Thrive Renewables, which has been funding clean energy projects since 1994, has launched a crowdfunding offer this week in order to build new renewable energy generation and storage across the UK. It comes at a critical time for UK energy policy, with renewables a key sector for growth in response to the gas price crisis.
Recent projects which Thrive Renewables has invested in include England’s tallest onshore wind turbine in partnership with Ambition Community Energy, a 20MW battery project in Bristol and the UK’s first commercial deep geothermal electricity generation plant in Cornwall. The company has also recently built a 5MW battery storage facility near Milton Keynes and funded the installation of a number of commercial solar rooftop installations.
The share offer is promoted by Triodos Bank UK, through its crowdfunding platform. The campaign aims to raise at least £5 million for Thrive Renewables, which has almost 30 years’ of experience in building, owning and operating clean energy projects with the backing of thousands of investors – large and small.
Collaborative funding for community energy
The new investment will support Thrive in the first stage of its ambitious plans for growth, diversifying and expanding its portfolio of clean energy projects to create value across the electricity system as it transitions to net zero by 2035. As well as investing in new onshore wind and commercial solar projects, Thrive intends to increase its battery storage and baseload capacity and the collaborative funding available for community energy groups to build their own renewable energy projects.
In 2021 Thrive’s wind, solar and hydro projects generated just over 110,000 MWh of renewable electricity, enough to power over 30,000 UK homes or 28% of all UK electric vehicle journeys. Its portfolio also delivered 49,515 tonnes of carbon dioxide emissions reductions.
A certified B Corporation, Thrive has been a mission-based business since its foundation, with an ambition to power the transition to a sustainable energy future by helping people connect with clean energy projects as investors. The company was first established by Triodos Bank as ‘The Wind Fund plc’ in 1994, to provide retail investors with the opportunity to invest directly in clean energy projects. Since 2016, the company has been independent of Triodos Bank, and branded as Thrive Renewables.
The minimum investment in the crowdfunding offer is £94 (40 shares) and shares can be held in a self-invested personal pension (SIPP). The company is targeting 5-8% return per year through a combination of dividends and increasing share value. As with all investments, returns are not guaranteed, and investors may not get back all, or any, of their original investment.
“Climate change is one of the greatest challenges we currently face, with the consequences already being seen on a global scale. To reduce carbon emissions in line with net zero, we need to rapidly accelerate our transition to a cleaner, fairer energy system. Renewable energy sources such as wind, hydro and solar are accessible, affordable, sustainable, and reliable, helping to improve the UK’s energy security as well as revitalise the economy by creating new green jobs.”
Matthew Clayton, managing director of Thrive Renewables
Thrive Renewables has £96 million assets under management. It posted an operating profit of £2.5 million and a turnover of £11 million for 2021, with shareholders set to receive a 7 pence per share annual dividend in July 2022. However, investors should not base their expectations of future results on past performance.
