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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.
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&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.

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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

Featured

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

Newsletter CTA

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

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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>

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TIDE &amp; ISE 2018

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!

Playing a vital role in our vision for a cleaner, smarter energy system in the UK, the two turbines have delivered 24,412,500kWh of renewable electricity since commencing generation in the spring of 2015 – enough electricity to power 92,548 UK homes for a year and saving a total of 10,790 tonnes of carbon dioxide.

The bond, which provided investors with an annual return of 5.5% over a five-year period, reached its initial target raise of £3 million in just under four weeks in 2016 – the second fastest bond offer to close in Ethex’s history at the time. The success of the bond is testament to Thrive Renewables’ approach of investing in solid portfolios, honed over 25 years’ experience. Please note past performance cannot be relied on as a guide to future performance
In May, we published our <a href="/documents/2020-annual-report/">Annual Report </a>which highlighted the continued success of our wind and hydro projects, which have collectively generated nearly 150,000,000 kWh of renewable electricity – enough to power 40% of the UK’s electric vehicle journeys. As a result, this clean energy generation has removed the emission of 66,689 tonnes of carbon dioxide.
Last year the company deployed profits from the sale of two wind farms in 2019 into a range of new clean energy projects reflecting the future needs of the UK energy system, including new solar, battery storage and geothermal technologies.

auchtygils

Auchtygils

Buchan – Thrive Renewable’s first ever crowdfunded bond – supported the development and operation of two wind projects in Aberdeenshire.

Thrive’s first bond successfully repaid

The IPCC’s report paints a severe picture of our impact on the planet’s future but, despite claims of a “code red for humanity”, we must remember that hope is not lost. In fact, with human influence found to be the main driver (90%) of glacier decline since the 1990s, it proves that – with rapid systemic change – we can also heavily contribute to the climate solution.
The science highlights that if we take immediate action to reduce carbon emissions we can “yield rapid and sustained effects”, but this must be a collaborative effort and needs to be supported by widespread policy change and structure. Published just three months before COP26 – which will see countries come together to agree a comprehensive, ambitious and balanced plan for co-ordinated climate action in line with the Paris Agreement – the report has given governments, policymakers and other key decision makers a warning call to accelerate their efforts.
<h3>What is required to avoid climate catastrophe?</h3>
<h4>Immediate action</h4>
The IPCC has made it clear that time is precious and the longer we wait to eliminate fossil fuels – the worse it will get. In July, data from the Digest of UK Energy Statistics (DUKES) revealed that, for the first time ever, renewable energy sources generated more electricity than fossil fuels in 2020, increasing from 37% in 2019 to 43%. Wind power alone generated a record 24.1% of the UK’s electricity last year, with 13% coming from offshore projects and 11.1% from onshore projects – a significant step forward in the UK’s fight to reduce carbon emissions.
Despite this, growth in new renewable capacity slowed with just 1GW added in 2020, the lowest since 2007. We know this is currently not enough to meet the UK’s net zero targets, with RenewableUK predicting that we’ll need – for example – 90GW of offshore wind and 36GW of onshore wind by 2050. The same can be seen in solar too. While the UK is on track to double its solar capacity by 2030, we will need to treble it to 75GW-90GW if we are going to balance carbon emissions by 2050.
This is achievable, but further action is required to ensure we are able to mitigate the worst of the climate crisis. Most importantly, we need stable, forward-looking policies and action to support the integration of different renewable technologies onto the grid in the most cost-effective way possible.
<h4>Brave policy</h4>
Following its publication, Prime Minister Boris Johnson called the IPCC’s report “sober reading”, whilst Labour leader Sir Keir Starmer added that “the biggest threat we now face is not climate denial but climate delay”. We need our leaders to step forwards and be courageous – we have ambitious targets to meet but these will only be achieved if we have the policies in place to support it.
With this in mind, it will be interesting to learn the outcome of the government’s Contracts for Difference (CfD) scheme, which will provide revenue stability to renewable energy projects in the coming years. Given the previous removal of revenue support for new onshore wind we were really pleased that this was covered and look forward to seeing how the allocations are awarded.
There is no denying that we are still a long way away from reaching net zero but, while the IPCC’s report hammered home the stark realities of climate change, we remain optimistic. Positive changes can be made to reduce dangerous global warming – as long as we act together now. A change in mindset is needed across the board, from governments and policymakers right through to businesses and each one of us. It’s this collaboration – underpinned by smart, stable policy reform – which will be vital to the phasing out of fossil fuels.

thrive-renewables

Thrive Renewables

In a landmark report, the United Nation’s Intergovernmental Panel on Climate Change (IPCC) has confirmed that human activity is having an “unequivocal” impact on global warming, with a temperature increase of 1.5C now likely to be passed or temporarily reached by 2040.

IPCC report - The cause and the solution

Geothermal Engineering Ltd (GEL), the company behind UK’s first deep geothermal electricity power plant, has also announced that – alongside other partners – it has been trialling sustainable, zero carbon methods of removing the lithium from the fluid, so far managing to achieve a 95% extraction rate.

Lithium is a naturally occurring metal found around the world but is predominantly mined in South America and Australia, before being shipped to China for processing into battery-grade lithium. The final stage of the process then sees batteries sent to Europe to be installed into electric vehicles.
With the UK government announcing its plans to end the sale of new petrol and diesel cars in the UK by 2030, there is huge opportunity for renewable energies such as geothermal to support in lithium extraction and battery production.
The Faraday Institution, a government-backed body set up in 2017 to promote the battery industry, estimates UK demand for lithium could reach 59,000 tonnes a year of lithium carbonate equivalent by 2035, based on projected growth in domestic battery demand.

ud-10

UD 10

Third party testing at the United Downs site in Cornwall has revealed high levels of lithium, a vital component of electric vehicle batteries, in its geothermal waters.

United Downs: A milestone on the journey to local, zero carbon lithium production

The Loch a&#8217; Bhraoin project supported businesses in the area throughout its development and construction by using local contractors wherever possible. In addition, the turbine installed at Inverbroom was manufactured in Cumbria by Gilkes, who have been making hydro power turbines in the UK for over 100 years.

This 2MW project based in the Scottish Highlands is eligible for the Feed-In-Tariff (FIT). Despite operational challenges caused by the COVID-19 crisis which affected construction and supply chains, the project was completed four months ahead of the original FIT deadline. Loch a Bhraoin was developed by Inverbroom Hydro Ltd and Glendevon Energy Co Ltd, and received funding from Clydesdale Bank and Thrive.
The UK has around 2GW of potential hydropower capacity and a highly developed market of skills, personnel, and businesses ready to develop the sector. Hydro will play a key role in the UK’s future energy mix as it can provide baseload electricity generation as well as balancing services to the grid. Indeed this project has seen Loch Bhroain classified as a reservoir, offering significant storage potential. The last round of the FIT saw 40MW of hydropower capacity built, enough to power at least 35,800 average UK homes.

[1] Calculated using the most recent statistics from the Department of Business, Energy and Industrial Strategy (BEIS) showing that annual UK average domestic household consumption is 3,618kWh, <a href="https://www.renewableuk.com/page/UKWEDExplained" target="_blank" rel="noopener">https://www.renewableuk.com/page/UKWEDExplained</a>
[2] RenewableUK uses BEIS’s “all fossil fuels” emissions statistic of 450 tonnes of carbon dioxide per GWh of electricity supplied in the <a href="https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/905060/DUKES_2020_MASTER.pdf" target="_blank" rel="noopener">Digest of UK Energy Statistics</a> (July 2020) p125 Table 5D (“Estimated carbon dioxide emissions from electricity supplied 2015 to 2017”), <a href="https://www.renewableuk.com/page/UKWEDExplained" target="_blank" rel="noopener">https://www.renewableuk.com/page/UKWEDExplained</a>.  Average per capita greenhouse gas emissions.

inverbroom-complete-3

inverbroom complete 3

Loch a Bhraoin hydro power project, which we provided with mezzanine finance to cover construction, is now connected to grid and generating clean electricity.

Loch a Bhraoin hydro generates first electricity from Scottish rain

As part of its annual progress report to Parliament, the tone was more optimistic than in recent years, with the CCC commending the Government’s “bold policy decisions” following its recent election, which includes the swift removal of the de-facto ban on onshore wind. The biggest gap identified by the CCC, however, is also something that featured heavily in the Government’s industrial strategy – the cost of energy.
Published last week, the Government’s 10-year plan to boost investment, create jobs and accelerate British business emphasised that clean energy is central to the UK’s economic growth. As one of eight sectors of strength, the Government published its complementary <a href="https://assets.publishing.service.gov.uk/media/68587856b46781eacfd71de4/industrial_strategy_clean_energy_industries_sector_plan.pdf">Clean Energy Industries Sector Plan</a>, which it hopes will help tackle two of the biggest barriers facing UK industry right now – high electricity prices and long grid connection times. Below we unpack some of the key takeaways.
Electricity costs 
You may be aware that the UK currently operates under a marginal pricing system, which means the most expensive source of power needed to meet demand – i.e. gas – dictates the price for all our electricity.
But, as well as the price of the energy itself, the Government requires energy providers to collect levies or “policy costs” to help fund Government initiatives. Because of how the Government has chosen to apply them, the majority of the levies associated with the transition to clean energy are currently added to electricity bills. This means that people are paying disproportionately higher amounts for electricity compared to gas, despite <a href="https://www.nesta.org.uk/project/finding-ways-to-deliver-cheaper-electricity-by-rebalancing-levies/household-energy-bills-green-levies/">UK households consuming around three times as much gas each year.</a>
Central to the recent industrial strategy was how it can reduce energy costs for big electricity users, with the Government stating that it plans to introduce a “British industrial competitiveness scheme” from 2027. The idea is that this will reduce electricity costs through exemptions from paying green levies such as the Renewables Obligation, which requires electricity suppliers to source a specific proportion of their electricity from renewable energy sources, and the Feed-In-Tariff.
Unfortunately, these interim measures do not support the long-term switch from fossil fuels to homegrown, clean energy. <a href="https://www.edie.net/ccc-expensive-electricity-is-biggest-hurdle-to-britains-net-zero-transition/">As the CCC has pointed out</a>, what we need to see is the Government restructuring these levies all together, removing the legacy costs that have been placed on electricity bills and placing them on gas or into general taxation. <a href="https://www.edie.net/ccc-expensive-electricity-is-biggest-hurdle-to-britains-net-zero-transition/?utm_medium=email&amp;utm_campaign=edie_daily_news_alert_25-06-2025&amp;utm_content=edie_daily_news_alert_25-06-2025+CID_ec79a57c63297a0733166e724823bba6&amp;utm_source=campaign%20monitor&amp;utm_term=CCC%20Expensive%20electricity%20is%20biggest%20hurdle%20to%20Britains%20net-zero%20transition">It estimates that doing so would reduce the ratio of domestic electricity to gas prices from around 4:1 currently to between 2:1 and 3:1 – a ratio comparable to Ireland and France</a>.
The energy transition requires us to migrate our heat and transport energy consumption from fossil fuels to electricity. If the levies were collected from fossil fuel consumption, electricity would be cheaper and the transition would accelerate.
Grid connections
The grid is currently a major barrier to progress, with limited connection capacity and inefficient queue management slowing down delivery timelines, meaning projects could be waiting years before they are connected and generating clean power for UK homes and businesses.
In April, Ofgem approved major reform to the grid connection process, with an aim to accelerate progress toward clean power by 2030 by pushing ready to build projects to the front of the queue. Additionally, there are proposals to ensure smaller projects such as micro solar and community energy do not face delays due to large transmission upgrades.
The industrial strategy recognises that the grid remains a major challenge, with the Government announcing that it is exploring new ways to ensure strategically important projects are connected to the grid quickly. This includes the creation of a new “connections accelerator service” which it says will prioritise projects that guarantee high quality jobs and bring the greatest economic value. While we welcome this in principle, we will need to see how this works in practice and want to ensure that small to medium sized projects, that are equally as important to communities, are not deprioritised.
Onshore wind
The Government will be establishing a new joint Government-industry forum to implement its forthcoming onshore wind strategy. The sector plan has given us a hint of what is to come, including the potential for onshore wind to be included in its Clean Industry Bonus. This will give onshore wind developers access to more revenue for investments in clean, sustainable supply chains as part of its Contracts for Difference (CfD) scheme – which we think will help boost investor confidence.
Other suggestions include:
<ul>
<li>Working with industry body, RenewableUK, to conduct a supply chain capability analysis for onshore wind this year.</li>
<li>Implementing ambitious new reforms to decrease the rate of attrition in the planning system and ensure streamlined consenting.</li>
</ul>
We have been actively involved in the finance working group for the Government’s onshore wind taskforce and will continue engaging with policymakers on the key opportunities and challenges facing the clean energy sector, with the ultimate objective of accelerating the transition to a cleaner energy system.
Skills
The Government has committed to “upskill the nation” with an extra £1.2 billion a year for skills programmes by 2028-29.  It will shortly set out its first ever Clean Energy Workforce Strategy, ensuring it’s “taking full advantage of the skills of our existing energy workforce and giving a new lease of life to industrial and coastal communities”. As part of this it will invest over £100 million in building engineering skills in England, as well as supporting an additional 65,000 16–19- year-olds in England by 2028-29, including providing key pathways into priority occupations in the sectors identified as strengths for Britain.
Following years of uncertainty, it was a breath of fresh air to see clean energy at the heart of the Government’s industrial strategy and a clear, consistent plan for the industry to work with. Aligned with the CCC’s findings, we do think the Government has missed a trick by not re-distributing the levies onto gas bills – which would incentivise switching to cleaner, more sustainable sources of energy.

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We share our thoughts on the Government’s 10-year plan to boost investment, create jobs and accelerate British business.

Missing a trick on the cost of energy? Unpacking the latest moves from the Government and Climate Change Committee

This is our second time winning this award, and it felt particularly special to be recognised in the year we’re celebrating thirty years building and funding renewables.

To top off the month, we were highly commended at the British Renewable Energy Awards.

bg-investor-of-year-2025

BG investor of year 2025

Celebrating an award winning month at Thrive. 

ESG Investor of the Year 2025

<a href="/news/2024/12/weve-acquired-the-development-rights-for-our-biggest-project-to-date-a-57mw-onshore-wind-farm-in-scotland">Whitelaw Brae, a 57MW wind farm project in Scotland</a>, is wholly owned by Thrive Renewables. We bought it from the original developer at the end of last year after a competitive tender. Ripple was not part of that transaction and Thrive has not received any funds from Ripple Energy or Coop 4.    
We were exploring ways to integrate Coop 4 into the project before Ripple went into administration, and since then we have made contact with the directors of Coop 4.  As owner of Whitelaw Brae, we will continue with construction and we hope to include an opportunity for shared ownership if possible.      
Thrive Renewables was established in 1994 and has an operational portfolio of 24 clean energy projects, with further projects in development. We have a long track record of supporting community and shared ownership, both at the sites we own and by providing finance for community-owned energy projects. You can find out more here  <a href="/project-funding/community-energy-groups">Community energy groups – Thrive Renewables</a>

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