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Latest news

The new initiative, Community Energy Catalyst, will support local communities to build their own clean energy infrastructure or secure stakes in larger regional renewable energy schemes. Fair Play Clean Energy, Thrive’s existing joint venture with Top Cashback Sustainability Ltd, will provide £20 million of the investment, with Better Society Capital providing matched funding.
Community Energy Catalyst will make investments ranging between £0.5 million to £30 million in individual projects which are at least 1MW in size and employ proven technologies such as onshore and offshore wind, solar PV and hydro-electric. The joint venture will target late-stage development projects that have already secured planning consent, enabling them to advance through to construction, commissioning and operation while aligning with local objectives.
As well as funding, Thrive brings 30 years of experience financing, building and operating clean energy projects in the UK, and will provide support to community energy groups during key milestones such as procurement and grid connection.
When we created our award-winning community funding bridge in 2017, it was the first of its kind. Eight years later we’ve invested over £21 million into seven community energy projects, including £4 million to build England’s largest onshore wind turbine, which is 100% owned by the community in our home city of Bristol.

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Funding partnership with Better Society Capital will help more communities to own their own projects or take a stake in a larger project in their local area.

We’re partnering with the UK’s leading social impact investor to mobilise £40 million for community-owned energy projects

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The challenge is that changing the energy system takes time, so taking a long view is essential. It was positive to see that the strategy aligned with how we’re going to achieve net zero, recognising the important role renewables will play in ending our reliance on fossil fuels and lowering the cost of energy. In fact, the government stated that 95% of the country’s electricity could come from low-carbon sources by 2030 – five years ahead of its existing aim of decarbonising the grid by 2035. It largely focused on nuclear power and offshore wind, however, and missed obvious, shorter-term solutions such as improving energy efficiency and utilising onshore wind.
Below are some of our biggest takeaways from the strategy and what this means for increasing energy security, helping with fuel poverty and tackling the climate crisis.
<h3>Solar power</h3>
The government has stated that it will look to increase the UK’s current 14GW of solar capacity, with the potential to grow this up to 5 times by 2035. Alongside onshore wind, solar is one of the quickest and cheapest ways to generate clean power, but there were no concrete targets or details, other than the need to explore both large-scale projects and rooftop solar panels. Commercial rooftop solar arrays can help businesses to reduce energy bills and decrease their carbon footprint. We’ve been working with Olympus Power since 2020, building on our ‘direct wire’ approach where businesses benefit financially and environmentally from the electricity they generate on site.
In response to the strategy, Solar Energy UK stated that a five-fold increase in generation would help support 60,000 green jobs. However, to achieve this there has to be ‘significant investment in grid infrastructure and further reforms to planning to expedite new solar projects’.
<h3>Onshore wind </h3>
Prior to the strategy, we supported RenewableUK (RUK) in its calls for a tangible target around onshore wind. According to RUK, doubling the UK’s capacity to 30GW by 2030 would reduce consumer bills by £16.3 billion, generate £45 billion of economic activity and create 27,000 full-time jobs in the UK. Analysis by Carbon Brief has also revealed that wind and solar generation is now <a href="https://twitter.com/DrSimEvans/status/1501556278115676163">six times cheaper than UK gas generation.</a>
Despite claims to the contrary, wind turbines are popular with the public, much more so than nuclear. In fact, public attitudes data from BEIS has found that 80% are supportive of building new onshore wind capacity, compared to 37% with nuclear<a href="#_ftn1" name="_ftnref1">[1]</a>. It was therefore really disappointing to see the government miss a huge opportunity to unleash the power of onshore wind. Instead of supporting widespread acceleration through changes to planning regulations, the government has said that it will be consulting on how to develop partnerships with ‘a limited number of supportive communities who wish to host new onshore wind infrastructure in return for guaranteed lower energy bills’.
The problem with this is that the planning restrictions introduced under David Cameron in 2015 have made building new onshore wind almost impossible for communities in England because they have to show that the site is designated for onshore wind development and is stated so in the local plan. Research by Dr Rebecca Windemer, lecturer in environmental planning at the University of West England, found that new wind farms <a href="https://info.uwe.ac.uk/news/UWENews/news.aspx?id=4220">can’t be developed in 89% of local authorities in England</a>. Given the very ambiguous wording shared in the strategy, it will be interesting to see how this consultation plays out and what changes they will be making to support those wanting to host onshore wind projects. Our work for the last 25 years has been helping people meaningfully connect with renewable energy and we will be doing everything we can to open up opportunities for communities looking to generate their own power from wind.
It&#8217;s worth mentioning that it wasn’t all doom and gloom for onshore wind. The government did mention that it will look at arrangements to support the repowering of existing onshore wind sites, which we consider to be a crucial component in decarbonising the energy system.  Again, quite how this unfolds is yet to be seen but repowering and life extension has the potential to generate much more power. We undertook the exercise at our Caton Moor wind farm, replacing ten old turbines with eight more modern, efficient machines. As a result, we were able to increase generation sevenfold to 47 million units of electricity per annum.
<h3>Battery storage</h3>
The ramping up of renewables has knock-on effects for storage innovation, with the government stating that within the decade we will need to prioritise ‘hyper-flexibility in matching supply and demand so that minimal energy is wasted’. It claims that a more efficient, responsive system could bring costs down by up to £10 billion a year by 2050.
To enable this flexibility, the strategy also states that the government will ‘encourage all forms of flexibility with sufficient large-scale, long-duration electricity storage to balance the overall system by developing appropriate policy to enable investment’. Again, there is a lack of clear targets but it’s positive to see acknowledgement of battery storage and the role it plays in balancing out the variability of renewable sources such as wind and solar. In addition to the 5MW battery we built in 2021, we’re commencing construction of a 20 MW site at Feeder Road in Bristol, which will have the capacity to deliver 1.5 hours or 30MWh of electricity to the national and local grid. The benefit of smaller scale projects like this is that they can be developed relatively quickly and can work in tandem to operate as a single, distributed power plant.
It’s important to note that there were also positives around geothermal, offshore wind and floating wind, but the strategy was less of a detailed action plan and more of a list of woolly ‘ambitions’. We remain committed to informing these conversations as we move forwards.
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<a href="#_ftnref1" name="_ftn1">[1]</a> <a href="https://www.gov.uk/government/collections/public-attitudes-tracking-survey">https://www.gov.uk/government/collections/public-attitudes-tracking-survey</a>

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Following soaring wholesale gas prices, the government has published its energy security strategy. Below we digest the key takeaways and what it means for the future roll-out of renewables in the UK.

Energy security strategy – A disappointing result for onshore wind, but there’s still reasons to be hopeful

At Thrive, we recognise the important role battery storage has to play and are busy building our second project &#8211; a 20 MW site &#8211; in Bristol.
Read more about the background to the project (it involves a campaign to stop 48 diesel generators being built near a local nursery school!) and what it means for net zero in <a href="https://www.positive.news/society/a-key-piece-of-the-puzzle-for-a-more-energy-secure-uk-storage-and-more-of-it/" target="_blank" rel="noopener">our article with Positive News.</a>

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Wicken

Thrive’s Managing Director, Matthew, and Investment Manager, Tom, sat down with Positive News to talk about our battery projects and why they are so critical to the energy system of the future.

A key piece of the puzzle for a more energy-secure UK? More storage!

The reserve is located near our Drumduff wind farm, so we were thrilled to be invited to the opening of the boardwalk extension, which our site helped to fund. As part of the event, NatureScot invited some local schoolchildren down to cut the hand-crafted ribbon and it was fantastic to see how engaged and excited they were to be exploring the natural area.

The funding helped to extend the existing boardwalk by 170 metres, creating more paths and links for the local community and visitors to enjoy. There was also a lot of support from local volunteers, including Scotland’s Rural College students from Oatridge, who lay over a thousand anti-slip strips. NatureScot is now planning a second phase, which will see the boardwalk extended a further 280 metres this year.
Made up of raised bogs, the nature reserve plays an important role in reducing carbon emissions. This is because each raised bog contains 1,000 years’ worth of accumulated plant material that can’t rot down – also known as peat. Peat contains a considerable amount of carbon and so, to prevent it being released into the atmosphere, the reserve must be kept waterlogged.
Co-owned by nearby renewable energy developer, GreenPower, Drumduff wind farm is made up of three turbines and built on an old, disused open cast coal mine to the north of Blackridge in West Lothian, Scotland. At 6 MW, it has the capacity to generate enough renewable electricity to meet the annual demand of over 5,000 homes.

We took a trip up to Scotland to see how funding from our Drumduff wind farm is being put to good use.

Return to the wild: Funding future exploration at Blawhorn Moss National Nature Reserve

I had a great time while I was there, catching up with various industry contacts, attending a dinner at the Hawthorn Club – an international network for women working within the energy industry – and speaking on an alternative funding panel at the Energy Storage Summit. It was fantastic to hear about all the innovation and progress happening within the sector and a real buzz to be back meeting people in the city again.
Because of this, I’m starting the week by catching up with my team and reviewing the generation figures across our portfolio. We currently fund, own and operate 22 clean energy projects and it’s been a very windy week. This means figures are particularly high – especially for our wind farms – and I need to make sure it’s reflected in our financial modelling. This is what helps us to make important investment decisions, mapping all the cash flows and financing on a project-by-project basis.
The Intergovernmental Panel on Climate Change (IPCC) has published its second report into global climate change and it paints a bleak picture. At Thrive, we’ve been building renewable projects since 1994 so we’re very much focused on action. It will be interesting to see how the story unfolds over the week and whether there’s a clear roadmap for next steps.
On Tuesday, I have various calls in the diary – I’m particularly looking forward to one with a community group we’re working with. We engage with local communities in lots of different ways and it’s an exciting and rewarding part of the job as I know we’re working towards a common goal of reducing carbon emissions and tackling climate change. Once built, the project will not only help add more renewable capacity to the local and national grid but will also deliver multiple benefits for the community.
Tuesday and Wednesday is spent in the office. It feels good to reconnect with colleagues in person after a week out and about, and one of my team is travelling in especially from London. We share a building with our friends at Triodos Bank, it’s BREEAM certified and one of the most sustainable in Bristol, which helps to keep me inspired. Today I am following up on invites to Regen’s Green Energy Awards at the end of the month. We’re one of the sponsors for the event and I’m really looking forward to hosting a table alongside our MD, Matthew. With the IPCC report still fresh, it’s nice to look forward to an event that focuses more on the positive and showcases the achievements within the sector.
Thursday and Friday flies by. I’m going to be speaking on a webinar with smart grid technology company, GridBeyond, in a few weeks which is exciting. I have a planning call alongside the other panellists. I’m going to be drawing on Thrive’s experience of funding and building our first 5MW battery project – Wicken – which is now operational, as well as our 20MW battery that is currently in construction at Feeder Road in Bristol. Storage is going to be critical for the UK’s clean energy future, helping to balance out the variability of natural resources such as sun and wind. It’s something that the industry is really focused on right now as part of our transition from fossil fuels, so it’s important for Thrive to be represented.
As Friday draws to a close, there’s lots to look forward to. Next week is International Women’s Day and a group of us are getting together to join the Institute of Directors (IODs) women’s leadership conference, with renowned ethologist and activist Dr Jane Goodall DBE as one of the keynote speakers. It’s also B Corp month so we’ll be inviting our stakeholders to get #BehindtheB and find out what being a B Corp is really about. I’ll finish it there!

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Monika Paplaczyk Thrive Renewables

Our Investment Director, Monika, gives you a glimpse into what it’s really like to work for a renewable energy company.

#BehindTheB: A week in the life of our Investment Director

While the nature of our business means that we’re environmentally conscious, we know that there’s always more we can do to continue reducing our impact. We began the B Corp certification process in 2020, joining the 600+ global B Corps worldwide prioritising environmental and social justice. In fact, we went one step further and were awarded ‘Best in the World’ status last year, meaning that we score within the top 5% of all global B Corps for our commitment to the environment.
To celebrate B Corp Month, we’re inviting you #BehindtheB – giving you a glimpse into why we do what we do and how B Corps such as Thrive are bringing benefits to all.
Here’s what some of our people have to say about working for a B Corp and what it means to them.
<img loading="lazy" decoding="async" class="aligncenter wp-image-6605 size-large" src="/wp-content/uploads/2024/05/Matthew-B-Corp-TW-1024x576.png" alt="" width="1024" height="576" srcset="https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2024/05/Matthew-B-Corp-TW-1024x576.png 1024w, https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2024/05/Matthew-B-Corp-TW-300x169.png 300w, https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2024/05/Matthew-B-Corp-TW-768x432.png 768w, https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2024/05/Matthew-B-Corp-TW.png 1200w" sizes="auto, (max-width: 1024px) 100vw, 1024px" />
<img loading="lazy" decoding="async" class="aligncenter wp-image-6604 size-large" src="/wp-content/uploads/2024/05/Louise-B-Corp-TW-1024x576.png" alt="" width="1024" height="576" srcset="https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2024/05/Louise-B-Corp-TW-1024x576.png 1024w, https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2024/05/Louise-B-Corp-TW-300x169.png 300w, https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2024/05/Louise-B-Corp-TW-768x432.png 768w, https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2024/05/Louise-B-Corp-TW.png 1200w" sizes="auto, (max-width: 1024px) 100vw, 1024px" />
<img loading="lazy" decoding="async" class="aligncenter wp-image-6601 size-large" src="/wp-content/uploads/2024/05/Monika-B-Corp-TW-1024x576.png" alt="" width="1024" height="576" srcset="https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2024/05/Monika-B-Corp-TW-1024x576.png 1024w, https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2024/05/Monika-B-Corp-TW-300x169.png 300w, https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2024/05/Monika-B-Corp-TW-768x432.png 768w, https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2024/05/Monika-B-Corp-TW.png 1200w" sizes="auto, (max-width: 1024px) 100vw, 1024px" />
<img loading="lazy" decoding="async" class="aligncenter wp-image-6603 size-large" src="/wp-content/uploads/2024/05/Jack-B-Corp-TW-1024x576.png" alt="" width="1024" height="576" srcset="https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2024/05/Jack-B-Corp-TW-1024x576.png 1024w, https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2024/05/Jack-B-Corp-TW-300x169.png 300w, https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2024/05/Jack-B-Corp-TW-768x432.png 768w, https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2024/05/Jack-B-Corp-TW.png 1200w" sizes="auto, (max-width: 1024px) 100vw, 1024px" />
<img loading="lazy" decoding="async" class="aligncenter wp-image-6602 size-large" src="/wp-content/uploads/2024/05/Alex-B-Corp-TW-1024x576.png" alt="" width="1024" height="576" srcset="https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2024/05/Alex-B-Corp-TW-1024x576.png 1024w, https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2024/05/Alex-B-Corp-TW-300x169.png 300w, https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2024/05/Alex-B-Corp-TW-768x432.png 768w, https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2024/05/Alex-B-Corp-TW.png 1200w" sizes="auto, (max-width: 1024px) 100vw, 1024px" />
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Want to find out more about B Corp or join the movement? Find out more here: <a href="https://bcorporation.uk/">https://bcorporation.uk/</a>

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To celebrate B Corp month, we’re inviting you behind the scenes at Thrive to find out why we’re choosing to put people and the planet first. 

#BehindtheB: Stories from a renewable energy company

The scheme works by providing clean energy generators with a stable, pre-agreed price for 15 years, ultimately providing the revenue certainty needed to kickstart renewable development. Wind, solar or other renewable projects can bid in the auction and the winners are those who offer to supply at the lowest price – the ‘strike price’. As well as supporting the renewables industry, these price mechanisms protect bill payers from price shocks and ensure they get the best value for money as the cost of renewables continues to decrease. In instances where prices are higher than the ‘strike price’, the generators pay back, with wind and solar farms paying £157 million to households in the final quarter of 2021 as prices spiked due to the ongoing global gas crisis.
Announcing the move, the UK’s Business and Energy Secretary Kwasi Kwarteng said “We are hitting the accelerator on domestic electricity production to boost energy security, attract private investment and create jobs in our industrial heartlands. The more clean, cheap and secure power we generate at home, the less exposed we will be to expensive gas prices set by international markets.”
Confirmation that CfD auctions will take place annually is especially important given the volatile state of the global energy market, with the transition to renewables helping to end the UK’s reliance on harmful and expensive fossil fuels. It provides renewable developers with price certainty, but are yearly auctions enough to build the new capacity required to reach net zero?
<h3>What else is needed?</h3>
Moving to annual CfD auctions is a major step forward, and there is huge appetite to build more projects, accelerate the transition to net zero and protect ourselves from future price shocks. But there are still obstacles to getting projects built, for example the planning policies surrounding certain clean technologies in England.
To stay in reach of the current targets, industry body RenewableUK suggests that we need to <a href="https://www.renewableuk.com/news/583055/Industry-urges-Government-to-set-new-target-to-double-UK-onshore-wind-capacity-by-2030.htm">double the current onshore wind capacity to 30 GW by 2030.</a> This would save around 6 million tonnes of carbon emissions a year, the equivalent of removing 1.1 million cars from the road annually. But to achieve this, we need to see the government overhaul the planning process so that developers can better work with local authorities and communities.
Currently, new onshore wind applications in England must demonstrate that the project is sited within an area designated for wind development and is stated so in the local plan. <a href="https://policy.friendsoftheearth.uk/reports/onshore-wind-its-delivery-being-hampered-lack-identified-areas-local-plans">Analysis by Friends of the Earth</a> in 2019 found that – of the 20 sample plans – 12 did not identify suitable areas for wind development, stating either that they are not identifying such areas or will leave it for prospective Neighbourhood Plans to identify local areas or sites. The consequence of this is that there has been little deployment of new onshore wind since the changes were introduced in 2015.
As part of the government’s CfD announcement in November, onshore wind and solar were included within a modest allocation of £10 million, despite strong public support for the technology. In fact, new polling conducted by Survation and published by RenewableUK revealed that 72% want the Government to set a long-term target for onshore wind. To overcome the planning obstacles and small CfD allocation, developers could focus instead on the repowering of existing wind farms. There is also a conversation to be had about whether the industry should be able to run without the need for CfDs at all, especially as they are only viable for larger projects. We believe that small to medium scale, localised clean energy projects are just as important. In fact, a third of onshore renewables are below 20MW<a href="#_ftn1" name="_ftnref1">[1]</a>, so how can we ensure these still get built?
We are working with other business models alongside the CfDs, such as corporate power purchase agreements or ‘direct wire’ arrangements where solar and wind projects are installed on site at an industrial host. Routes like ‘direct wire’ not only present businesses with a solution to managing energy costs in a volatile marketplace, but offer environmental incentives too, as they benefit from the renewable energy generated on site. Developers could also take a hybrid approach, which would require them to bid for part of their generation into the CfD and part exposure to the market, creating a ‘price hedge’ at a portfolio or project level. Establishing additional options for routes to market will ultimately accelerate the much-needed deployment of new renewable electricity generation projects.
While annual auctions will absolutely help with providing certainty around new renewable development, more must and can be done to ensure enough capacity is built for net zero, especially as the UKs electricity demand is projected to increase by almost 40% by 2035. Investing in clean technologies is the fastest, cheapest way to end our reliance on fossil fuels.
<a href="#_ftnref1" name="_ftn1">[1]</a> Renewable energy planning database March 2020.  <a href="https://www.gov.uk/government/publications/renewable-energy-planning-database-monthly-extract">https://www.gov.uk/government/publications/renewable-energy-planning-database-monthly-extract</a>

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The government recently announced that it will move to annual CfD auctions from 2023.

Annual clean energy auctions provide certainty needed to roll out renewables

The site has the capacity to deliver 1.5 hours or 30 MWh of electricity to the national and local grid, connecting enough capacity to power <a href="https://www.renewableuk.com/page/UKWEDExplained" target="_blank" rel="noopener">14,771 typical UK homes</a>.
The project brings together a number of Bristol-based businesses including developer, Aura Power, as well as renewables consultancy, Everoze, which is acting as a technical advisor.
G2 Energy has been awarded the engineering, procurement and construction (EPC) contract, while Trina Storage will be supplying the physical battery system.

With gas prices soaring, storage projects like Feeder Road have a huge role to play in the future energy system, ensuring the electricity from renewable sources such as wind and solar, which is significantly cheaper than gas, is available at peak times when it is most needed.
Battery projects work by storing electricity when it’s at its cheapest and most abundant – for example, when the wind is blowing or sun is shining – and releasing it when consumer demand peaks. Once operational, Feeder Road will take part in half-hourly capacity market auctions, providing frequency response and balancing services to the National Grid and local distribution network. This need has historically been met by gas and diesel fuelled power stations.
Feeder Road is the second battery project in Thrive’s portfolio, with our 5MW site – Wicken – commissioned in December and already delivering 1.49 hours or 7.45MWh of electricity to the national and local electricity grid. Our portfolio now spans the clean technology mix, featuring onshore wind, hydro, solar, geothermal and renewable heat in addition to Wicken and Feeder Road.

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Contracts have now been signed for the construction and delivery of the battery and associated works, with construction expected to start in the Spring.

Thrive completes 20MW battery deal – our largest to date

However, new analysis from Carbon Brief has found that energy bills are nearly £2.5 billion higher than they would have been if certain climate policies had been pushed through – such as allowing new onshore wind to be built in England and keeping the zero-carbon homes standard.
But why are gas prices having such a huge impact on the UK energy market and how can investing in clean technologies help lower prices?
<h3>How the energy market works </h3>
Energy suppliers in the UK buy the electricity they sell in bulk from the wholesale market. The reason that gas has such an impact on electricity bills is because we still use it to generate a third of our electricity. Suppliers and generators trade electricity in half-hourly auctions, with the National Grid responsible for matching supply and demand by accepting bids or offers depending on whether they need to increase or reduce electricity generation. Bids are stacked in order of the least expensive generators to provide the power until the demand is met.
As gas is one of the more expensive ways to generate power, and is quite flexible in the amount it generates, gas plant tends to the be the last plant in the auction and therefore set the price.
Since last year, we’ve seen a worldwide shortage of gas supplies, which in turn has caused wholesale gas prices to rise to unprecedented levels. Alongside a shortage in supply, there’s been a perfect storm of issues – a combination of extreme weather, demand growth unexpectedly high post Covid and a lack of storage capacity, particularly in the UK.
Now we’re seeing soaring wholesale gas prices have a ripple effect on electricity prices, with suppliers having to increase consumer bills. The UK energy regulator – Ofgem – has increased the energy price cap, with more changes expected in the coming month.
<h3>What are the solutions to curb increasing prices?</h3>
While there have been calls to cut green levies, new data is showing the positive impact these programmes are having. In fact, the government’s Contract for Difference (CfD) scheme – which aims to support renewable growth by providing generators with a stable, pre-agreed price for 15 years – recorded positive returns at the end of last year. Wholesale electricity prices were so high in July to September 2021 that they surpassed CfD strike prices, and the payments reversed direction for the first time, returning £39.2 million in funds.
While this proves that renewables helps curb energy price rises, in the longer term it can be argued that the market should be able to run without the need for CfDs, especially as they are unlikely to cater for smaller, sub 5 MW projects.
There are other business models which support the renewable growth needed to end our reliance on gas in the UK. This includes corporate power purchase agreements, which allow businesses to purchase electricity directly from an energy generator at a fixed price, and direct wire arrangements. A direct wire arrangement is when a clean energy project – for example, a wind turbine or rooftop solar PV array &#8211; is built within the commercial premises, with the host business directly consuming the clean energy it generates.
Alongside alternative business models, we also need to see substantial growth in the UK’s storage capacity, which will help balance out the variability of natural resources such as sun and wind. In December, we commissioned our first battery project near Milton Keynes, a 5MW site that is delivering 1.49 hours of electricity to the national and local electricity grid, while we also have a 20MW site in Bristol that will be commissioned later this year.  Electricity storage, be it battery, pumped storage or dammed hydro provide sustainable solutions to balance demand and supply, further reducing our reliance on gas.
The UKs electricity demand is projected to increase by almost 40% by 2035<a href="#_ftn1" name="_ftnref1">[1]</a> as heating and transport transitions from fossil fuels to electricity. This creates an opportunity to deliver 60 to 80GW of renewable electricity generation capacity.
The benefits of investing in clean technologies are vast, not least because renewables are much faster to deploy than the alternatives. For example, in the two years (2016 and 2017) spent moving soil and laying the foundations at Hinkley Point C, enough new renewable capacity was commissioned to deliver power equivalent to the nuclear site’s total planned generation (22GWh annually) which is due to commence generation in 2026.
Ultimately, the way to avoid energy price shocks in future is to keep supporting the roll-out of clean technologies and implement stronger policies on energy efficiency, reducing the amount of energy we need. In doing so, we not only reduce consumer bills but build a solid path towards net zero.
<a href="#_ftnref1" name="_ftn1">[1]</a> https://www.theguardian.com/business/2021/oct/05/the-uk-2035-net-zero-electricity-target-how-could-it-be-achieved

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TIDE &amp; ISE 2018

Renewables are faster to deploy than fossil fuels and technologies such as battery storage help balance the variability of wind and solar.

Energy prices explained: How clean technologies can help reduce bills

As some of the biggest emitters in the UK, this is certainly the case for businesses. In fact, according to a report from Sky and WWF, companies are responsible for two-thirds of the UK’s domestic land-based emissions every year, with large businesses accounting for the largest proportion of these. It suggests that, unless all large businesses in the UK draw up and implement plans to decarbonise in line with the 1.5C trajectory within the next two years, we risk missing our long-term net zero targets.
Of course, some businesses will have more work to do than others but it’s important to remember that being environmentally and socially conscious is a continuous journey and, importantly, one that your customers, shareholders and employees will thank you for embarking on. Below we explore some of our green new year’s resolutions for companies looking to prioritise sustainability in 2022.
<h3>1. Develop a net zero strategy</h3>
For all of us, the race to zero is now unavoidable. In fact, in the words of Mark Carney: “Firms that adjust their business models to the transition to net zero will be rewarded handsomely. Those that fail to adapt will cease to exist.”
When making any net zero commitments, businesses must first evaluate the different kinds of carbon emissions they create as part of their own operations, as well as the wider supply chain. Without collecting adequate data, you will be unable to set realistic targets or track your progress in meeting them.
For example, we calculated that – in 2020 – our direct carbon emissions (scopes 1 and 2) was 2.6 tonnes, compared to the average UK citizen which has a carbon footprint of 10.4 tonnes of carbon emissions per year. While this is already low, 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 by 2030.
For many businesses, making changes under scope 1 and 2 is the easiest way to start reducing emissions and there are many resources available to support you with this, including the <a href="https://unfccc.int/climate-action/race-to-zero-campaign">United Nations&#8217; Race to Zero campaign.</a>
<h3>2. Join the B Corp community</h3>
B Corporations are businesses that meet the highest standards of social and environmental performance, public transparency, and corporate accountability to balance profit and purpose. Alongside establishing yourself as a true leader in your market, there are multiple benefits to certification: committed and motivated employees, increased customer loyalty and higher levels of innovation.
As one of the UK’s first mission driven businesses, Thrive was founded 26 years ago to help power the UK’s transition to clean energy, with the ultimate aim of reducing carbon dioxide pollution to avoid dangerous climate change. We’re proud to say that we certified as a B Corp at the start of 2021 and haven’t looked back since. You can find out more information about the movement and how to start the certification process <a href="https://bcorporation.uk/">here</a>.
<h3>3. Switch to 100% renewable energy or host an on-site renewable project </h3>
Switching to 100% renewable energy can go a long way in helping you reach your net zero targets, as well as provide significant bottom line and reputational benefits.
While there are many renewable energy suppliers in the UK you could engage with, it’s worth noting that you could also benefit from renewable power generated directly on-site. Hosting your own renewable project – for example, a wind turbine or rooftop solar array – can help you manage your energy costs in an increasingly volatile marketplace.
As seen recently, fossil fuels are often subject to extreme changes in supply and demand. Using renewable sources of electricity is therefore a way to provide the stability needed, giving you the opportunity to secure long-term, consistent energy prices which are typically cheaper than connecting to the grid.
<h3>4. Improve your energy efficiency</h3>
Using energy wisely is another way to cut your carbon footprint. There are plenty of things you can introduce in the workplace to ensure you consume energy more smartly. For example, switching your lights to LEDs and ensuring you turn your technology off at the end of the day. Although they sound small, these changes are all important steps in reducing your total emissions.
<h3>5. Offer staff green incentives</h3>
When it comes to ensuring your green initiatives are followed, it’s critical that you engage your workforce as early in the process as possible. They need to understand what is expected of them and why it’s important – not only in the context of the business but as part of a wider sustainable society.
You can further motivate your employees by incentivising green alternatives. For example, we offer a bike to work scheme and are also signed up to Climate Perks – a scheme that enables us to offer paid &#8216;journey days&#8217; to empower staff to choose low-carbon holiday travel.
Businesses are now facing increasing pressure from consumers, investors and employees to look beyond profit and recognise the power of purpose. And, while it’s really positive to see the number of UK companies making sustainability a priority, there’s always more that can be done. True sustainability is a journey, not a destination.

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caton winter 2

Looking to become more sustainable in 2022? Here’s some of our top tips to help further reduce your business’ impact in the next 12 months and beyond.

New year, same planet: Our green resolutions for conscious businesses

It was great to see first-hand the impressive work that goes into constructing a rooftop solar array, with small-scale decentralised energy generation such as this forming a key part of the UK’s net zero journey.
There is a strong business case for on-site renewables – not only does it help get more renewable capacity built in the UK, but the host company will benefit directly from the clean electricity it produces.
At this particular site, the rooftop solar PV panels will be used to generate around one third of the company’s total electricity needs with any surplus exported to the local electricity grid, reducing losses.

While this particular project takes its power from the sun, other businesses could also look at technologies such as onshore wind and battery storage or co-locating a mix of different technologies. As we’ve seen with the recent gas crisis in Europe, fossil fuel prices can be extremely volatile. Developing an on-site wind turbine, for example, can help businesses to better manage their energy costs at the same time as improving their environmental footprint.
What makes a premises suitable? As you’ll see from the images, a large rooftop for solar PV is advantageous but all you really need is access to good levels of natural resource. For example, a location with abundant wind.

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IMG_2813

We joined the team from Olympus Power as they completed construction of an on-site solar PV project for a manufacturing company in Birmingham. 

On top of a 1MW solar PV project

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

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

Community spaces provide a friendly meeting place for local people but are often cold, draughty and expensive to heat. It’s important to help the volunteers who manage these social hubs take practical measures to improve energy efficiency, so that they can reduce costs and keep them warm throughout the winter.  
Community buildings located within a 20 mile radius of one of Thrive’s clean energy projects can apply for grants of up to £4,500 to make energy efficiency improvements. Applicants will be asked to complete a full energy survey of the shared building using guidance supplied by CSE. This will help to identify potential improvements, including zero-cost measures, and calculate carbon and cost savings for different options. Applications will remain open until 24th September 2024. <a href="https://www.cse.org.uk/my-community/community-projects/thrive-renewables-community-benefit-programme/" target="_blank" rel="noopener">Full details on how to apply</a> can be found on CSE’s website.

Now in the eighth round of funding, the programme has awarded 61 grants to 53 community buildings, totalling over £190,000. These improvements save over 85 tonnes of carbon dioxide each year.  
In 2023, grants were awarded to ten community buildings across the UK, including Debenham Shed located near Eye Wind Farm in Suffolk. Debenham Shed aims to improve mental health for retired men and women who may otherwise struggle with loneliness or isolation, by providing workshop facilities with tools and materials for people to connect, converse and create. They used the grant to improve heating and insulation to continue running their workshop comfortably throughout the winter.
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 <img loading="lazy" decoding="async" class="alignnone size-medium wp-image-7109" src="/wp-content/uploads/2024/07/Debenham-shed-300x225.jpg" alt="" width="300" height="225" srcset="https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2024/07/Debenham-shed-300x225.jpg 300w, https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2024/07/Debenham-shed.jpg 650w" sizes="auto, (max-width: 300px) 100vw, 300px" />

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image for news story

Community buildings neighbouring our clean energy projects can apply for grants of up to £4,500 to make energy efficiency improvements. 

Helping communities cut carbon and costs – Thrive launches round eight of Community Benefit Programme

All resolutions were passed with a significant majority, and it was inspiring to have <a href="https://www.lse.ac.uk/GranthamInstitute/profile/nick-robins/" target="_blank" rel="noopener">Professor Nick Robins</a> from the Grantham Research Institute on Climate Change and the Environment join us for a fireside chat on navigating a just energy transition.

After the meeting, we invited shareholders to visit the community owned ACE wind project. We are extremely proud to have invested £4 million to fund the construction of this turbine &#8211; England&#8217;s largest. It was particularly special to visit the site just ahead of <a href="https://www.communityenergyengland.org/pages/community-energy-fortnight" target="_blank" rel="noopener">Community Energy Fortnight</a> which celebrates the importance of community-led energy projects just like this. Thrive are proud to be sponsoring the two week campaign run by Community Energy England for the fourth year running.
On site, Mark Pepper, Development Manager at Ambition Lawrence Weston, the charity that formed ACE, shared the inspiring story behind the project, which is owned by the local community. Profits generated from the turbine will be reinvested back into the local area at Lawrence Weston, Bristol, acting as a driver for regeneration. ACE also plan to build an Energy Learning Zone to inspire young people and provide training to upskill residents for zero carbon careers.

It was also great to have Darren Jones, Chief Secretary to the Treasury, join us for the visit.

Darren Jones, Chief Secretary to the Treasury, speaking to shareholders at ACE wind turbine 

ace_june_2024-15

ACE_June_2024-15

Following our Annual General Meeting (AGM), shareholders visited the Ambition Community Energy (ACE) wind turbine in the countdown to Community Energy Fortnight. 

‘Just transition’ brought to life at AGM with a visit to England’s largest community owned onshore wind turbine

Last year Thrive provided community energy group, ATTIX CIC, with a loan of £4 million to enable them to press on with construction. We recently headed up to Scotland to spend time on site with Allan and Scott Wilson from Radio City Association, who founded Attix CIC as part of their mission to develop community owned renewable energy assets and other community initiatives in the Garnock Valley.
The community have already overcome multiple challenges, so it was rewarding to see their efforts coming to fruition as construction progresses. During our visit, we got to see some of the project infrastructure already in place, including the completed access track – ready for the turbine to be installed in the Autumn.

Once operational, the turbine will have the capacity to generate 7,839 MWh of clean electricity per year, the equivalent of powering 2,234 average UK homes, and will also deliver 3,324 tonnes of carbon emissions reductions annually. Profits from electricity sales will be reinvested back into the local area, which could include local sports and recreational facilities, as well as supporting the refurbishment of the Knox Institute building – a one-time important community hub. One of their recent initiatives which we were also able to see was a cycle path to connect the area better with the rail station. In the future the profits from the wind turbine will be able to fund similar initiatives.
Thrive’s funding is complemented by a £1.6 million investment from responsible finance provider, Social Investment Scotland, as part of a blended finance package, while Local Energy Scotland supported the project through planning and design with funding via the Scottish Government’s Community and Renewable Energy Scheme (CARES).
This project is a great example for other community groups in Scotland and we were proud to see it featured in presentations and discussions at this year’s All Energy conference, one of the UK’s largest annual gatherings of professionals in the renewables space.
Construction of the project is expected to be completed by the end of this year.
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<img loading="lazy" decoding="async" class="aligncenter wp-image-6881 size-large" src="/wp-content/uploads/2024/06/Kil-32-768x1024.jpg" alt="" width="768" height="1024" srcset="https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2024/06/Kil-32-768x1024.jpg 768w, https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2024/06/Kil-32-225x300.jpg 225w, https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2024/06/Kil-32-1152x1536.jpg 1152w, https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2024/06/Kil-32-1536x2048.jpg 1536w, https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2024/06/Kil-32-scaled.jpg 1920w" sizes="auto, (max-width: 768px) 100vw, 768px" />

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