilitating shared ownership, from the first wind farm we built in Cumbria to becoming the first commercial developer in the UK to offer the local community a stake in a battery storage project.
We’re also helping to facilitate projects through <a href="/news/2025/03/were-partnering-with-the-uks-leading-social-impact-investor-to-mobilise-40-million-for-community-owned-energy-projects">our new partnership with social impact investor, Better Society Capital</a>. The joint venture, Community Energy Catalyst, will bring together £40 million to support local communities to build their own clean energy infrastructure or secure stakes in larger regional renewable energy schemes.
Community Energy Catalyst will make investments ranging between £0.5 million to £30 million in individual projects which are at least 1MW in size and employ proven technologies such as onshore and offshore wind, solar PV and hydro-electric. The joint venture will target late-stage development projects that have already secured planning consent, enabling them to advance through to construction, commissioning and operation while aligning with local objectives.

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Thrive announces £11.3 million operating profit for 2024 – with £20.6 million cash allocated to build new clean energy projects

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