Thrive launches new share offer following record year of capacity growth

News

07 May 2025

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

Article written by alex.lomax

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In 2023, we announced we would double the generation capacity of our portfolio within five years. With the acquisition of two new onshore wind farm sites in 2024, plus a strong pipeline of solar and community-owned projects, we’ve already made significant progress towards that goal. We have now secured development rights for new projects that will take our total capacity from 91.5 to 170.1MW by 2027.

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.

Read the offer document and invest.

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. Take 2 mins to learn more.

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.

“It’s great to be working with the Thrive Renewables team again to bring this share offer to investors. The UK electricity market has transformed in the last 20 years and 2024 was a record year for renewables. Thrive allows everyday investors to play a part in that systemic shift and deliver positive climate solutions.”

Whitni Thomas, head of corporate finance at Triodos Bank UK

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.

“Since its foundation, Thrive has been connecting investors with clean energy projects right across the UK. 30 years on, the climate emergency is at crisis point and many of the world’s leaders are not stepping up or taking action fast enough. This latest crowdfunding raise has the potential to bring together thousands of individuals and impact-driven corporate investors to help create a fairer, brighter future where everyone benefits from cheaper electricity.”

Matthew Clayton, CEO of Thrive Renewables

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.

Read the offer document.

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.