12 Apr 2024
Second Thrive bond successfully repaid after seven years funding new clean energy projects
The Thrive PLC bond has been successfully repaid as planned after seven years. The bond offer, which was the first to be available within an IFISA, raised a total of £9.9 million via the Abundance crowdfunding platform in 2016/17 – exceeding its target by 33%.
The bond helped to fund new projects that deliver cheaper, cleaner electricity to homes and businesses across the UK, including a milestone community wind project in Cumbria in 2017. Mean Moor wind farm was the first recipient of our award-winning community energy funding bridge, enabling the first commercial scale wind farm in the country to transfer from a developer to 100% community ownership. Funds raised by the bond were also used to build a 6MW wind farm in West Lothian on the site of a disused coal mine, as well as a 2MW hydro-electric project in the Scottish Highlands.
“Being innovative in the way we raise capital enables us to deliver on our mission to connect as many people as possible to clean energy. We’d like to say a huge thank you to everyone who participated in the bond offer in 2016 and hope that you take as much joy as we do in the new clean energy projects that we have been able to develop as a result over the past seven years. As we continue to grow and invest in a diverse range of clean energy technologies like wind, solar and battery storage, we look forward to further helping the UK decarbonise its energy system.”
Thrive was ‘highly commended’ at Investment Week’s Sustainable Investment Awards in 2017 for this innovative green energy bond, giving bondholders the opportunity to include their investment in an IFISA.