New share offer open - Help us double our generation capacity over the next five years

News

23 Oct 2023

Ambitious plans to fund and build over 100MW of new onshore wind, solar and battery storage by the end of 2028.

Article written by alex.lomax

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The offer is now closed on the Triodos platform.

Our new crowdfunded share offer is now open, giving you the opportunity to invest in new clean energy projects which cut carbon emissions, help reduce household bills and benefit communities.

The climate emergency is worsening, manifesting itself in heatwaves, droughts and catastrophic flooding around the world. But there is still time to act. By transitioning to a renewables-based energy system, we remove the need to burn polluting fossil fuels.

That’s why we have ambitious plans to build more onshore wind, solar, geothermal and battery storage projects over the next five years, with an aim to double the clean energy generation capacity in our portfolio. To finance this, we’re kicking off with a £2 million raise via the Triodos crowdfunding platform as part of a wider fundraising campaign to raise £10 million in the next six months and a total of £50 million by 2028.

“With COP28 approaching many of us are looking for ways to take action. Personal investment choices are a powerful opportunity to use our money as a vote for change. Thrive Renewables provide shareholders with a really clear investment proposition, enabling them to have a direct impact on the UK’s energy transition. They have been a pioneer in renewable energy in the UK and continue to push the sector forwards backing an increasingly wide range of technologies.”

Whitni Thomas, Head of Corporate Finance, Triodos Bank UK

We already have a busy pipeline of projects to deliver including 192 MW of new solar PV and battery storage through our £20 million investment in Ethical Power. We also plan to fund more ‘direct wire’ projects, giving UK businesses access to a direct supply of clean electricity, and community energy groups building their own clean energy projects locally. We recently invested £4 million in Scottish community energy group, ATTIX CIC, so that it could move forward with constructing Scotland’s first subsidy free, 100% community-owned onshore wind turbine just outside Kilbirnie, North Ayrshire.

These new deals complement our existing portfolio of 22 operational projects which generated £5.9 million of operating profits and delivered the equivalent of 28,000 tonnes of carbon emission reductions in the first half of 2023.

“Getting to Net Zero is a huge economic and social opportunity for the UK to create a cleaner, fairer, more resilient energy system, but we have to take urgent action now. In the context of climate emergency and the planet heating at an alarming rate, many people will find the current uncertainty and prevarication in the UK immensely frustrating. With the support of over 7,000 investors, we fund and build new wind, solar, geothermal and storage projects to help reduce carbon emissions and benefit local people. We’re building on a track record of almost 30 years with ambitious plans to double our generation capacity over the next five years.”

Matthew Clayton, Managing Director, Thrive Renewables

Other recent development projects include providing £4 million funding to construct England’s largest onshore wind turbine, which is wholly community-owned, and a 20 MW battery in our home city of Bristol, plus a total of £6 million investment in United Downs – the UK’s first deep geothermal electricity generation plant in Cornwall, which also has the potential for the extraction of lithium for battery manufacture.

Now open, the minimum investment in the crowdfunding offer is £243 (100 shares) and shares can be held in a self-invested personal pension (SIPP). We are 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.

For the first half of 2023, we posted an operating profit of £5.9 million and a turnover of £12.3 million. With £110 million of assets under management, shareholders received a 12 pence per share annual dividend in July 2023. Investors should note that past performance is no indication of future likely performance.