News

29 Aug 2024

Thrive joins forces with TopCashback Sustainability to help fund the next phase of the UK energy transition

The £80 million joint venture will fund new renewable projects across the UK including onshore wind and solar.
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Article written by alex.lomax

Thrive has entered into a joint venture with TopCashback Sustainability Ltd to help fund the next phase of the UK’s Net Zero transition, unlocking up to £80 million in collaborative capital to be deployed over four years.

The joint venture will allow us to build new wind, solar and other renewable assets that clean up the UK energy system, reduce carbon emissions and help tackle the climate crisis. It will also support our ambitious growth plans to double our generation capacity over the next five years.

“With the Government announcing its ambitions to double onshore wind, triple solar and quadruple offshore wind by 2030, we’re delighted to add TopCashback Sustainability to our growing list of joint venture partners.

“Thrive specialises in providing collaborative capital and we believe that, by working together, we can have a much greater impact – building new clean energy projects that deliver tangible benefits for communities across the UK. We’re facing an urgent climate emergency and need to see rapid progress if we’re to meet our net zero targets. Building on its history of impact investing, working with TopCashback Sustainability means we can increase the number of projects we fund, ultimately helping to accelerate our transition to a cleaner, fairer energy system.”

Matthew Clayton, Managing Director, Thrive Renewables

The partnership will also allow TopCashback Sustainability to continue building its impact investment portfolio. This includes the likes of Highlands Rewilding – a project aimed at re-wilding and re-peopling the Scottish Highlands by increasing biodiversity, green jobs and more – and funds deposited with Tribe Impact Capital, a wealth manager which helps TopCashback make impact investments.

“We are delighted to be embarking on this long-term journey with Thrive and look forward to seeing what incredible work can be achieved over many years. As a company, as well as our mission to ‘Save our Members the Most Money’, we strive to have a positive impact on the wider world.  Thinking ahead for our members’ futures means environmental initiatives are more crucial than ever.”

Oliver Ragg, CEO and co-founder, TopCashback

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