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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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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

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While it sounds like a no-brainer, the government failed to include any tangible target for onshore wind – something that has been widely criticised, especially given the fact that it’s one of the cheapest and fastest ways to build new renewable capacity. Below we summarise the government’s ‘woolly’ commitments to onshore wind and explore how we can continue supporting the roll-out of this technology.
<h3>Unpicking the energy security strategy</h3>
It was disappointing to see the government miss an opportunity to unleash the full power of onshore wind. Instead of supporting widespread acceleration through changes to planning regulations, the government has said that it will be consulting on how to develop partnerships with ‘a limited number of supportive communities who wish to host new onshore wind infrastructure in return for guaranteed lower energy bills’.
The problem with this is that we know from the government’s own research that support for onshore wind is widespread, so we will need to understand how the government plans on categorising this ‘limited number of supportive communities’. Of course, we are very keen to engage with the consultation to help build new onshore wind for those that want it – something which is currently extremely challenging for them to do in England.
There was also a nod to repowering, with the government consulting on how it can facilitate the replacement of machines at the end of their life with new, more efficient models. Again, quite how this unfolds is yet to be seen but repowering has the potential to generate much more power from an existing site and, if we don’t get this right, the UK’s fleet of renewables could shrink over the next 15 years rather than grow at the pace required.
We undertook the exercise at our Caton Moor wind farm, replacing ten old turbines with eight more modern, efficient machines. As a result, we were able to increase generation sevenfold to 47 million units of electricity per annum.
<h3>Communities are on board with wind </h3>
For many years there has been an assumption that the British public do not like onshore wind, something that David Cameron used to his advantage when introducing an effective ban back in 2015. This could not be further from the truth. In fact, at over 75%, public support for onshore wind is high and this is true across the political spectrum, with 88% of Lib Dem voters in favour of the technology, followed by 83% of Labour voters and 79% of Conservative voters. According to the <a href="https://www.theguardian.com/environment/2022/apr/10/three-quarters-of-britons-back-expansion-of-wind-power-poll-reveals">Opinium poll carried out on behalf of the Observer</a>, two thirds of respondents would also be happy for a windfarm to be built near them.
We’ve witnessed first-hand the positive impact onshore wind can have on host communities. We’ve recently provided a £4 million loan to Ambition Community Energy, enabling the community in Bristol to get their 4.2MW wind project – the tallest in England – into construction. Once built, the turbine will produce enough clean electricity to power close to 3,000 homes – equivalent to the domestic use of Lawrence Weston – and will provide a new revenue stream for residents, with 100% of the profits being reinvested into the local area.
While the benefits promise to be great, it hasn’t been a straightforward process for the Ambition Community Energy team. The group first committed to the idea of hosting a wind turbine in 2016 and have had to overcome many challenges since, including the legacy of the 2015 planning restrictions which meant developers had to prove that a project will be built in an area designated for wind and that it’s stated so in the local plan. In this case, planning officers initially recommended a rejection of the community-owned turbine, but Bristol City Council’s planning committee voted unanimously in its favour. Because of these restrictions, the project also had to be submitted to the Secretary of State for final approval, despite the fact there was unanimous support from the community.
The government has rightly identified that communities do need to be supportive of local onshore wind as part of its energy security strategy, but just how that support will be defined is still up for discussion. Current planning policy makes it difficult for local authorities to approve these types of projects, with <a href="https://info.uwe.ac.uk/news/UWENews/news.aspx?id=4220">research by Dr Rebecca Windemer,</a> lecturer in environmental planning at the University of West England, finding that new wind farms can’t be developed in 89% of local authorities in England. Moving forwards, we’d be looking for the government to make regulation changes that better support local planning authorities and ensure those who are in favour of wind can get it built.
We will certainly be doing everything we can to help communities generate their own power from wind – not only helping to lower energy bills amid soaring wholesale gas prices, but creating the infrastructure needed to support a homegrown, clean energy system in the UK.
<h3>Moving forwards with onshore wind</h3>
It’s no secret that the government has missed a huge opportunity to maximise the onshore wind projects that are ready-to-go in the UK but, while we wait for the consultations on community engagement and repowering, we’d now like to see attention turn to the fourth Contracts for Difference (CfD) auction which is due to take place soon.
Since the government initially set out its intentions for the auction, a number of things have changed. Specifically, consumer bills have risen drastically due to the gas price crisis and invasion of Ukraine, and its own energy security strategy set out a target of achieving 95% low carbon power by 2030. We’re supporting RUK in its More Renewables Today campaign, urging Boris Johnson to secure additional onshore capacity as part of the next CfD auction to produce cheaper, homegrown electricity.
Why does this help? The government’s Contracts for Difference scheme guarantees a set power price over 15 years, reducing the risk for investors and therefore the capital cost for developers. By securing low-cost, long-term clean power supplies for consumers, the CfD insulates households from the volatile costs and price shocks we’ve seen recently. In fact, RUK states that if the fourth CfD allocation round were to secure an additional 2.2GW above the Government’s current ambitions, this would cut consumers’ exposure to gas by a further £1.5bn a year.
It’s also important to remember that solar and onshore wind sites can be built faster than any other form of new electricity generation. That means that shovel-ready onshore wind and solar farms could be providing the UK with clean, low cost, homegrown power as early as next year if the government seizes the opportunity now.

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How can we harness the power of onshore wind post energy security strategy?

Thrive has provided a £4 million loan to get this brilliant initiative into construction, with groundwork likely to start in June and the commissioning of the turbine expected in Spring 2023.
With a maximum capacity of 4.2 MW, the 115m diameter, 150m tip height turbine will be capable of generating enough power for close to 3,000 homes – the equivalent to Lawrence Weston’s domestic use – and will save almost 120,000 tonnes of carbon emissions over its lifetime.
Providing a new revenue stream for the local community in Lawrence Weston, all profits from electricity sales will be reinvested back into the area, acting as a driver for regeneration. The group also plan to build an Energy Learning Zone to inspire young people and provide training to upskill residents for zero carbon careers.
Set up as a community interest company, Ambition Community Energy was born out of Ambition Lawrence Weston – a Bristol-based charity established in 2012 by a group of residents who wanted to make the area a better place to live, after a decline in local services.

Ambition Community Energy initially received funding from the Urban Community Energy Fund in 2016 (BEIS funding which was supported &amp; administered by Bristol-based organisation Centre for Sustainable Energy). Bristol City Council’s Energy Services Team agreed to help them identify suitable council land and the planning application received support from residents, local communities and local councillors, as well as funding from the Bristol Community Energy Fund, Bristol and Bath Regional Capital and the West of England Combined Authority (European Regional Development Funding) and a number of private individuals.
Planning officers recommended a rejection of the scheme, but Bristol City Council’s planning committee voted unanimously in its favour. Despite this, the project still had to be submitted to the Secretary of State for final approval.

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Guardian group shot ACE

We’re providing £4 million in funding for a new 150-metre community owned wind turbine near Lawrence Weston, Bristol.

Power for the people – Ambition Community Energy to build England’s tallest wind turbine

The challenge is that changing the energy system takes time, so taking a long view is essential. It was positive to see that the strategy aligned with how we’re going to achieve net zero, recognising the important role renewables will play in ending our reliance on fossil fuels and lowering the cost of energy. In fact, the government stated that 95% of the country’s electricity could come from low-carbon sources by 2030 – five years ahead of its existing aim of decarbonising the grid by 2035. It largely focused on nuclear power and offshore wind, however, and missed obvious, shorter-term solutions such as improving energy efficiency and utilising onshore wind.
Below are some of our biggest takeaways from the strategy and what this means for increasing energy security, helping with fuel poverty and tackling the climate crisis.
<h3>Solar power</h3>
The government has stated that it will look to increase the UK’s current 14GW of solar capacity, with the potential to grow this up to 5 times by 2035. Alongside onshore wind, solar is one of the quickest and cheapest ways to generate clean power, but there were no concrete targets or details, other than the need to explore both large-scale projects and rooftop solar panels. Commercial rooftop solar arrays can help businesses to reduce energy bills and decrease their carbon footprint. We’ve been working with Olympus Power since 2020, building on our ‘direct wire’ approach where businesses benefit financially and environmentally from the electricity they generate on site.
In response to the strategy, Solar Energy UK stated that a five-fold increase in generation would help support 60,000 green jobs. However, to achieve this there has to be ‘significant investment in grid infrastructure and further reforms to planning to expedite new solar projects’.
<h3>Onshore wind </h3>
Prior to the strategy, we supported RenewableUK (RUK) in its calls for a tangible target around onshore wind. According to RUK, doubling the UK’s capacity to 30GW by 2030 would reduce consumer bills by £16.3 billion, generate £45 billion of economic activity and create 27,000 full-time jobs in the UK. Analysis by Carbon Brief has also revealed that wind and solar generation is now <a href="https://twitter.com/DrSimEvans/status/1501556278115676163">six times cheaper than UK gas generation.</a>
Despite claims to the contrary, wind turbines are popular with the public, much more so than nuclear. In fact, public attitudes data from BEIS has found that 80% are supportive of building new onshore wind capacity, compared to 37% with nuclear<a href="#_ftn1" name="_ftnref1">[1]</a>. It was therefore really disappointing to see the government miss a huge opportunity to unleash the power of onshore wind. Instead of supporting widespread acceleration through changes to planning regulations, the government has said that it will be consulting on how to develop partnerships with ‘a limited number of supportive communities who wish to host new onshore wind infrastructure in return for guaranteed lower energy bills’.
The problem with this is that the planning restrictions introduced under David Cameron in 2015 have made building new onshore wind almost impossible for communities in England because they have to show that the site is designated for onshore wind development and is stated so in the local plan. Research by Dr Rebecca Windemer, lecturer in environmental planning at the University of West England, found that new wind farms <a href="https://info.uwe.ac.uk/news/UWENews/news.aspx?id=4220">can’t be developed in 89% of local authorities in England</a>. Given the very ambiguous wording shared in the strategy, it will be interesting to see how this consultation plays out and what changes they will be making to support those wanting to host onshore wind projects. Our work for the last 25 years has been helping people meaningfully connect with renewable energy and we will be doing everything we can to open up opportunities for communities looking to generate their own power from wind.
It&#8217;s worth mentioning that it wasn’t all doom and gloom for onshore wind. The government did mention that it will look at arrangements to support the repowering of existing onshore wind sites, which we consider to be a crucial component in decarbonising the energy system.  Again, quite how this unfolds is yet to be seen but repowering and life extension has the potential to generate much more power. We undertook the exercise at our Caton Moor wind farm, replacing ten old turbines with eight more modern, efficient machines. As a result, we were able to increase generation sevenfold to 47 million units of electricity per annum.
<h3>Battery storage</h3>
The ramping up of renewables has knock-on effects for storage innovation, with the government stating that within the decade we will need to prioritise ‘hyper-flexibility in matching supply and demand so that minimal energy is wasted’. It claims that a more efficient, responsive system could bring costs down by up to £10 billion a year by 2050.
To enable this flexibility, the strategy also states that the government will ‘encourage all forms of flexibility with sufficient large-scale, long-duration electricity storage to balance the overall system by developing appropriate policy to enable investment’. Again, there is a lack of clear targets but it’s positive to see acknowledgement of battery storage and the role it plays in balancing out the variability of renewable sources such as wind and solar. In addition to the 5MW battery we built in 2021, we’re commencing construction of a 20 MW site at Feeder Road in Bristol, which will have the capacity to deliver 1.5 hours or 30MWh of electricity to the national and local grid. The benefit of smaller scale projects like this is that they can be developed relatively quickly and can work in tandem to operate as a single, distributed power plant.
It’s important to note that there were also positives around geothermal, offshore wind and floating wind, but the strategy was less of a detailed action plan and more of a list of woolly ‘ambitions’. We remain committed to informing these conversations as we move forwards.
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<a href="#_ftnref1" name="_ftn1">[1]</a> <a href="https://www.gov.uk/government/collections/public-attitudes-tracking-survey">https://www.gov.uk/government/collections/public-attitudes-tracking-survey</a>

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Following soaring wholesale gas prices, the government has published its energy security strategy. Below we digest the key takeaways and what it means for the future roll-out of renewables in the UK.

Energy security strategy – A disappointing result for onshore wind, but there’s still reasons to be hopeful

At Thrive, we recognise the important role battery storage has to play and are busy building our second project &#8211; a 20 MW site &#8211; in Bristol.
Read more about the background to the project (it involves a campaign to stop 48 diesel generators being built near a local nursery school!) and what it means for net zero in <a href="https://www.positive.news/society/a-key-piece-of-the-puzzle-for-a-more-energy-secure-uk-storage-and-more-of-it/" target="_blank" rel="noopener">our article with Positive News.</a>

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Wicken

Thrive’s Managing Director, Matthew, and Investment Manager, Tom, sat down with Positive News to talk about our battery projects and why they are so critical to the energy system of the future.

A key piece of the puzzle for a more energy-secure UK? More storage!

The reserve is located near our Drumduff wind farm, so we were thrilled to be invited to the opening of the boardwalk extension, which our site helped to fund. As part of the event, NatureScot invited some local schoolchildren down to cut the hand-crafted ribbon and it was fantastic to see how engaged and excited they were to be exploring the natural area.

The funding helped to extend the existing boardwalk by 170 metres, creating more paths and links for the local community and visitors to enjoy. There was also a lot of support from local volunteers, including Scotland’s Rural College students from Oatridge, who lay over a thousand anti-slip strips. NatureScot is now planning a second phase, which will see the boardwalk extended a further 280 metres this year.
Made up of raised bogs, the nature reserve plays an important role in reducing carbon emissions. This is because each raised bog contains 1,000 years’ worth of accumulated plant material that can’t rot down – also known as peat. Peat contains a considerable amount of carbon and so, to prevent it being released into the atmosphere, the reserve must be kept waterlogged.
Co-owned by nearby renewable energy developer, GreenPower, Drumduff wind farm is made up of three turbines and built on an old, disused open cast coal mine to the north of Blackridge in West Lothian, Scotland. At 6 MW, it has the capacity to generate enough renewable electricity to meet the annual demand of over 5,000 homes.

We took a trip up to Scotland to see how funding from our Drumduff wind farm is being put to good use.

Return to the wild: Funding future exploration at Blawhorn Moss National Nature Reserve

I had a great time while I was there, catching up with various industry contacts, attending a dinner at the Hawthorn Club – an international network for women working within the energy industry – and speaking on an alternative funding panel at the Energy Storage Summit. It was fantastic to hear about all the innovation and progress happening within the sector and a real buzz to be back meeting people in the city again.
Because of this, I’m starting the week by catching up with my team and reviewing the generation figures across our portfolio. We currently fund, own and operate 22 clean energy projects and it’s been a very windy week. This means figures are particularly high – especially for our wind farms – and I need to make sure it’s reflected in our financial modelling. This is what helps us to make important investment decisions, mapping all the cash flows and financing on a project-by-project basis.
The Intergovernmental Panel on Climate Change (IPCC) has published its second report into global climate change and it paints a bleak picture. At Thrive, we’ve been building renewable projects since 1994 so we’re very much focused on action. It will be interesting to see how the story unfolds over the week and whether there’s a clear roadmap for next steps.
On Tuesday, I have various calls in the diary – I’m particularly looking forward to one with a community group we’re working with. We engage with local communities in lots of different ways and it’s an exciting and rewarding part of the job as I know we’re working towards a common goal of reducing carbon emissions and tackling climate change. Once built, the project will not only help add more renewable capacity to the local and national grid but will also deliver multiple benefits for the community.
Tuesday and Wednesday is spent in the office. It feels good to reconnect with colleagues in person after a week out and about, and one of my team is travelling in especially from London. We share a building with our friends at Triodos Bank, it’s BREEAM certified and one of the most sustainable in Bristol, which helps to keep me inspired. Today I am following up on invites to Regen’s Green Energy Awards at the end of the month. We’re one of the sponsors for the event and I’m really looking forward to hosting a table alongside our MD, Matthew. With the IPCC report still fresh, it’s nice to look forward to an event that focuses more on the positive and showcases the achievements within the sector.
Thursday and Friday flies by. I’m going to be speaking on a webinar with smart grid technology company, GridBeyond, in a few weeks which is exciting. I have a planning call alongside the other panellists. I’m going to be drawing on Thrive’s experience of funding and building our first 5MW battery project – Wicken – which is now operational, as well as our 20MW battery that is currently in construction at Feeder Road in Bristol. Storage is going to be critical for the UK’s clean energy future, helping to balance out the variability of natural resources such as sun and wind. It’s something that the industry is really focused on right now as part of our transition from fossil fuels, so it’s important for Thrive to be represented.
As Friday draws to a close, there’s lots to look forward to. Next week is International Women’s Day and a group of us are getting together to join the Institute of Directors (IODs) women’s leadership conference, with renowned ethologist and activist Dr Jane Goodall DBE as one of the keynote speakers. It’s also B Corp month so we’ll be inviting our stakeholders to get #BehindtheB and find out what being a B Corp is really about. I’ll finish it there!

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Monika Paplaczyk Thrive Renewables

Our Investment Director, Monika, gives you a glimpse into what it’s really like to work for a renewable energy company.

#BehindTheB: A week in the life of our Investment Director

While the nature of our business means that we’re environmentally conscious, we know that there’s always more we can do to continue reducing our impact. We began the B Corp certification process in 2020, joining the 600+ global B Corps worldwide prioritising environmental and social justice. In fact, we went one step further and were awarded ‘Best in the World’ status last year, meaning that we score within the top 5% of all global B Corps for our commitment to the environment.
To celebrate B Corp Month, we’re inviting you #BehindtheB – giving you a glimpse into why we do what we do and how B Corps such as Thrive are bringing benefits to all.
Here’s what some of our people have to say about working for a B Corp and what it means to them.
<img loading="lazy" decoding="async" class="aligncenter wp-image-6605 size-large" src="/wp-content/uploads/2024/05/Matthew-B-Corp-TW-1024x576.png" alt="" width="1024" height="576" srcset="https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2024/05/Matthew-B-Corp-TW-1024x576.png 1024w, https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2024/05/Matthew-B-Corp-TW-300x169.png 300w, https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2024/05/Matthew-B-Corp-TW-768x432.png 768w, https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2024/05/Matthew-B-Corp-TW.png 1200w" sizes="auto, (max-width: 1024px) 100vw, 1024px" />
<img loading="lazy" decoding="async" class="aligncenter wp-image-6604 size-large" src="/wp-content/uploads/2024/05/Louise-B-Corp-TW-1024x576.png" alt="" width="1024" height="576" srcset="https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2024/05/Louise-B-Corp-TW-1024x576.png 1024w, https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2024/05/Louise-B-Corp-TW-300x169.png 300w, https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2024/05/Louise-B-Corp-TW-768x432.png 768w, https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2024/05/Louise-B-Corp-TW.png 1200w" sizes="auto, (max-width: 1024px) 100vw, 1024px" />
<img loading="lazy" decoding="async" class="aligncenter wp-image-6601 size-large" src="/wp-content/uploads/2024/05/Monika-B-Corp-TW-1024x576.png" alt="" width="1024" height="576" srcset="https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2024/05/Monika-B-Corp-TW-1024x576.png 1024w, https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2024/05/Monika-B-Corp-TW-300x169.png 300w, https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2024/05/Monika-B-Corp-TW-768x432.png 768w, https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2024/05/Monika-B-Corp-TW.png 1200w" sizes="auto, (max-width: 1024px) 100vw, 1024px" />
<img loading="lazy" decoding="async" class="aligncenter wp-image-6603 size-large" src="/wp-content/uploads/2024/05/Jack-B-Corp-TW-1024x576.png" alt="" width="1024" height="576" srcset="https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2024/05/Jack-B-Corp-TW-1024x576.png 1024w, https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2024/05/Jack-B-Corp-TW-300x169.png 300w, https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2024/05/Jack-B-Corp-TW-768x432.png 768w, https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2024/05/Jack-B-Corp-TW.png 1200w" sizes="auto, (max-width: 1024px) 100vw, 1024px" />
<img loading="lazy" decoding="async" class="aligncenter wp-image-6602 size-large" src="/wp-content/uploads/2024/05/Alex-B-Corp-TW-1024x576.png" alt="" width="1024" height="576" srcset="https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2024/05/Alex-B-Corp-TW-1024x576.png 1024w, https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2024/05/Alex-B-Corp-TW-300x169.png 300w, https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2024/05/Alex-B-Corp-TW-768x432.png 768w, https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2024/05/Alex-B-Corp-TW.png 1200w" sizes="auto, (max-width: 1024px) 100vw, 1024px" />
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Want to find out more about B Corp or join the movement? Find out more here: <a href="https://bcorporation.uk/">https://bcorporation.uk/</a>

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To celebrate B Corp month, we’re inviting you behind the scenes at Thrive to find out why we’re choosing to put people and the planet first. 

#BehindtheB: Stories from a renewable energy company

The scheme works by providing clean energy generators with a stable, pre-agreed price for 15 years, ultimately providing the revenue certainty needed to kickstart renewable development. Wind, solar or other renewable projects can bid in the auction and the winners are those who offer to supply at the lowest price – the ‘strike price’. As well as supporting the renewables industry, these price mechanisms protect bill payers from price shocks and ensure they get the best value for money as the cost of renewables continues to decrease. In instances where prices are higher than the ‘strike price’, the generators pay back, with wind and solar farms paying £157 million to households in the final quarter of 2021 as prices spiked due to the ongoing global gas crisis.
Announcing the move, the UK’s Business and Energy Secretary Kwasi Kwarteng said “We are hitting the accelerator on domestic electricity production to boost energy security, attract private investment and create jobs in our industrial heartlands. The more clean, cheap and secure power we generate at home, the less exposed we will be to expensive gas prices set by international markets.”
Confirmation that CfD auctions will take place annually is especially important given the volatile state of the global energy market, with the transition to renewables helping to end the UK’s reliance on harmful and expensive fossil fuels. It provides renewable developers with price certainty, but are yearly auctions enough to build the new capacity required to reach net zero?
<h3>What else is needed?</h3>
Moving to annual CfD auctions is a major step forward, and there is huge appetite to build more projects, accelerate the transition to net zero and protect ourselves from future price shocks. But there are still obstacles to getting projects built, for example the planning policies surrounding certain clean technologies in England.
To stay in reach of the current targets, industry body RenewableUK suggests that we need to <a href="https://www.renewableuk.com/news/583055/Industry-urges-Government-to-set-new-target-to-double-UK-onshore-wind-capacity-by-2030.htm">double the current onshore wind capacity to 30 GW by 2030.</a> This would save around 6 million tonnes of carbon emissions a year, the equivalent of removing 1.1 million cars from the road annually. But to achieve this, we need to see the government overhaul the planning process so that developers can better work with local authorities and communities.
Currently, new onshore wind applications in England must demonstrate that the project is sited within an area designated for wind development and is stated so in the local plan. <a href="https://policy.friendsoftheearth.uk/reports/onshore-wind-its-delivery-being-hampered-lack-identified-areas-local-plans">Analysis by Friends of the Earth</a> in 2019 found that – of the 20 sample plans – 12 did not identify suitable areas for wind development, stating either that they are not identifying such areas or will leave it for prospective Neighbourhood Plans to identify local areas or sites. The consequence of this is that there has been little deployment of new onshore wind since the changes were introduced in 2015.
As part of the government’s CfD announcement in November, onshore wind and solar were included within a modest allocation of £10 million, despite strong public support for the technology. In fact, new polling conducted by Survation and published by RenewableUK revealed that 72% want the Government to set a long-term target for onshore wind. To overcome the planning obstacles and small CfD allocation, developers could focus instead on the repowering of existing wind farms. There is also a conversation to be had about whether the industry should be able to run without the need for CfDs at all, especially as they are only viable for larger projects. We believe that small to medium scale, localised clean energy projects are just as important. In fact, a third of onshore renewables are below 20MW<a href="#_ftn1" name="_ftnref1">[1]</a>, so how can we ensure these still get built?
We are working with other business models alongside the CfDs, such as corporate power purchase agreements or ‘direct wire’ arrangements where solar and wind projects are installed on site at an industrial host. Routes like ‘direct wire’ not only present businesses with a solution to managing energy costs in a volatile marketplace, but offer environmental incentives too, as they benefit from the renewable energy generated on site. Developers could also take a hybrid approach, which would require them to bid for part of their generation into the CfD and part exposure to the market, creating a ‘price hedge’ at a portfolio or project level. Establishing additional options for routes to market will ultimately accelerate the much-needed deployment of new renewable electricity generation projects.
While annual auctions will absolutely help with providing certainty around new renewable development, more must and can be done to ensure enough capacity is built for net zero, especially as the UKs electricity demand is projected to increase by almost 40% by 2035. Investing in clean technologies is the fastest, cheapest way to end our reliance on fossil fuels.
<a href="#_ftnref1" name="_ftn1">[1]</a> Renewable energy planning database March 2020.  <a href="https://www.gov.uk/government/publications/renewable-energy-planning-database-monthly-extract">https://www.gov.uk/government/publications/renewable-energy-planning-database-monthly-extract</a>

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The government recently announced that it will move to annual CfD auctions from 2023.

Annual clean energy auctions provide certainty needed to roll out renewables

The site has the capacity to deliver 1.5 hours or 30 MWh of electricity to the national and local grid, connecting enough capacity to power <a href="https://www.renewableuk.com/page/UKWEDExplained" target="_blank" rel="noopener">14,771 typical UK homes</a>.
The project brings together a number of Bristol-based businesses including developer, Aura Power, as well as renewables consultancy, Everoze, which is acting as a technical advisor.
G2 Energy has been awarded the engineering, procurement and construction (EPC) contract, while Trina Storage will be supplying the physical battery system.

With gas prices soaring, storage projects like Feeder Road have a huge role to play in the future energy system, ensuring the electricity from renewable sources such as wind and solar, which is significantly cheaper than gas, is available at peak times when it is most needed.
Battery projects work by storing electricity when it’s at its cheapest and most abundant – for example, when the wind is blowing or sun is shining – and releasing it when consumer demand peaks. Once operational, Feeder Road will take part in half-hourly capacity market auctions, providing frequency response and balancing services to the National Grid and local distribution network. This need has historically been met by gas and diesel fuelled power stations.
Feeder Road is the second battery project in Thrive’s portfolio, with our 5MW site – Wicken – commissioned in December and already delivering 1.49 hours or 7.45MWh of electricity to the national and local electricity grid. Our portfolio now spans the clean technology mix, featuring onshore wind, hydro, solar, geothermal and renewable heat in addition to Wicken and Feeder Road.

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Contracts have now been signed for the construction and delivery of the battery and associated works, with construction expected to start in the Spring.

Thrive completes 20MW battery deal – our largest to date

However, new analysis from Carbon Brief has found that energy bills are nearly £2.5 billion higher than they would have been if certain climate policies had been pushed through – such as allowing new onshore wind to be built in England and keeping the zero-carbon homes standard.
But why are gas prices having such a huge impact on the UK energy market and how can investing in clean technologies help lower prices?
<h3>How the energy market works </h3>
Energy suppliers in the UK buy the electricity they sell in bulk from the wholesale market. The reason that gas has such an impact on electricity bills is because we still use it to generate a third of our electricity. Suppliers and generators trade electricity in half-hourly auctions, with the National Grid responsible for matching supply and demand by accepting bids or offers depending on whether they need to increase or reduce electricity generation. Bids are stacked in order of the least expensive generators to provide the power until the demand is met.
As gas is one of the more expensive ways to generate power, and is quite flexible in the amount it generates, gas plant tends to the be the last plant in the auction and therefore set the price.
Since last year, we’ve seen a worldwide shortage of gas supplies, which in turn has caused wholesale gas prices to rise to unprecedented levels. Alongside a shortage in supply, there’s been a perfect storm of issues – a combination of extreme weather, demand growth unexpectedly high post Covid and a lack of storage capacity, particularly in the UK.
Now we’re seeing soaring wholesale gas prices have a ripple effect on electricity prices, with suppliers having to increase consumer bills. The UK energy regulator – Ofgem – has increased the energy price cap, with more changes expected in the coming month.
<h3>What are the solutions to curb increasing prices?</h3>
While there have been calls to cut green levies, new data is showing the positive impact these programmes are having. In fact, the government’s Contract for Difference (CfD) scheme – which aims to support renewable growth by providing generators with a stable, pre-agreed price for 15 years – recorded positive returns at the end of last year. Wholesale electricity prices were so high in July to September 2021 that they surpassed CfD strike prices, and the payments reversed direction for the first time, returning £39.2 million in funds.
While this proves that renewables helps curb energy price rises, in the longer term it can be argued that the market should be able to run without the need for CfDs, especially as they are unlikely to cater for smaller, sub 5 MW projects.
There are other business models which support the renewable growth needed to end our reliance on gas in the UK. This includes corporate power purchase agreements, which allow businesses to purchase electricity directly from an energy generator at a fixed price, and direct wire arrangements. A direct wire arrangement is when a clean energy project – for example, a wind turbine or rooftop solar PV array &#8211; is built within the commercial premises, with the host business directly consuming the clean energy it generates.
Alongside alternative business models, we also need to see substantial growth in the UK’s storage capacity, which will help balance out the variability of natural resources such as sun and wind. In December, we commissioned our first battery project near Milton Keynes, a 5MW site that is delivering 1.49 hours of electricity to the national and local electricity grid, while we also have a 20MW site in Bristol that will be commissioned later this year.  Electricity storage, be it battery, pumped storage or dammed hydro provide sustainable solutions to balance demand and supply, further reducing our reliance on gas.
The UKs electricity demand is projected to increase by almost 40% by 2035<a href="#_ftn1" name="_ftnref1">[1]</a> as heating and transport transitions from fossil fuels to electricity. This creates an opportunity to deliver 60 to 80GW of renewable electricity generation capacity.
The benefits of investing in clean technologies are vast, not least because renewables are much faster to deploy than the alternatives. For example, in the two years (2016 and 2017) spent moving soil and laying the foundations at Hinkley Point C, enough new renewable capacity was commissioned to deliver power equivalent to the nuclear site’s total planned generation (22GWh annually) which is due to commence generation in 2026.
Ultimately, the way to avoid energy price shocks in future is to keep supporting the roll-out of clean technologies and implement stronger policies on energy efficiency, reducing the amount of energy we need. In doing so, we not only reduce consumer bills but build a solid path towards net zero.
<a href="#_ftnref1" name="_ftn1">[1]</a> https://www.theguardian.com/business/2021/oct/05/the-uk-2035-net-zero-electricity-target-how-could-it-be-achieved

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TIDE &amp; ISE 2018

Renewables are faster to deploy than fossil fuels and technologies such as battery storage help balance the variability of wind and solar.

Energy prices explained: How clean technologies can help reduce bills

As some of the biggest emitters in the UK, this is certainly the case for businesses. In fact, according to a report from Sky and WWF, companies are responsible for two-thirds of the UK’s domestic land-based emissions every year, with large businesses accounting for the largest proportion of these. It suggests that, unless all large businesses in the UK draw up and implement plans to decarbonise in line with the 1.5C trajectory within the next two years, we risk missing our long-term net zero targets.
Of course, some businesses will have more work to do than others but it’s important to remember that being environmentally and socially conscious is a continuous journey and, importantly, one that your customers, shareholders and employees will thank you for embarking on. Below we explore some of our green new year’s resolutions for companies looking to prioritise sustainability in 2022.
<h3>1. Develop a net zero strategy</h3>
For all of us, the race to zero is now unavoidable. In fact, in the words of Mark Carney: “Firms that adjust their business models to the transition to net zero will be rewarded handsomely. Those that fail to adapt will cease to exist.”
When making any net zero commitments, businesses must first evaluate the different kinds of carbon emissions they create as part of their own operations, as well as the wider supply chain. Without collecting adequate data, you will be unable to set realistic targets or track your progress in meeting them.
For example, we calculated that – in 2020 – our direct carbon emissions (scopes 1 and 2) was 2.6 tonnes, compared to the average UK citizen which has a carbon footprint of 10.4 tonnes of carbon emissions per year. While this is already low, we are now working to calculate our indirect emissions (scope 3) coming from the construction and operation of our renewable energy projects. Once this is calculated, we will be reviewing our overall figures again to ensure we are taking the reduction and offset measures required to be net zero by 2030.
For many businesses, making changes under scope 1 and 2 is the easiest way to start reducing emissions and there are many resources available to support you with this, including the <a href="https://unfccc.int/climate-action/race-to-zero-campaign">United Nations&#8217; Race to Zero campaign.</a>
<h3>2. Join the B Corp community</h3>
B Corporations are businesses that meet the highest standards of social and environmental performance, public transparency, and corporate accountability to balance profit and purpose. Alongside establishing yourself as a true leader in your market, there are multiple benefits to certification: committed and motivated employees, increased customer loyalty and higher levels of innovation.
As one of the UK’s first mission driven businesses, Thrive was founded 26 years ago to help power the UK’s transition to clean energy, with the ultimate aim of reducing carbon dioxide pollution to avoid dangerous climate change. We’re proud to say that we certified as a B Corp at the start of 2021 and haven’t looked back since. You can find out more information about the movement and how to start the certification process <a href="https://bcorporation.uk/">here</a>.
<h3>3. Switch to 100% renewable energy or host an on-site renewable project </h3>
Switching to 100% renewable energy can go a long way in helping you reach your net zero targets, as well as provide significant bottom line and reputational benefits.
While there are many renewable energy suppliers in the UK you could engage with, it’s worth noting that you could also benefit from renewable power generated directly on-site. Hosting your own renewable project – for example, a wind turbine or rooftop solar array – can help you manage your energy costs in an increasingly volatile marketplace.
As seen recently, fossil fuels are often subject to extreme changes in supply and demand. Using renewable sources of electricity is therefore a way to provide the stability needed, giving you the opportunity to secure long-term, consistent energy prices which are typically cheaper than connecting to the grid.
<h3>4. Improve your energy efficiency</h3>
Using energy wisely is another way to cut your carbon footprint. There are plenty of things you can introduce in the workplace to ensure you consume energy more smartly. For example, switching your lights to LEDs and ensuring you turn your technology off at the end of the day. Although they sound small, these changes are all important steps in reducing your total emissions.
<h3>5. Offer staff green incentives</h3>
When it comes to ensuring your green initiatives are followed, it’s critical that you engage your workforce as early in the process as possible. They need to understand what is expected of them and why it’s important – not only in the context of the business but as part of a wider sustainable society.
You can further motivate your employees by incentivising green alternatives. For example, we offer a bike to work scheme and are also signed up to Climate Perks – a scheme that enables us to offer paid &#8216;journey days&#8217; to empower staff to choose low-carbon holiday travel.
Businesses are now facing increasing pressure from consumers, investors and employees to look beyond profit and recognise the power of purpose. And, while it’s really positive to see the number of UK companies making sustainability a priority, there’s always more that can be done. True sustainability is a journey, not a destination.

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Looking to become more sustainable in 2022? Here’s some of our top tips to help further reduce your business’ impact in the next 12 months and beyond.

New year, same planet: Our green resolutions for conscious businesses

It was great to see first-hand the impressive work that goes into constructing a rooftop solar array, with small-scale decentralised energy generation such as this forming a key part of the UK’s net zero journey.
There is a strong business case for on-site renewables – not only does it help get more renewable capacity built in the UK, but the host company will benefit directly from the clean electricity it produces.
At this particular site, the rooftop solar PV panels will be used to generate around one third of the company’s total electricity needs with any surplus exported to the local electricity grid, reducing losses.

While this particular project takes its power from the sun, other businesses could also look at technologies such as onshore wind and battery storage or co-locating a mix of different technologies. As we’ve seen with the recent gas crisis in Europe, fossil fuel prices can be extremely volatile. Developing an on-site wind turbine, for example, can help businesses to better manage their energy costs at the same time as improving their environmental footprint.
What makes a premises suitable? As you’ll see from the images, a large rooftop for solar PV is advantageous but all you really need is access to good levels of natural resource. For example, a location with abundant wind.

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We joined the team from Olympus Power as they completed construction of an on-site solar PV project for a manufacturing company in Birmingham. 

On top of a 1MW solar PV project

It was great to visit the newly operational solar farm last week, with members of the Thrive team hosting local councillors from Great Dunmow Town Council and Essex County Council. As well as taking them on a tour of the site, we were able to share more insight into how solar farms like Dunmow are helping deliver a cleaner, fairer future and contributing to the UK’s wider net zero goals.  
Also visiting the site were members of Uttlesford Community Energy and Community Energy Pathways, who are helping us to shape how community ownership could work on the project. Thrive has pledged to offer the local community an opportunity to invest in a 10% stake.  
Dunmow can generate up to 14,500 MWh of clean electricity per year, the equivalent of powering around 4,400 average UK homes [2], and delivering emissions reductions of 6,337 tCO2e [3].  
The project has a biodiversity management plan in place to support nature on site, with measures such as wildflower grassland creation and hedgerow enhancement expected to result in a significant ‘biodiversity net gain’. As these habitats begin to establish, we look forward to seeing more wildlife attracted to the site. Thrive is also working with a biodiversity consultancy to plan additional voluntary measures to further enhance our commitments. 
The site was acquired from the original developer, PS Renewables, in May and 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.

[1] Based on June generation figure of 2,230 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 (275 kWh for 1 month) (<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>) 
[2] 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>) 
[3] 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/" target="_blank" rel="noopener">https://www.renewableuk.com/energypulse/ukwed/</a>

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Our 10MW ground mount solar farm in Essex is now generating.

Clear skies, longer days and more sunlight – great news for Dunmow!

Shared ownership enables communities to take a financial stake in a commercially owned renewable energy project – allowing local people to benefit directly from the project’s revenues and take ownership of their local energy supply. It’s a hot topic right now &#8211; the government are currently consulting on how we can accelerate the uptake of shared ownership as part of a fair transition to a clean energy system.  
Hear more about how shared ownership works in practice and who it benefits in <a href="https://www.communityenergyengland.org/news/why-shared-ownership-can-be-a-win-win-for-both-developers-and-communities" target="_blank" rel="noopener">our blog for Community Energy England.</a>

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Find out how shared ownership has the potential to promote a faster and fairer rollout of clean power.  

Shared ownership: a win-win for both developers and communities?

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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