Cookies are small text files that are placed on your device by websites that you visit. If you click accept, we will use cookies that track your activity across other websites, help improve your browsing experience and serve you personalised content.
If you click decline, we will only use essential cookies that are required for our website to work properly. For more information or to change your preferences, please read our Cookie policy <a href="/cookie-policy/">cookie policy</a>.

Find out more

Link

Investors

Dev Links

Buy and sell shares

Shareholders

Bonds

Overview

2025 annual report

2025 half year report

Projects

Quick Links

From South Cornwall to Orkney, from onshore wind and solar to geothermal, our diverse portfolio of clean energy projects spans the whole of the UK.

Operational

Under construction

Legacy

Impact

As one of the UK’s highest scoring B Corps, we are committed to using our business as a force for good.

Our approach

Community support

30 years Thriving

Project funding

Thrive brings together flexible funding models, proven technologies, and problem-solving people to turn your clean energy project into a reality.

Funding for

Case studies

About

Thrive exists to tackle the climate emergency, working with investors, developers, businesses and communities to fund, build and operate clean energy projects since 1994.

About us

Governance

View all

News

Find out more about our new projects, events and industry insight. 

News 

Useful Documents

News and insight

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/" target="_blank" rel="noopener">Take 2 mins to learn more</a>.

Sign up to our newsletter to be one of the first to hear about new projects, events and industry insight. Your data will be processed in line with Thrive’s privacy policy, available <a href="/privacy-policy/">here</a>.

Newsletter - thank you

Be part of the clean energy movement

Sign up to our newsletter to be one of the first to hear about new projects, events and industry insight. Your data will be processed in line with Thrive’s privacy policy, available <a href="/privacy-policy/">here</a>.

kessingland-2

kessingland

Latest news

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.
&nbsp;
&nbsp;
[1] Impact Portfolio describing Thrive’s share of projects owned plus 
the projects Thrive is funding (adjusted proportionally where Thrive’s 
funding is a minority of a project’s overall funding).
[2] Homes equivalent is calculated using the most recent statistics 
from DESNZ showing that annual GB average domestic 
household consumption is 3,323kWh (as of December 2025, 
updated annually). <a href="https://assets.publishing.service.gov.uk/media/6945728a033693d5d50eb83d/subnational-electricity-and-gas-consumption-summary-report-2024.pdf">Subnational Electricity and Gas Consumption Statistics, 2024</a>.
Average residents per household 2.35 (<a href="https://www.ons.gov.uk/peoplepopulationandcommunity/birthsdeathsandmarriages/families/bulletins/familiesandhouseholds/2024">Families and households in the UK &#8211; Office for National Statistics</a>), Population of Southport is 
93,902 (<a href="https://www.ons.gov.uk/peoplepopulationandcommunity/populationandmigration/populationestimates/datasets/understandingtownsinenglandandwalespopulationanddemography">Understanding towns in England and Wales: population and demography &#8211; Office for National Statistics</a>).
[3] Carbon reduction is calculated by multiplying the total amount of 
renewable electricity generated by Thrive’s impact portfolio each year by 
the number of tonnes of carbon which fossil fuels would have produced 
to generate the same amount of electricity. We have used DESNZ’s “all 
non-renewable fuels” emissions statistic of 448 tonnes of carbon dioxide 
per GWh of electricity supplied from the Digest of UK Energy Statistics 
(July 2025) Table 5.14 (“Estimated carbon dioxide emissions from 
electricity supplied”). Additionally, we include a conservative 
estimate of the carbon saved through operating our BESS projects.
[4] This includes £5.1m set-off against financial assets repaid.

beavers-47

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

Featured

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.

Newsletter CTA

20220914_144308-2

20220914_144308

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

tide-ise-2018-8

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.

caton-winter-2

caton winter 2

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.

img_2813

IMG_2813

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

Space heating currently represents around one third of the UK’s total greenhouse gas emissions, with 45% of the UK’s energy consumption a result of making our buildings warmer<a href="#_ftn1" name="_ftnref1">[1]</a>.
Following the successful repayment of the 2019 bond, we have now invested a further £350,000 into Renewable Heat Holdings Limited (RHHL) so that the company can continue to reduce natural gas usage in care homes and additionally install ground source heat pumps in new build domestic properties.
Ground source heat pumps significantly reduce our reliance on burning fossil fuels by using underground pipes to extract natural heat from the ground to heat radiators, underfloor or air systems and water. The Government’s recently announced Heat and Buildings strategy sets out an ambition for 600,000 devices to be installed each year by 2028 in replace of gas boilers.

Established in 2018, RHHL owns and operates over 70 projects with a combined capacity of 11.55MW, generating more than 17,000MWh of renewable heat per year for new-build retirement homes.
Thrive’s investment forms part of a new £3 million seven-year bond, promoted by Triodos Bank UK Ltd, which will provide the working capital to grow the design and installation business of Rendesco Limited, a sister company, by expanding its team and infrastructure. The company’s growth efforts follow the announcement of the Future Homes Standard – planned to come into effect in 2025 to ensure that new homes in England are built with low-carbon heating systems and high levels of efficiency.
In addition to contributing to the UK’s net zero goals, it could also provide a number of green jobs across the UK. Rendesco Limited expects to generate over 50 new jobs to deliver the planned growth.

<a href="#_ftnref1" name="_ftn1">[1]</a> Uncomfortable Home Truths: why Britain urgently needs a low carbon heat strategy, Policy Connect

rendesco_website

We’ve committed to a new stage of investment in Rendesco, a company which designs, installs and maintains ground source heat pumps.

New renewable heat investment for warm and cosy homes

Arriving for the three-day exhibition at the NEC, it was brilliant to feel the buzz of live events again and see so many like-minded businesses together in the same room, sharing their insights and celebrating some of the technologies at the forefront of the clean energy transition.
Alongside the exhibition stands, Solar &amp; Storage Live had a full agenda of talks in one of its three on-site theatres. We were pleased to host a discussion on ESG &amp; responsible finance in the Commercial and Industrial theatre, with our MD Matthew Clayton as the moderator and joined by Thrive’s Investment Director, Monika Paplaczyk, as well as Chloe Hood, Project Developer and Community Liaison Manager at Aura Power, and Simon Nicholls, Managing Director of Olympus Power.
We discussed the different funding models available to developers when building new solar and storage projects in the UK, and how we have worked with both Aura and Olympus to add new capacity to the grid over the last 18 months.
Thanks to everyone that came and saw us at our stand or attended our panel session on responsible finance. We hope to see you again next year!

stand-1

Stand 1

We joined the 150+ exhibitors from across the solar, storage & EV industries to showcase how we’re helping to power a clean energy system.

Celebrating clean energy at Solar & Storage Live

The battery will provide important flexibility to the UK energy system, as the country looks at how it can scale up renewable deployment in the wake of COP26. Helping to balance the variability that comes from natural sources such as wind and solar, the battery is charged when clean energy is abundant and exports it back to the grid during peak times.
Battery projects such as Wicken will play a supporting role in the UK’s efforts to decarbonise the electricity system by 2035, while we are also invested in a 20MW project at Feeder Road in Bristol – which is expected to commence operations in 2022.

wicken

Wicken

Wicken is now fully operational and providing much needed flexibility to the grid as we work towards a zero-carbon future.

First battery storage project commissioned

With the support of Centre for Sustainable Energy (CSE), we have now awarded over £29,000 in grants to local communities, helping them to make shared buildings more accessible through energy efficiency and sustainability improvements.
As part of the process, applicants completed a full energy survey of the building using guidance from CSE, which helped to identify potential improvements, including zero-cost measures, and calculate carbon and cost savings. From insulation and draught proofing to improved heating measures and LED lighting, we have awarded up to £4k in grants each to:
<ul>
<li>Alfriston War Memorial Hall, Alfriston – East Sussex</li>
<li>Pill Village Hall &amp; Community Centre, Pill – Bristol</li>
<li>St Mary’s Centre, Whicam – Newcastle upon Tyne</li>
<li>Bedfield &amp; Monk Soham Community Club, Bedfield – Suffolk</li>
<li>Impact Initiatives, Brighton</li>
<li>Halton Community Association, Halton – Lancaster</li>
<li>St Peter&#8217;s Church, March – Cambridgeshire</li>
<li>Shutlanger Village Hall Charity, Shutlanger – Northamptonshire</li>
<li>Strichen Community Park, Strichen – Fraserburgh</li>
<li>Holy Trinity Nailsea Church, Nailsea – Bristol</li>
</ul>

Due to the Covid-19 pandemic, last year we repurposed our Community Benefit Programme and added savings made on business travel to meet the urgent needs of the communities who host our projects – donating £39,050 to organisations fighting poverty, loneliness and supporting education. This included foodbanks, a care home to provide iPads to residents enabling them to speak to their loved ones, a baby bank providing essentials to new families experiencing poverty, and a local school to support home learning.
With round five included, we’ve awarded 41 grants to 33 buildings, totalling close to £120,000. These improvements save 68 tonnes of carbon dioxide each year.

caton-moor

Caton Moor

We’re awarding over £29,000 in grants to make community buildings warm & cosy this Christmas and beyond. 

Thrive’s Community Benefit Programme reports record number of entries

The #FacesoftheEnergyTransition campaign is being supported by the COP26 and Race to Zero digital channels, with Monika discussing the huge influence her first All-Energy conference had on her career, as well as her hopes for a clean energy future.
Watch Monika’s video in full below, with special thanks to Regen and the other companies supporting the campaign including Energy UK, The Association for Decentralised Energy, Energy Networks Association, Global Wind Energy Council (GWEC), REA, RenewableUK, Solar Energy UK, Community Energy England and Electricity Storage Network.

Monika Paplaczyk, Investment Director, Thrive Renewables

monika-paplaczyk-thrive-renewables

Monika Paplaczyk Thrive Renewables

Faces of the Energy Transition

thrive-renewables-open-day-in-avonmouth-september-2022-10

Thrive renewables open day in Avonmouth. September 2022.

Hear from our investment director, Monika Paplacyzk, about her journey within the renewables sector as part of a new campaign showcasing some of the inspiring women behind the energy transition.

Joining the #FacesoftheEnergyTransition campaign

It was great to be able to reconnect with likeminded businesses and celebrate all the work that has gone into shifting the business dial towards better environmental and social performance over the last 12 months. Now in its 11th year, the BusinessGreen Leaders Awards aims to recognise the inspiring businesses and individuals driving the transition towards a sustainable net zero emission economy.
For more information on the awards and the lucky winners on the night, read BusinessGreen’s article <a href="https://www.businessgreen.com/news/4037548/businessgreen-leaders-awards-2021-winner">here</a>.

bgla2021_winner_esginvestoroftheyear

BGLA2021_Winner_ESGInvestoroftheYear

We headed to London to celebrate all the groundbreaking work happening within the sector.

Thrive wins coveted BusinessGreen Leaders Award

Due to the weather conditions during the first half of the year – Q2 2021 was one of the least windy on record – and also essential maintenance on some of our larger projects, there was a year-on-year reduction in the amount of electricity we generated.
Because of this, we have also reported lower financial results compared to the same period last year, with a half year operating profit of £0.9m on a turnover of £4.99m. Full details of Thrive’s financial performance and impact in 2020 can be downloaded via our <a href="/documents/2020-annual-report/">Annual Report</a>.
We are continuing to make the planned investment to our current portfolio and expect to see growth in the second half of the year. There has been good progress in the development, construction and commissioning of our new battery storage, geothermal and industrial solar rooftop investments during H1. In particular, the United Downs site in Cornwall has produced geothermal steam at 175°C, while high levels of lithium have been found in its geothermal waters – showing huge potential to supply electric vehicle battery manufacture.

Shareholders received a final dividend of 7p per share for 2020, which was paid in July 2021. We also successfully repaid the Thrive Renewables (Buchan) bond in July, where investments were used to fund two wind turbines at the Auchtygills and Clayfords farms in Aberdeenshire. Please note that past performance cannot be relied on as a guide to future returns.
In addition to reducing carbon emissions through our 20 renewable energy investments across the UK, we continue to have a positive impact both socially and environmentally. We recently announced <a href="/latest-news/news/reaching-net-zero-is-just-the-start/">our commitment to achieving net zero by 2030</a> as part of B Corp’s Climate Collective, while we were also featured on <a href="/latest-news/news/thrive-makes-b-corp-s-best-for-the-world-environment-list/">B Corp’s ‘Best for the World – Environment’ list</a>, which saw us score within the top 5% of all global B Corps based on our commitment to reducing our footprint.
In July, we launched round five of our <a href="/our-mission/community-benefit/">Community Benefit Programme</a> in conjunction with the Centre for Sustainable Energy, providing grants for energy efficiency and sustainability improvements for community buildings close to our clean energy projects.

img_0022

IMG_0022

Good progress on new battery storage, geothermal and industrial solar investments.

Thrive Renewables announces half year results for 2021

While it’s our business to help reduce the UK’s carbon footprint, it’s vitally important that we lead by example and reduce our own emissions too. That is why we’re pleased to share we’ve signed up to <a href="https://www.bcorpclimatecollective.org/net-zero-2030-1">‘Net Zero 2030’ as part of B Corp’s Climate Collective</a>.
We already have a number of significant measures in place to reduce our own environmental impact, which at 2.6 tonnes of carbon emissions for direct (scopes one and two) emissions in 2020, is low. The average UK citizen has a carbon footprint of 10.4 tCO2e per year<a href="#_ftn1" name="_ftnref1">[1]</a>. Thrive’s office, one of the greenest in Bristol, is BREEAM certified and has solar panels located on the roof. We use renewable electricity tariffs to supply all of our operational clean energy projects, while our staff can also benefit from both a bike to work scheme and the Climate Perks initiative, which incentivises low carbon holiday travel.
Our Community Benefit Programme saves a further 60 tonnes of carbon dioxide emissions each year. The voluntary scheme, which has been running since 2015, provides grants to communities living close to our renewable energy projects so that they can make energy efficiency and sustainability improvements to shared buildings such as village halls or community centres. Administered by the Centre for Sustainable Energy, the 60 tonne annual savings from this outweighs Thrive’s direct emissions, which we estimate puts us in a carbon negative position for scopes 1 &amp; 2.
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. You can read our Net Zero statement in full <a href="/impact/business-ethics/net-zero-2030/">here</a>.

To reach net zero, countries must balance the greenhouse gases released into the atmosphere with those taken out, with the UK pledging to achieve this by 2050 as part of the Paris Agreement. In April, Boris Johnson also enacted in law the world’s most ambitious climate target to date – reducing emissions by 78% by 2035.
Founded in 1994, we were one of the UK’s first purpose driven businesses, with a mission to power the transition to a sustainable energy future by helping people meaningfully connect with clean energy projects. We were also one of the first companies to fund ‘direct wire’ energy solutions for businesses – where they install solar or wind projects on site and benefit from the clean electricity generated, reducing their own carbon footprint.
Highlighting our commitment to the cause, Thrive certified as a B Corp in December 2020 with a score of 110.8, joining a community of businesses meeting the highest standards of social and environmental performance. In July this year, we were also included on B Corp’s ‘Best for the World – Environment’, which saw us score in the top 5% of global B Corps in this category.
&nbsp;
&nbsp;
<a href="#_ftnref1" name="_ftn1">[1]</a> <a href="https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/979588/Defra_UK_carbon_footprint_accessible_rev2_final.pdf">UK&#8217;s Carbon Footprint 1997 &#8211; 2018 (publishing.service.gov.uk)</a>, 2018, 703 million tCO2e p.a. divided by UK population of 67.9 million (2020) <a href="https://worldpopulationreview.com/countries/united-kingdom-population">United Kingdom Population 2021 (Demographics, Maps, Graphs) (worldpopulationreview.com)</a>

tide-ise-2018-6

We have joined B Corp’s Climate Collective and pledged to go net zero before the end of the decade – but our direct carbon emissions are already exceptionally low.

Reaching net zero is just the start!

We’d like to say a huge thank you to everyone who has taken part in our recent share offer with Triodos Bank. Together we raised a total of £2.5 million.
As ever, we’ve been busy expanding our fleet of wind and solar projects – most recently acquiring a 10MW ground mount solar farm in Essex that will help power over 4,400 average UK homes a year. At the end of last year, we acquired the rights to our biggest project yet – a 57MW onshore wind farm in the Scottish Borders. Plus, a 12.6MW wind farm in South Wales that will be capable of generating up to 40GWh of clean electricity a year once operational.
We’re also continuing our commitment to help more communities own local clean energy projects in their area. Recently, we launched a £40 million funding partnership with Better Society Capital – the UK’s leading social impact investor. The joint venture, Community Energy Catalyst (CEC), offers flexible funding for community groups to build their own clean energy projects, or take a stake in part of a larger project in their area. CEC recently invested in its first project, taking over Thrive&#8217;s £4 million loan to ATTIX CIC to fund the construction and operation of the 2.5MW community-owned wind farm in Kilbirnie, Scotland. Thrive initially invested into the project in 2023 and the loan was transferred to CEC in July 2025.

thrive-cut-4-00_02_51_12-still002

Thrive CUT 4.00_02_51_12.Still002

Thank you to everyone that supported us. 

£2.5 million raised in latest share offer

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>

untitled-design-19-1

Untitled design (19) (1)

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>

Latest news

Find out more about our new projects, events and industry insight.

Featured

02 Jun 2026

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

07 Feb 2022

31 Jan 2022

04 Jan 2022

08 Dec 2021

02 Dec 2021

26 Nov 2021

22 Nov 2021

28 Oct 2021

28 Oct 2021

29 Sep 2021

21 Sep 2021

17 Sep 2021