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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.
&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 wind farm comprises of three 2.3 MW Enercon turbines across the valley from the existing High Winds two turbines at Harlock Hill in south Cumbria. Through co-operation, the Energy4All family of Co-ops has been able to acquire an existing wind farm from a commercial operator.
This purchase demonstrates the ability of the community sector to operate in the business world, and reflects the appetite for greater community ownership of renewable energy as an end in itself, especially important since most of the government subsidies for new build have been substantially reduced.

meanmoor

MEANMOOR

Three renewable energy co-operatives, High Winds Community Energy Society, together with Baywind Energy and Energy Prospects, and with the support of the ethical investment company Thrive Renewables, have acquired the Mean Moor wind farm in Cumbria.

The power of co-operation in the community owned renewable energy sector

Here’s one potentially gargantuan implication: as a result of the cost decline, it’s now possible to develop new offshore wind farms for a guaranteed price of £57.50<a class="js-scroll-done" href="https://good-with-money.com/2017/10/09/why-wind-could-become-the-uks-no-1-energy-source/#_ftn1" name="_ftnref1">[1]</a> per megawatt hour. This compares with the Government’s commitment to pay £92.50<a class="js-scroll-done" href="https://good-with-money.com/2017/10/09/why-wind-could-become-the-uks-no-1-energy-source/#_ftn2" name="_ftnref2">[2]</a> per megawatt hour to the planned Hinkley Point.
Matthew Clayton, managing director of Thrive Renewables, a <a href="http://goodegg.good-with-money.com/">Good With Money Good Egg company</a> that allows people to invest directly in UK renewable projects, said: “The results of the <a href="https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/643560/CFD_allocation_round_2_outcome_FINAL.pdf">offshore auction</a> price is a great success for the sector and a milestone for the transition to a cleaner energy system. The UK is playing to its physical strength, we are exposed to a powerful wind regime and as an island, we have a long coastline.
&#8220;The Government can on one hand be pleased with the cost reduction, but on the other hand, this does make the cost of Hinkley Point C nuclear plant now seem way out of the market.”
<h3>The renewables revolution</h3>
The UK’s renewable energy capacity has been steadily gaining pace, <a href="https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/647752/Energy_Trends_Sep_17.pdf">BEIS</a> Energy Trends report for Sept 2017 shows renewable electricity generation capacity grew to <a href="https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/647752/Energy_Trends_Sep_17.pdf">37 gigawatts</a> in 2017, having installed 4.4 gigawatts of new renewable generation over the course of 2017. Renewables are now generating more than a quarter of the UK’s electricity.

UK offshore wind power has just become materially cheaper than nuclear. This is a major step forward for UK renewable energy and we hear from Matthew Clayton, MD of sustainable investment company, Thrive Renewables about what this means for the industry. Written by Rebecca O'Connor - Good With Money

Why wind could become the UK's number one energy source

We develop, construct and operate small to medium scale renewable energy projects, and offer accessible opportunities to directly invest in these clean energy projects. The company has more than 6,300 UK investors and more than 90MW of renewable generation capacity under management. We were awarded a Good Egg for our renewable generation capacity and CO2e avoidance impacts, as well as our community engagement.
The mark, launched in May 2017, is designed to make it easier for people to find financial providers that have a positive impact on the environment and society, as well as offering a good deal financially. To find our more about the Good Egg logo click <a class="js-scroll-done" href="http://goodegg.good-with-money.com/#5" target="_blank" rel="noopener noreferrer">here</a>.
To read the full article click <a href="http://good-with-money.com/" target="_blank" rel="noopener noreferrer">here.</a>

tide-ise-2018-4

TIDE &amp; ISE 2018

The third responsible business to be awarded a Good Egg mark from Good With Money.

Thrive Renewables awarded Good Egg Mark

<h3>Peter, what inspires you to make a difference?</h3>
I have two children aged 14 and 11 and they’re very important to me. I want them to grow up in a clean energy world and renewables are a big part of that. I also want to broaden their minds and encourage them to pursue what matters to them.
My son likes all things related to gadgets and science and told me when he was 9 that that he was going to create a solution for perpetual energy. It is good to dream big! Last year I brought him a small solar lantern and charging unit from Kenya which he now uses to do his homework and charge his phone. Hopefully this can be the first step on his sustainable energy ladder.
My family recently travelled with me to Tanzania where I work with local companies to provide off grid community energy. During the trip we visited a social business assembling and distributing solar lanterns to show my children how some local women live and work and to get them engaged. They have now decided to raise funds for charitable causes of their own. While they did not opt for renewables &#8211; my son went for Water Aid and my daughter chose to protect chimpanzees – I am pleased they too are trying to make a difference.
<h3>How did you come to work in renewables?</h3>
I followed a pretty unconventional career path. I started in financial journalism, followed by market research, electricity trading and energy banking. Energy financing and investment was a constant theme throughout. In the early days, I worked for GE Capital and others, acting as the principal investor and lender in renewable and other energy projects. Later on, I switched to the energy manufacturing side, working for the likes of Siemens Wind Power to increase sales of wind turbines by sourcing financing for their customers.
While I really enjoyed working for these large energy companies, I have always had a soft spot for smaller organisations. Joining Thrive Renewables (Thrive) as a non-executive director in 2011 exposed me to smaller, more localised renewable projects. Becoming a trustee of the NGO Renewable World provided me with insight into even smaller, micro-scale projects, this time in developing countries. And then last year, I joined the management team of Energy 4 Impact where I get paid to do something I love: working with small entrepreneurs on renewable energy in the challenging markets of Africa.
<h3>Tell us more about your work in the renewables sector?</h3>
In my day job, I am Investment Advisory Director for <a href="http://www.energy4impact.org/">Energy 4 Impact. </a>We are a non-profit organisation that seeks to alleviate poverty in Sub Saharan Africa by increasing access to energy for under-served rural communities. Currently around 6 out of 10 people in Africa lack access to electricity &#8211; that is nearly 650 million people. Well over half of the businesses there say access to reliable power is a major constraint on their growth. And there is a big urban-rural divide, with access in urban areas being nearly 70% compared to just 15% in the countryside.
We provide advice to small and micro off-grid renewable enterprises, including start-ups and more mature growth businesses. My role is to advise them on business plans and capital raising and to work with local financial and industrial partners to provide financing for their end customers. Our business clients include suppliers of solar lighting and energy products, solar irrigation pumps, cold storage units, biogas digesters and clean cooking solutions. We also support providers of ancillary services such as remote metering and payment systems, which are critical for the sustainability of renewable businesses in remote areas.
Like Thrive, we do a lot of work with small renewable project developers. However, the challenges involved are very different from the developers supported by Thrive. Most of the “mini-grids” Energy 4 Impact supports are very small (I.e. a few kilowatts in size versus the megawatt projects of Thrive) and serve only a few hundred or thousands of people. Because most of the projects are not connected to the national grid, they supply energy directly to local communities where demand for electricity is often uncertain. In the case of Thrive’s projects, we already have a good idea how much and to whom we are selling power.
In my part time, I am a trustee for Renewable World which develops community micro renewable projects in South Asia and East Africa. These include hydraulic and solar water pumping projects in the hillside communities of Nepal and solar mini-grids in remote fishing villages in Kenya. My role is to oversee and support programme management and fund-raising. Like Thrive, Renewable World works closely with local communities to ensure the projects are sustainable from a social, business, financial and environmental perspective.
<h3>What else are you doing?</h3>
A few years ago I became an (unpaid) advisor to Pearlstone Energy, a UK electricity demand response aggregator start-up. They face many of the same challenges in terms of market development and funding that my clients in Africa face, albeit in a very different market context.
Demand response is an emerging market that allows commercial industrial consumers such as data centers and medical facilities to support the National Grid by reducing their electricity usage during peak periods and getting paid for doing so. While the market is currently more risky than traditional generation, the opportunities for investors and potential benefits for consumers in terms of lower cost electricity and reduced CO2 emissions are clear.
<h3>How do you see the future?</h3>
The cost of key components such as solar panels and batteries has fallen dramatically in recent years, creating new opportunities for investors. In developed markets such as UK, we are seeing the emergence of new businesses in energy storage and demand response, which dramatically improve electrical system efficiency. In some developing markets such as East Africa, we are witnessing a solar revolution facilitated by remote metering and pay-as-you-go technologies which allow those unable to afford the high upfront cost of electrical services to pay in small instalments. All in all, it is a very exciting time to be in renewables.
<h3>About Peter Weston</h3>
<ul>
<li>Board Member of Thrive Renewables (formerly Triodos Renewables) since 2011. Chair of Operations and Health &amp; Safety Committee.</li>
<li>Director of Investment Advisory at Energy 4 Impact (formerly GVEP International)</li>
<li>Trustee of Renewable World</li>
<li>Visiting lecturer at ESCP, a European business school</li>
<li>Previous management roles with GE Capital, Siemens Wind Power, MAN Diesel &amp; Turbo, Westdeutsche Landesbank, Aquila Energy and Osaka Gas</li>
<li>Journalist with Euromoney Publications and freelancer for Financial Times</li>
</ul>

0u9a9201-edit

0U9A9201-Edit

Empowering communities, connecting people to power and inspiring the next generation.

Team profile: Peter Weston

This passion extends to everyone around him, from his family and friends, to the UK renewable investment community, and to the small off-grid entrepreneurs he works with in Africa.
With a 20-year career as an investor, lender and strategic adviser to different organisations in the renewable energy sector, we are interested to find out what makes Peter tick and where the next chapter of his renewables adventure will take him.
<h3>Peter, what inspires you to make a difference?</h3>
I have two children aged 14 and 11 and they’re very important to me. I want them to grow up in a clean energy world and renewables are a big part of that. I also want to broaden their minds and encourage them to pursue what matters to them.
My son likes all things related to gadgets and science and told me when he was 9 that that he was going to create a solution for perpetual energy. It is good to dream big! Last year I brought him a small solar lantern and charging unit from Kenya which he now uses to do his homework and charge his phone. Hopefully this can be the first step on his sustainable energy ladder.
My family recently travelled with me to Tanzania where I work with local companies to provide off grid community energy. During the trip we visited a social business assembling and distributing solar lanterns to show my children how some local women live and work and to get them engaged. They have now decided to raise funds for charitable causes of their own. While they did not opt for renewables &#8211; my son went for Water Aid and my daughter chose to protect chimpanzees – I am pleased they too are trying to make a difference.
<h3>How did you come to work in renewables?</h3>
I followed a pretty unconventional career path. I started in financial journalism, followed by market research, electricity trading and energy banking. Energy financing and investment was a constant theme throughout. In the early days, I worked for GE Capital and others, acting as the principal investor and lender in renewable and other energy projects. Later on, I switched to the energy manufacturing side, working for the likes of Siemens Wind Power to increase sales of wind turbines by sourcing financing for their customers.
While I really enjoyed working for these large energy companies, I have always had a soft spot for smaller organisations. Joining Thrive Renewables (Thrive) as a non-executive director in 2011 exposed me to smaller, more localised renewable projects. Becoming a trustee of the NGO Renewable World provided me with insight into even smaller, micro-scale projects, this time in developing countries. And then last year, I joined the management team of Energy 4 Impact where I get paid to do something I love: working with small entrepreneurs on renewable energy in the challenging markets of Africa.
<h3>Tell us more about your work in the renewable sector?</h3>
In my day job, I am Investment Advisory Director for <a href="http://www.energy4impact.org/">Energy 4 Impact. </a>We are a non-profit organisation that seeks to alleviate poverty in Sub Saharan Africa by increasing access to energy for under-served rural communities. Currently around 6 out of 10 people in Africa lack access to electricity &#8211; that is nearly 650 million people. Well over half of the businesses there say access to reliable power is a major constraint on their growth. And there is a big urban-rural divide, with access in urban areas being nearly 70% compared to just 15% in the countryside.
We provide advice to small and micro off-grid renewable enterprises, including start-ups and more mature growth businesses. My role is to advise them on business plans and capital raising and to work with local financial and industrial partners to provide financing for their end customers. Our business clients include suppliers of solar lighting and energy products, solar irrigation pumps, cold storage units, biogas digesters and clean cooking solutions. We also support providers of ancillary services such as remote metering and payment systems, which are critical for the sustainability of renewable businesses in remote areas.
Like Thrive, we do a lot of work with small renewable project developers. However, the challenges involved are very different from the developers supported by Thrive. Most of the “mini-grids” Energy 4 Impact supports are very small (I.e. a few kilowatts in size versus the megawatt projects of Thrive) and serve only a few hundred or thousands of people. Because most of the projects are not connected to the national grid, they supply energy directly to local communities where demand for electricity is often uncertain. In the case of Thrive’s projects, we already have a good idea how much and to whom we are selling power.
In my part time, I am a trustee for Renewable World which develops community micro renewable projects in South Asia and East Africa. These include hydraulic and solar water pumping projects in the hillside communities of Nepal and solar mini-grids in remote fishing villages in Kenya. My role is to oversee and support programme management and fund-raising. Like Thrive, Renewable World works closely with local communities to ensure the projects are sustainable from a social, business, financial and environmental perspective.
<h3>What else are you doing?</h3>
A few years ago I became an (unpaid) advisor to Pearlstone Energy, a UK electricity demand response aggregator start-up. They face many of the same challenges in terms of market development and funding that my clients in Africa face, albeit in a very different market context.
Demand response is an emerging market that allows commercial industrial consumers such as data centers and medical facilities to support the National Grid by reducing their electricity usage during peak periods and getting paid for doing so. While the market is currently more risky than traditional generation, the opportunities for investors and potential benefits for consumers in terms of lower cost electricity and reduced CO2 emissions are clear.
<h3>How do you see the future?</h3>
The cost of key components such as solar panels and batteries has fallen dramatically in recent years, creating new opportunities for investors. In developed markets such as UK, we are seeing the emergence of new businesses in energy storage and demand response, which dramatically improve electrical system efficiency. In some developing markets such as East Africa, we are witnessing a solar revolution facilitated by remote metering and pay-as-you-go technologies which allow those unable to afford the high upfront cost of electrical services to pay in small instalments. All in all, it is a very exciting time to be in renewables.
<h3>About Peter Weston</h3>
<ul>
<li>Board Member of Thrive Renewables (formerly Triodos Renewables) since 2011. Chair of Operations and Health &amp; Safety Committee.</li>
<li>Director of Investment Advisory at Energy 4 Impact (formerly GVEP International)</li>
<li>Trustee of Renewable World</li>
<li>Visiting lecturer at ESCP, a European business school</li>
<li>Previous management roles with GE Capital, Siemens Wind Power, MAN Diesel &amp; Turbo, Westdeutsche Landesbank, Aquila Energy and Osaka Gas</li>
<li>Journalist with Euromoney Publications and freelancer for Financial Times</li>
</ul>

After lunch, Thrive’s MD, Matthew Clayton covered the company’s outlook and how investors had made a direct impact, finished off with an inspiring talk from Felicity Jones of Everoze about the evolving electricity system and the growth of ‘storage’ as a means of delivering the flexibility required for an increasingly renewables powered system.
For more information on Thrive’s performance, projects and market outlook read the 2016 <a href="/documents/2016-annual-report/" target="_blank" rel="noopener">Annual Report.</a> To see how we’re making a difference, visit our ‘<a href="/impact/" target="_blank" rel="noopener">Impact</a>’ section.
<h3>2016 at a glance</h3>
It was a mixed year with particularly low average wind speeds, the autumn being the least windy for 15 years and major flooding creating challenges for the electricity networks. This resulted in profits being down for 2016, to some extent being balanced by improving power prices and two very successful, award-winning, bond offers raising over £13 million fuelling growth. The funds went straight into more onshore wind projects, and for the first time a ground mounted solar farm. Over the last 18 months the project portfolio has grown by over 16% to 19 UK sites in total, the majority being onshore wind with hydro and now solar.
The shareholders agreed an annual dividend at 4 pence, as per the previous two years, demonstrating the underlying health of Thrive Renewables.
The Thrive team were on hand to discuss a number of topics including the share price and latest investments as well as answer any questions. It was wonderful again to see our committed shareholders and bondholders to talk about the future of renewables.

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Around 90 investors, both shareholders and bondholders, connected for one day in London for Thrive’s AGM at the prestigious Royal Institution - a fitting venue given its scientific legacy and the adjoining Faraday museum for shareholders to enjoy as part of the day.

Thrive investors connect in London to affirm renewables mission

Renewables generated 26.6% our electricity from January to March, an increase of 1% on last year, while coal’s output dropped from 15.8% to 11.3%. In Q1 2015, coal was providing 30.8% of our power, so the UK’s clean energy transition is continuing to accelerate rapidly.
All low-carbon sources, including nuclear, generated 45.6% of the UK’s electricity, up from 44.4% at the same three-month period last year.

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Renewable energy generated more than 25% of the UK’s electricity in the first quarter of this year reports RenewableUK.

Onshore wind leads UK renewable power generation in 2017

With over 6,300 investors in Thrive, the company funds sustainable projects all over the UK to create genuine, long-term, positive impact – financially, environmentally and socially.
Thrive has worked with REV to support the timely procurement and construction of the Gevens project with three turbines in Kirkcaldy, Fife all being delivered by boat. It is now focusing on delivering Brotherton, a two-turbine project near Johnshaven, Aberdeenshire and on schedule to start generating green electricity to the grid in summer 2017.

Banks typically lend 75%-80% of project capital costs with developers still needing to find the remaining 20%-25%. Thrive Renewables provided a mezzanine loan to compliment the senior loan provided by Santander on both the projects.
The Gevens project is located 5km from Kirkcaldy close to the open water of Loch Camilla. The three 2.3MW Enercon E82 turbines are just under 100 metres tall.
The Brotherton project is located within the Brotherton Estate near Johnshaven in Scotland. The two 2.3MW Enercon E82 turbines are just under 100 metres tall.
For the Gevens site, the civil engineering works were delivered by contractor RJ McLeod; and on the Brotherton site by AE Yates. The construction process has been managed by firms Green Cat Renewables and Greenbank Accountants.

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In partnership with developers, Renewable Energy Ventures (REV), this type of funding marks an additional way for Thrive Renewables to contribute to the growth of renewable generation in the UK.

Thrive Renewables delivers mezzanine funded wind farms in Scotland

<h3>Financial leadership category and submission</h3>
In 2016/2017 Thrive raised a total of £13M for renewable energy projects through innovative online crowdfunding and was the first bond offer to be available through the Innovative Finance ISA (IFISA).
Thrive highlights:
<ul>
<li>The Thrive Plc bond offer raised £9.97m for new sustainable energy projects in the UK exceeding its target of £7.5m by 33 per cent.</li>
<li>It was one of the first crowdfunded bonds eligible for an Innovative Finance ISA.</li>
<li>The funds are now being deployed into onshore wind and solar projects with the aim of generating a further 36,000 UK homes with clean electricity in 2018.</li>
<li>933 individuals invested their money in Thrive Renewable’s bond from just £5 online.</li>
<li>Whilst the 5% interest rate and IFISA benefits provided a healthy incentive to investors, Thrive’s bond demonstrates strong investor appetite and support for UK renewable energy.</li>
<li>Working with Triodos Bank’s corporate finance specialists and Abundance Investment, Thrive was able to offer Bondholders the opportunity to include their investment in their IF-ISA.</li>
</ul>
With a 20-year history and trusted ethos, Thrive unites a growing movement of investors who are wanting to see investment with direct impact. The Bristol based, sustainable company has contributed to the construction of 95 MW of renewable energy projects, across 19 sites around the UK with a total of £105M assets under management.
The IFISA was introduced on 6 April 2016 and from 1 November 2016 crowdfunded debt securities, such as the Thrive Bond, were eligible for inclusion.
Thrive Renewables continues to invest in and operate renewable energy projects, uniting a community of over 6,300 investors.

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We are pleased to announce that Thrive has won the Financial Leadership category as part of the British Renewable Energy Association (REA) Awards 2017.

Thrive wins 'Financial Leadership' award at the British Renewable Energy Awards 2-17

Banks typically lend 70%-80% of project capital costs with developers or communities still needing to find the remaining 20%-30%. Thrive Renewables has provided the essential £1.7M to enable the community group managed by Mongoose Energy to acquire a solar project in Sheriffhales in Shropshire. Over the coming months, the community will be invited to get involved and invest in the 3.1MWp solar farm and establish a rewarding connection with the site.
With over 6,300 investors in Thrive, the company funds sustainable projects all over the UK to create genuine, long-term, positive impact – financially, environmentally and socially.

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Thrive Renewables supports a Mongoose Energy initiative.

Thrive bridges £1.7 million funding gap to support community solar ownership

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Heat Networks are an energy efficient and cost efficient way to decarbonize heat, especially in areas of concentrated demand i.e. densely populated and mixed use areas (commercial, industrial, public and residential) such as urban centres.
In the UK, only 2% of heat is currently supplied by heat networks however the government, in its 2015 autumn review announced £320m capital allocation to the Heat Networks Investment Programme (HNIP) over the next 5 years. This is expected to support UK’s development of heat networks, to provide impetus to necessary innovation and to leverage an additional capital investment of around £2bn into the sector over the next 10 years.
<h3>Investment environment in the UK</h3>
The UK has a long way to go to fully exploit the potential of heat networks. The networks that have been built to date have been funded largely by public sector sponsors e.g. local authorities and private sector owner-operators trying to meet energy efficiency targets on new-builds. To achieve the desired scale and the build rates needed to realise heat network’s carbon reduction contribution, a greater diversity and breadth of investors is key.
<h3>Heat, energy decarbonisations and heat networks</h3>
Heating and hot water account for over 80% of domestic and just under 60% of non-domestic energy consumption, making heat decarbonsiation extremely important for UK to meet its legally binding carbon reduction target set in the Climate Change Act, as well as to deliver on the commitments made in the Paris Agreement.
Nearly 70% of current heating comes from natural gas and for UK to achieve its low carbon targets requires a dual focus on overall greater energy efficiency and the use of heat networks
This paper highlights the scope and potential of this opportunity and request for your feedback, your thoughts and questions that you may have on the ‘Heat Networks Opportunity’ after reading this paper. Please email <a href="mailto:news@thriverenewables.co.uk">news@thriverenewables.co.uk</a>
This information was taken from the Heat Networks report produced by ESC and supported by Thrive Renewables. <a title="2017-02 Heat Investment in the UK.pdf" href="https://www.thriverenewables.co.uk/media/1428/2017-02-heat-investment-in-the-uk.pdf" target="_blank" rel="noopener" data-id="1873">Read the full report here</a>.
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Thrive has been supporting Energy Systems Catapult (ESC) in a piece of research around the opportunity for UK investment in Heat Networks.

Should we be investing in heat networks?

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Despite this significant contribution, renewables are often criticised for being ‘intermittent’ as they don’t generate 24/7/365. Whilst renewable generation is reliant on natural resources (wind, sunlight, rainfall) I prefer to use the term variability &#8211; a more appropriate description as solar, wind and hydro output can be forecast accurately, providing the National Grid advance notice of how much will be generated by each wind, solar and hydro project. However, the lowest cost renewable energy sources are not able to provide the shape required to meet the significant swings in daily electricity demand, so flexible generation power stations are necessary as part of a transitional energy system.
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The market dictates that it is the most expensive and polluting generators (often, diesel or oil fired and less efficient coal and gas) which are responsible for meeting peaks of demand which occur daily between four and seven in the evening. Therefore the onus falls on us, the consumers, to step up and address the shape of our energy demand to both reduce the use of the most carbon intensive generators, to allow increased contribution of renewables and to reduce the cost of energy to consumers.
<h3>Shaping energy demand</h3>
There are three approaches that can be taken to tackle the shape of energy demand. Firstly, we can take it upon ourselves, as individuals and businesses, to reduce demand and use energy more consciously and efficiently. Another option would be for the energy companies to better match the shape of demand and supply to order to avoid the expensive and GHG emission intensive spikes. Renewables could also be the answer – by looking into ways to store electricity generated by renewable sources, we could develop ways to allow surplus in off peak generation to contribute to dealing with peak demand.
It’s time to look at both sides of this equation. At Thrive Renewables, we characterise these measures as the enabling environment, where not only electricity supply, but also demand will evolve to better utilise natural resources. This would see us build a system where renewables can contribute over 50 per cent of power to the grid, reserving use of precious fossil fuels for times they are needed the most. In other words, this system would maximise the utilisation of energy which is freely and infinitely available and minimise the consumption of finite and harmful resources.
<h3>Enabling environment in practice</h3>
To implement this, we need to all take active steps to shape energy demand. At home, work and recreation we can think about when we use power. Do we need to operate our most energy intensive appliances (immersion heaters, tumble dryers, washing machines) at peak demand periods, or can we set them to run at periods of lower demand, lowering the peak and smoothing demand?  We are already seeing industrial consumers managing their consumption to take the pressure off of the grid at peak times.  We’d hope that in time domestic appliances will be manufactured which are sensitive to peak demand, which automatically reduce their energy requirements when the network is stretched.  In the mean time we can consider energy efficiency measures, where we can contribute to lowering the overall demand of energy.
On a larger scale, there are industry level changes that can be made. At Thrive, we’re looking at ways to integrate storage into our renewable generation projects, where we store a proportion of the power generated, then release the stored electricity to the grid when demand peaks. This is a development in progress as storage options are growing and feasibility is on the horizon.
We’re also exploring demand side management tools, where industry and larger consumers of energy automatically trim their demand for power when peaks are forecast, taking the stress out of the grid and reducing the use of the most expensive and polluting sources of power.  Office buildings would not notice if the air conditioning or heating was switched off for ½ an hour to reduce a spike in demand, yet the aggregate impact of consumption dipping takes the top of the peak, requiring less fossil fuel to be burnt.
<h3>Shared responsibility for energy</h3>
The energy system will have to change from a demand-led, centralised system to one where we all take responsibility. In addition to us being mindful about energy use there is also the possibility of domestic and commercial systems and appliances which can respond to the availability (or lack of availability) of power becoming mainstream.
Electric vehicles, for example, can be charged using renewable sources and discharged not only for travel, but can also be plugged into homes and offices releasing power back to contribute to satisfying peak demand. Many of us already have an energy storage device in our homes, our hot water tank, which can play a role in balancing the system.  Additionally, domestic appliances will be able to tweak demand for heat, refrigeration, cooling and motors, which in aggregate across the country can have a material impact on the shape of consumption, allowing renewable resources utilised to a greater extent.  This will consciously (albeit automatically) shift both demand and supply to a shape which better matches our daily lives and natural resource availability.
<h3>The future of energy demand</h3>
The role for renewable generation is growing, and the establishment of the enabling environment will throw the door wide open to a cleaner, more sustainable system, where we can all play our part.  Let’s start by being conscious of when we use energy, is it day or night, sunny or cloudy, windy or still?
If we get this right, we can reduce and sculpt demand to provide the flexibility in the system, allowing the majority of power to be generated from infinite resources, rather than the current system which depends on finite resources and environmentally damaging technologies to achieve the flexibility.  By better matching demand and supply we can reduce both the environmental and financial cost of electricity.
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The growth of renewables in the past ten years has been the success story of energy in the UK.

The shape of things to come

Prioritising people and planet, we’ve invested in wind, solar and hydro, plus breakthrough projects like the UK’s first geothermal power plant and commercial scale tidal generation. We’ve empowered communities to take control of their energy and helped fund England’s largest onshore wind turbine that’s 100% community owned. Plus, helped businesses across the UK to decarbonise through on-site wind and solar. In total, the portfolio has generated over 2 million MWh of clean electricity and avoided the emission of more than 1 million tonnes of carbon dioxide.
Having been founded as one of the UK’s first mission driven businesses in 1994, 30 years later we’re proud to be in the top 3% of all UK B Corps for our ongoing commitment to environmental and social justice.
Thank you to everyone who’s worked with us to tackle the climate emergency together. We look forward to the next 30 years, collaborating with partners, friends and individuals to create a cleaner, fairer world for future generations.

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Since building some of the UK’s first wind turbines in the 90s, we’ve helped get a range of wind, solar and hydro projects off the ground, working together to build a cleaner, fairer world for generations to come. 

It’s our birthday! 30 years Thriving

Before heading to site, local people could meet the Thrive team and get to know the 30-year history of the project at the nearby Victoria Institute, where there were lots of family activities including face painting, crafts and more.
The day before, we visited local schools in Caton to deliver an interactive learning session all about renewable energy, before heading onto site for the children to see the wind turbines in person &#8211; bringing what they had just learnt to life.

We’d like to say a massive thank you to everyone who came to our open day and all the local organisations involved in making the day a success, with special thanks to the Victoria Institute and Caton WI for their involvement. Below are just some of the brilliant moments captured from the event.

Member of Thrive team showing visitors round the Caton Moor site

Local residents at The Victoria Institute

Member of Thrive team engaging local child in wind-themed arts and crafts

Two visitors with Caton Moor wind turbines in the background

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We invited local school children and residents to see up close how a wind farm helps power our everyday lives. 

Bringing wind power to life at Caton Moor open day

Half year operating profits including investments were £7.4 million on a turnover of £14.6 million, with shareholders receiving a final dividend of 12p per share for 2023, which was paid in July this year. Please note, past performance is not a reliable indicator of future performance.
The increase in turnover is the result of raised electricity prices and the addition of the Feeder Road battery to our portfolio, which has now been operational since December 2023.

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Funding our growth ambitions
We were pleased to announce a new joint venture with TopCashback Sustainability Ltd that will unlock up to £40 million in additional capital. Deployed collaboratively alongside Thrive’s own capital over four years, this partnership will help us contribute to the next phase of the UK’s transition and supports our own ambitious growth strategy. We are  finalising debt arrangements which will inject a further £17 million of funding into the business and, to help us with our goal of doubling our generation capacity within the next five years, we’re also looking to raise capital in early 2025.
The Thrive PLC bond was repaid in March as planned after the conclusion of its seven-year term. The bond offer, which was the first to be available as an Innovative Finance ISA (IFISA), helped fund new projects including a milestone community wind project in Cumbria in 2017.
New diverse projects
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We continue to deploy capital into projects that are consistent with our long-term growth strategy, focusing on further diversifying the pipeline so that we can grow our impact and resilience.
So far this year, we have secured a 25-year life extension of our 1MW Beochlich hydro project in the Scottish Highlands and had planning consent granted for an extension of our Drumduff wind farm, which we co-own with local partner GreenPower. The extension will add three turbines with an expected generation capacity of 12-15MW, bringing the overall Drumduff wind farm to six turbines and potentially tripling the combined onsite generation capacity.
We made a £1 million investment in two community owned wind turbines in Gloucestershire and are providing Eden Sustainable with up to £75 million in funding to accelerate the roll out of private wire solar PPA projects for schools, businesses, and other organisations across the UK.
Good progress has been made with construction of the ATTIX CIC wind turbine in Kilbirnie, as well as two ground mount solar projects as part of our partnership with Ethical Power. With generation expected to start in early 2025, significant progress has also been made at the UK’s first deep geothermal production plant in Cornwall, with the turbine that will convert geothermal heat into renewable electricity now successfully installed.
Supporting communities 
The final projects from round seven of our voluntary Community Benefit Programme, which provides energy efficiency grants to important shared buildings close to our sites, have now been completed. Nominations for round eight have just closed, with £30,000 in grants to be allocated for local energy saving initiatives across the UK.
We’ve also supported a number of community focused initiatives, including the Centre for Sustainable Energy (CSE)’s Green Match Fund, which aims to provide more communities with the tools and resources they need to create sustainable, resilient places to live – from improving the energy efficiency of houses and community buildings to preserving natural spaces and setting up social enterprises for community energy. Thrive pledged £5,000 match funding to the appeal, with the final total standing at over £16,000.
It has been great to meet more of our communities in the first half of the year, recently arranging for a local nursery school to visit our Feeder Road battery project in Bristol. The event gave them an opportunity to learn about renewable energy, as well as take part in some themed arts and crafts and nature spotting.
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