07 May 2025
Thrive launches new share offer following record year of capacity growth
The offer is now closed on the Triodos platform.
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.
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.”
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.”
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.