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kessingland

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As well as being our largest project to date, the deal marks another major step in our ambitious growth plans to double generation capacity within the next five years. It is the second project to be funded by Fair Play Clean Energy Ltd, Thrive’s Joint Venture with TopCashback Sustainability, which brings together a combined £80 million in capital to fund new clean energy projects in the UK.
Construction of the proposed 14-turbine site is expected to start in 2025, with commissioning planned by the end of 2026. Once operational, it will be capable of generating up to 149,400 MWh of clean electricity per year, the equivalent of powering 46,100 average UK homes<a href="#_ftn1" name="_ftnref1">[1]</a>, and delivering 65,300 tonnes of emissions reductions<a href="#_ftn2" name="_ftnref2">[2]</a>.
The Whitelaw Brae wind project was originally owned by developer, BayWa r.e., with Thrive acquiring the project in December 2024 following the successful completion of a competitive tender in October 2024.
Thrive has a record of delivering community and shared ownership, both at our own sites and by providing funding for community-owned energy projects. Now, we’ve acquired Whitelaw Brae, we aim to facilitate shared ownership at this site with Ripple Energy&#8217;s latest coop.

The wind farm site is located 15 km north of Moffat and 3 km south of Tweedsmuir. It is also near the River Tweed which, as part of the £25 million Destination Tweed initiative, will see the creation of a 113-mile source to sea River Tweed Trail connecting communities and attractions along the length of the river from Moffat to Berwick-upon-Tweed. The project aims to improve the landscape and river habitat and offer a unique experience to locals and visitors alike, expected to be completed across five years.  
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[1] Based on an annual generation of 149GWh and calculated using the most recent statistics from the Department for Energy Security and Net Zero (DESNZ) showing that UK average domestic household consumption is 3,239kWh per annum <a id="menur1gr" class="fui-Link ___1q1shib f2hkw1w f3rmtva f1ewtqcl fyind8e f1k6fduh f1w7gpdv fk6fouc fjoy568 figsok6 f1s184ao f1mk8lai fnbmjn9 f1o700av f13mvf36 f1cmlufx f9n3di6 f1ids18y f1tx3yz7 f1deo86v f1eh06m1 f1iescvh fhgqx19 f1olyrje f1p93eir f1nev41a f1h8hb77 f1lqvz6u f10aw75t fsle3fq f17ae5zn" title="https://www.renewableuk.com/energypulse/ukwed/" href="https://www.renewableuk.com/energypulse/ukwed/" target="_blank" rel="noreferrer noopener" aria-label="Link https://www.renewableuk.com/energypulse/ukwed/">https://www.renewableuk.com/energypulse/ukwed/</a>
[1] Calculated using DESNZ’s “all non-renewable fuels” emissions statistic of 437 tonnes of carbon dioxide per GWh of electricity supplied in the Digest of UK Energy Statistics (July 2024) <a id="menur1gt" class="fui-Link ___1q1shib f2hkw1w f3rmtva f1ewtqcl fyind8e f1k6fduh f1w7gpdv fk6fouc fjoy568 figsok6 f1s184ao f1mk8lai fnbmjn9 f1o700av f13mvf36 f1cmlufx f9n3di6 f1ids18y f1tx3yz7 f1deo86v f1eh06m1 f1iescvh fhgqx19 f1olyrje f1p93eir f1nev41a f1h8hb77 f1lqvz6u f10aw75t fsle3fq f17ae5zn" title="https://www.renewableuk.com/energypulse/ukwed/" href="https://www.renewableuk.com/energypulse/ukwed/" target="_blank" rel="noreferrer noopener" aria-label="Link https://www.renewableuk.com/energypulse/ukwed/">https://www.renewableuk.com/energypulse/ukwed/</a>

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Thrive Renewables

From funding some of the UK’s first onshore wind farms in the early 1990s to a new 14-turbine site, we’re harnessing the country’s abundant wind resource to deliver clean power to homes and businesses.

We’ve acquired the development rights for our biggest project to date – a 57MW onshore wind farm in Scotland

Featured

Thrive Renewables Impact 2019

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Environmental Impact 2019

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Caton Moor (2)

2019 was another positive year of impact for Thrive. 

Video: Impact 2019

Our portfolio of wind and hydro projects generated 166,734MWh of electricity in 2019, enough to power all the homes in a city the size of Worcester1. Together, the projects delivered over 75,000 tonnes of CO2 emissions reductions2.

Shareholders received a 40p per share interim dividend in April 2019 following the sale of the wind farms and a 7p final dividend in July 2019. A 7p per share annual dividend is recommended to be paid in July 2020, reflecting positive performance of the operational portfolio.
Thrive Renewables is marking its 25th anniversary this year, having invested in a total of 25 wind, hydro, solar and renewable heat projects, the majority of which it still owns and operates.

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<div class="cms rte js-cms-done">Over the last 25 years, Thrive has paid a total of 96.2p per share in dividends. Shares have appreciated in value from £1.30 to £2.233 over the same period.  The average annual return for shareholders joining Thrive over the last 25 years from dividends and capital appreciation is 7%4. Thrive’s market capitalisation is now over £50 million6.</div>
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Looking forward, Thrive Renewables has the following immediate priorities:
<ul>
<li>Progress the three new renewable investments to successful commissioning</li>
<li>Deliver additional opportunities for individuals to invest directly in the transition to a cleaner, smarter energy system for the UK via investments in new solar, wind and hydro projects</li>
<li>Support net zero ambitions of businesses, local authorities and other organisations by enabling them to develop clean energy projects</li>
<li>Ensure the existing portfolio generates as much power and impact as possible and exploring life extension of existing assets where relevant</li>
<li>Identify opportunities to co-locate additional renewable capacity and battery storage at existing sites</li>
</ul>
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Thrive’s voluntary Community Benefit Programme awarded grants totalling over £30,000 in 2019 to improve energy efficiency in shared buildings, such as youth centres and village halls, close to its sites. Recipients report improved warmth, comfort and accessibility, and expect to see lower running costs. In 2020, the company has already allocated £24,000 to provide emergency grants to local grassroots community projects supporting individuals and families struggling due to the Covid-19 crisis.
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[1] Calculated using the most recent statistics from the Department of Business, Energy and Industrial Strategy (BEIS) showing that annual UK average domestic household consumption is 3,781kWh, <a href="http://www.renewableuk.com/page/UKWEDExplained" target="_blank" rel="noopener">www.renewableuk.com/page/UKWEDExplained</a>. Population of Worcester 103,769.
[2] Calculated using most recent data on the carbon intensity of the UK electricity grid multiplied by our own electricity generation. <a href="http://www.renewableuk.com/page/UKWEDExplainded" target="_blank" rel="noopener">www.renewableuk.com/page/UKWEDExplainded</a>
[3] Based on the latest traded price on the secondary market as at 27th May 2020.
[4] 7% annualised return is calculated from dividends paid and using the latest traded share value on the secondary market.  The return is averaged for shareholders who have purchased shares at different times by using share values for each new share issue.
[5] Includes £15.4m gain on sale of two wind farms
[6] Number of shares in issue multiplied by the latest traded price on the secondary market as at 27th May 2020.
</div>
</div>

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£12.3 million committed to funding the construction of new wind, hydro and geothermal generation projects.

Annual results 2019: record profits and reinvestments

Lockdown measures introduced in March to control the Covid-19 pandemic reduced the UK’s electricity demand in April by 15%, compared with April 20191. The International Energy Agency (IEA) found that global energy demand was likely to fall by 6% this year, the equivalent of losing the entire energy demand of India – the world’s third largest energy consumer.2
With demand as low as it is, renewables are making up a larger proportion of the energy mix, reducing the carbon intensity of the grid, with gas and coal generation only needed to provide stability services. The steady rise of renewable energy reduces the demand for fossil fuels, so clean electricity will play its largest ever role in the global energy system this year. Renewable energy is expected to grow by 5%, to make up almost 30% of the world’s demand for electricity, according the IEA2.
The UK is currently experiencing its longest coal free period since the beginning of the industrial revolution with 47 coal-free days3. Cool, sunny weather and reduced air pollution has helped drive a new all-time solar power record in the UK, with solar farms generating a peak of 9.69GW of electricity for the grid in April. The current unprecedented circumstances provide real glimpse into the future as we move towards our ambition to be able to operate the system entirely with zero carbon sources of energy.
In April 2019 the National Grid announced they would be ready to run the grid from 100% zero carbon sources by 2025. The lockdown has created a live laboratory environment for the National Grid to test how this can work when running the grid on mostly renewable energy sources. A big part of this is constantly and perfectly balancing the supply and demand of electricity. Experts at the National Grid forecast how much electricity will be needed in each half hour every 24 hours, then tweak power stations and big consumers’ generation and consumption to balance the frequency of electricity on the grid.
When demand is low (as we are seeing during lock down) the usual mix of generation is disrupted, as the growing portfolio of renewables is adequate to meet demand.  The learning taking place currently is how to maintain the perfect balance of demand and supply at times when renewables are delivering the majority of power.  The output from wind and solar is currently harder to ‘tweak’ up and down, and does not provide the levels of stability traditionally achieved using the enormous revolving generators typical to gas and coal power stations.
The National Grid is taking advantage of this unique situation to experiment with alternative ways of fine tuning the electricity system dominated by renewables, using batteries, demand side management and manipulating renewable electricity supply.  This is providing valuable insight into the future of our energy system on the transition to net zero.
For the National grid, the low carbon future has arrived in the form of lock down.  Assumptions are being challenged and both the physical and regulatory system is learning and adapting on a daily basis. This creates challenges, but importantly a chance to live trial a responsible energy system, providing low cost, low carbon and reliable electricity to keep the country going during these difficult times.
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[1] <a href="https://www.edie.net/news/6/UK-hits-coal-free-month-/" target="_blank" rel="noopener">https://www.edie.net/news/6/UK-hits-coal-free-month-/</a>
[2] <a href="https://www.theguardian.com/business/2020/apr/30/covid-19-crisis-demand-fossil-fuels-iea-renewable-electricity" target="_blank" rel="noopener">https://www.theguardian.com/business/2020/apr/30/covid-19-crisis-demand-fossil-fuels-iea-renewable-electricity</a>
[3] <a href="https://www.theguardian.com/business/2020/apr/28/britain-breaks-record-for-coal-free-power-generation" target="_blank" rel="noopener">https://www.theguardian.com/business/2020/apr/28/britain-breaks-record-for-coal-free-power-generation</a>

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Renewables have been on the rise in recent years, hitting an all time high in 2019 with renewable energy generating 36.9% of the UK’s electricity needs.

Renewables dominate the grid

In total, the project raised long term project finance loans of £6.7m from Clydesdale Bank and £1.8m from Thrive Renewables.

Inverbroom will be Thrive Renewable’s second hydro-electric project, following Beochlich Hydro which has been operating successfully since 1998. Inverbroom Hydro will consist of two turbines fed via a buried pipeline which creates pressure to drive the turbine and generate electricity. The scheme will incorporate a small dam with a tilting slipway which allows the hydro to operate within the flood range of Loch a Bhraoin. The water is then returned to the natural water course further down river, allowing the scheme to operate with very little environmental impact.
When Inverbroom Hydro is built, the local community will be able to apply for Thrive Renewables Community Benefit Programme, which offers grants to improve energy efficiency in community buildings like village halls, making them warmer, more comfortable and cheaper to run.
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[1] Calculated using the most recent statistics from the Department of Business, Energy and Industrial Strategy (BEIS) showing that annual UK average domestic household consumption is 3,781kWh, <a href="https://www.renewableuk.com/page/UKWEDExplained" target="_blank" rel="noopener">https://www.renewableuk.com/page/UKWEDExplained</a>
[2] RenewableUK uses BEIS’s “all fossil fuels” emissions statistic of 450 tonnes of carbon dioxide per GWh of electricity supplied in the Digest of UK Energy Statistics (July 2019) p125 Table 5D (“Estimated carbon dioxide emissions from electricity supplied 2015 to 2017”), <a href="https://www.renewableuk.com/page/UKWEDExplained" target="_blank" rel="noopener">https://www.renewableuk.com/page/UKWEDExplained</a>. Average per capita greenhouse gas emissions.

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Thrive Renewables and Clydesdale Bank have provided loans for the construction of a new 2MW hydro-electric project at Inverbroom in the Highlands of Scotland. The project is being developed by Inverbroom Hydro and Glendevon Energy.

New hydro project under construction in Scotland with new funding from Thrive Renewables and Clydesdale Bank

The UK has one of the most reliable energy networks in the world and across the country there are <a href="https://news.energynetworks.org/news/energy-networks-write-open-letter-to-customers" target="_blank" rel="noopener">36,000 dedicated people</a> working tirelessly to keep the power on and your homes warm. Not just engineers in the field but operations staff, health and safety professionals are all performing an essential service through this difficult time, for which we are incredibly grateful.
We spoke to Scott Ridley, Director of Cirrus Wind Services, an operations and management company who look after some of Thrive’s wind turbines. He talked to us about how his team are continuing with their important work.

The engineers who look after our wind turbines are part of this team of designated critical workers, but did you know, most of the time they can monitor them from the comfort of home? Here’s how:
<h3>Wind turbines normally operate without human intervention</h3>
Sensors inside the turbine automatically manage operations like adjusting to different wind speed and directions. Unlike many coal or gas power stations, they don’t need to be staffed.
<h3>Turbines are monitored remotely</h3>
Any unusual signals or alerts from the turbine sensors are picked up at the control room and can be investigated remotely.
<h3>The control room is coming home</h3>
Wind turbines are usually monitored from a centralised control room, but with modern IT systems which can be accessed securely remotely, staff are often able to carry out these operations from their homes.
<h3>Most issues can be fixed without visiting the site</h3>
It is only a small number of faults, servicing or inspections which require technicians to go to the wind farm. When a site visit is necessary, it will always be planned safely and in line with the government’s public health advice, such as observing two-meter social distancing.
<h3>Wind turbine engineers are essential workers</h3>
Due to their incredibly important role maintaining turbines, they are still permitted to travel across the country to carry out their work. In order to safeguard these vital staff, organisations we work with have put in place a range of safety measures, such as working in smaller teams and not mixing, using personal protective equipment such as gloves and face masks and providing disinfectant.
Scott told us what his team are doing to protect themselves and continue their work.

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As the world continues to tackle coronavirus, dedicated teams across the country are working hard to keep the energy system up and running and your lights on.

Turbines keep turning in turbulent times

<h3>Keeping electricity flowing</h3>
Our renewable energy projects across the country form part of critical national infrastructure and are generating electricity as usual. Engineers continue to maintain and operate our wind farms and hydro sites to keep essential electricity flowing. The safety of staff, contractors and the wider community is of paramount importance. We are working closely with our delivery partners to ensure their employees are able to work safely themselves and protect the communities they operate in, following government advice and industry guidelines.
<h3>Doing business remotely</h3>
Office-based staff continue to work remotely, phone lines are open and levels of service are normal. The pipeline of new renewable energy projects remains strong and we plan to offer further opportunities to invest directly into renewables in the future.
<h3>Providing help to our communities</h3>
We have voluntarily put in place financial support for communities close to our sites and launched an initiative to purchase Thrive Bonds from people in financial difficulties. Click <a title="Supporting our communities during the Covid-19 crisis" href="/latest-news/news/supporting-our-communities-during-the-covid-19-crisis/" target="_blank" rel="noopener" data-udi="umb://document/032608c8ad6a47d1a1142f93a2405f97">here</a> for the full story.

In light of the Covid-19 pandemic and the resulting impact on the global energy markets, we felt it necessary to review the <a title="Directors' Valuation" href="/for-investors/shareholders/directors-valuation/" target="_blank" rel="noopener" data-udi="umb://document/0f06da8b681c4de29f91873a7e1eaaf0">Directors&#8217; Valuation</a>, resulting in a 2% decrease to £2.23 per share. Full details of the review can be found <a title="Directors’ Valuation reduced by 2% in response to Covid-19 pandemic" href="/latest-news/news/directors-valuation-reduced-by-2-in-response-to-covid-19-pandemic/" target="_blank" rel="noopener" data-udi="umb://document/e18fa1865f13416da41f478c3bc778ed">here</a>.

Directors' Valuation

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Thrive Renewables has adapted working practices and is able to continue to operate effectively during the Covid-19 crisis.

Covid-19 pandemic business update 22 April

<h3>Covid-19 community crisis support</h3>
We have allocated £24,000 from this year’s Community Benefit Programme and savings made on company travel to provide emergency financial support to the communities who host our wind farms and hydro projects. There are so many people working so hard in their local communities to help neighbours who are vulnerable and self isolating and we want to make sure we support them where we can. We are consulting with local representatives to understand how our donations can have the most impact in helping those who are struggling. The charity, Centre for Sustainable Energy will administer grants to ensure the finances are easy to access and spent in a transparent way.
<h3>Bond purchase scheme</h3>
For some people, their financial situation has changed in a way that would have been unimaginable just a few weeks ago. We are conscious that some of our bondholders may unexpectedly be needing to access cash quickly. So we have put together a scheme for a subsidiary company, Brunel Wind Ltd. to purchase our bonds from people who may be struggling financially. Letters are going out to bondholders over the next few days with full details of the offer. It is important for us to point out that we remain committed to servicing our existing bond debt and bondholders who wish to keep their bonds should absolutely do so. This offer is purely for people whose financial circumstances have changed to such an extent that they need to release the money they have invested quickly.
<h3>Supporting staff</h3>
Engineers continue to maintain and operate our wind farms and hydro sites and keep essential electricity flowing. We are working closely with our delivery partners to ensure their employees are able to work safely themselves and protect the communities they operate in.  All of this is done in line with the evolving government advice and industry trade body guidelines on safety to protect public health.
Our office-based staff are all working from home at the moment. This brings its own challenges potentially with isolation and stress. We support each other with regular face to face calls and team meetings, and we are making professional mental health support available to all staff. In addition, Thrive is providing payments to cover additional household bills for employees such as energy and broadband.
As a business we are fortunate to be able to continue operating effectively, but only because of the amazing work of health and care professionals who take care of the sick and vulnerable and other key workers like our engineers who maintain vital infrastructure and supply chains. We would like to humbly thank them for their work and promise we will continue to do our best to bring about a cleaner, brighter future when this crisis passes.

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Our mission is to power the transition to a sustainable energy future and we make that a reality every day by investing in and operating clean energy generation projects which form part of the UK’s critical infrastructure. We continue to actively develop our pipeline of new renewable energy projects and plan to offer further opportunities to invest directly into renewables in the near future.

Supporting our communities during the Covid-19 crisis

The price we sell electricity at is a key factor in the valuation, along with levels of generation and operational costs. Our projects benefit from a range of power sales contracts which include price floors, fixed pricing and inflation linked elements, as well as government backed renewable electricity support mechanisms. To estimate the long-term dividend flow from our projects, we combine the prices we have agreed in power sales contracts, wholesale electricity market prices in the immediate and medium term and longer-term projections which are provided by market leading experts.
Whilst the DV reflects the long-term value of Thrive shares, events in the short term have an impact. The company continues to generate and sell renewable electricity and has a strong pipeline of new projects &#8211; you can find out more about our business response to Covid-19 <a title="Our response to the Covid-19 pandemic" href="/latest-news/news/our-response-to-the-covid-19-pandemic/" target="_blank" rel="noopener" data-udi="umb://document/3d98ee4e23e74262b138e6a12d9c9a07">here</a>.  However, the pandemic is having a significant impact on prices on the UK’s wholesale electricity market.
Since the beginning of 2020, there has been a reduction of more than 15% in wholesale power prices. Whilst Thrive has mitigated exposure to these price movements in the near term, over the next 24 months we are now projecting lower electricity prices than previously. This has resulted in a 5p per share decrease in the Directors’ Valuation, reducing it by 2% from £2.28 to £2.23 per share.
The pricing of the UKs wholesale electricity market is complex. There are a number of key price drivers which are having a negative impact on electricity prices currently:
<ul>
<li>Global Oil prices have fallen by over 70% since January 20201 This has principally been driven by slowing global growth, the reduction in global oil demand as much of the world is in lock down, exacerbated by the oil supply dispute between Russia and Saudi Arabia.</li>
<li>Natural Gas prices have fallen by over 20% this year2. They are linked to oil prices and currently have a direct impact on the cost of electricity in the UK.</li>
<li>A reduction in demand for electricity in the UK since the lock down was implemented in response to the Covid pandemic. Demand has fallen by between 10% and 20% as both industrial and commercial consumption has dropped. This reduction means that more of the lower cost generators (such as renewables) are satisfying demand and driving down wholesale electricity prices.</li>
</ul>
The combination of locking in future prices and the c.50% of revenues from government backed renewable electricity support mechanisms is limiting Thrive’s exposure to the material changes in the wholesale electricity markets which have been caused largely by the Covid pandemic. The Directors will continue to monitor the factors driving the valuation and communicate any material changes.
[1] <a href="https://www.bbc.co.uk/news/topics/cmjpj223708t/oil" target="_blank" rel="noopener"> https://www.bbc.co.uk/news/topics/cmjpj223708t/oil</a>
[2] <a href="https://www.bbc.co.uk/news/topics/cxwdwz5d8gxt/natural-gas" target="_blank" rel="noopener">https://www.bbc.co.uk/news/topics/cxwdwz5d8gxt/natural-gas</a>

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Caton Moor

Thrive Renewables exists to enable individuals to invest in sustainable energy. We are pleased to have a numerous and diverse shareholder group, giving us a responsibility to provide all our shareholders with an indication of the value of the company – the Directors’ Valuation (DV). The Directors revisit the DV when material events occur.

Directors' Valuation reduced by 2% in response to Covid-19 pandemic

Buildings like village halls and community centres often operate as vital local hubs providing space, activities and support for the most vulnerable in society. However, expensive running costs and upkeep fall to the users. This year we awarded £31,000 in grants, for improvements like loft and wall insulation, new windows, double-glazing and energy efficient heating systems, which are calculated to bring carbon dioxide emission savings of 23 tonnes per year.
To date, including all four rounds of the programme £93,000 has been awarded via 31 grants to improve 23 different community buildings. In total an estimated 60 tonnes of CO2 is now being saved per annum, in addition to numerous other benefits reported by building users, such as improved comfort and ability to use the facilities more frequently as a result of the upgrades.

Based near our March wind farm in Cambridgeshire, St John’s Church received £4,000 for new windows, helping to save nearly 2 tonnes of carbon dioxide emissions per year.

St John's Church, March

Based close to our Caton Moor wind farm near Lancaster, St Peter’s Church received £4,000 towards a larger heating upgrade project in addition to insulation works already underway, helping to save 2.64 tonnes of carbon dioxide emissions per year.

St Peter's Church, Quernmore 

Based near our Avonmouth wind farm in Bristol, Avonmouth Community Centre received £2,360 for new windows, helping to save 5.76 tonnes of carbon dioxide emissions per year.

Avonmouth Community Centre, Bristol

To catch all the latest news and updates on our Community Benefit Programme <a href="/newsletter/" target="_blank" rel="noopener">sign up to our newsletter now </a>.

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TIDE &amp; ISE 2018

The fourth round of our Community Benefit Programme has once again seen measurable improvements in warmth, comfort and light in shared buildings close to our projects. Nine community buildings spread across the country received grants of up to £4,000 in 2019 to make vital sustainability and energy efficiency improvements.

The surprise benefits of decarbonising your local community

The government committed to a legally binding ‘net zero’ target in 2019, to get us to a position where the UK’s total emissions are zero by 2050, although that does mean that what are deemed unavoidable emissions will be offset. A hugely positive move nevertheless and at last we are beginning to see changes in policy to reflect this ambition, after years of at best inaction and at worst hostility towards onshore renewables.
Most significant was the announcement at the beginning of March 2020 to amend the ‘Contracts for Difference’ (CfD) scheme to allow onshore renewables to compete for government backed clean energy contracts which provide the long-term price stability we need to invest in new projects. CfDs, which have driven the recent boom in offshore wind, reduce revenue uncertainty and reopen the door to lower cost funding, creating new opportunities for individual and community investors. They represent good value for the energy consumer too; when market prices are high, the additional revenue goes back to the government.

The government is currently consulting on CfDs and we will be participating in that consultation and sharing our insight publicly. Frustratingly, England’s planning regime remains a major blocker for onshore wind. We are keen to promote and take part in a national debate on the part onshore wind can play in reaching net zero and working with the industry on best practice for engaging with communities to ensure they can have a real stake in projects close to them.
The whole world is experiencing exceptionally challenging times at the moment due to the Covid-19 pandemic. So many people are facing devastating personal tragedy and severe financial hardship. Thanks to the dedication of engineers who look after our wind and hydro power projects which are critical infrastructure generating electricity, Thrive is able to continue business as usual. Office-based staff are all working remotely and able to answer calls, deal with enquiries and continue progressing our investment strategy.
So we see it as our role to think about and action the recovery longer term, building on the solid foundations of the growth in renewables over the last 25 years, nurturing the green shoots of growing public and political awareness and building for a fairer, brighter energy future based on harnessing sunshine, wind and water power. To this end we continue to progress our new investments where it is responsible to do so and develop a healthy pipeline of potential new projects to fund.
[1] BEIS Energy Trends March 2020 (<a href="https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/875381/Energy_Trends_March_2020.pdf" target="_blank" rel="noopener">https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/875381/Energy_Trends_March_2020.pdf</a>

As we have now come to expect, 2019 was yet another growth year for renewables.

Building on solid foundations - the race to #netzero

Robust contingency plans have been formulated to cover employee absence and ensure business continuity as the situation evolves. We will update this page regularly to reflect any changes in our business continuity plan. If you have any questions, please don’t hesitate to get in touch by phone or email.

Thrive Renewables continues to operate business as usual. The wellbeing of our team, contractors, suppliers and the wider community is our absolute priority and we are following government guidance. All office-based staff are now working remotely, phone lines are open and levels of service are normal.

Our response to the Covid-19 pandemic

Responding to yesterday’s government announcement on proposed amendments to the Contracts for Difference scheme Matthew Clayton, Managing Director at Thrive Renewables, said:

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Thrive Renewables responds to government announcement on proposed amendments to the Contracts for Difference scheme

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The refinancing loan along with a loan from Energy Prospects Co-operative will enable community benefit society, Resilient Energy Forest of Dean (REFD), to retain ownership of the project. Energy4All, who currently manage 33 renewable energy co-operatives, will support REFD as the commercial manager of the project.
As well as providing clean electricity to the grid, funding from revenues generated will continue to support local community projects in the Forest of Dean. So far, a wide range of local community buildings and schools have benefitted as a result.
The addition of this project to Thrive’s portfolio brings the total we have invested in community projects to £17 million. It is the 6th community funding bridge we have facilitated, plugging funding gaps to enable community energy groups to build and operate their own clean energy projects. This includes providing a £4 million to fund the construction of England’s largest onshore wind turbine in Bristol, which is owned by a community group.
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Working alongside Energy4All, Thrive’s investment will enable the project to remain in community hands.

£1 million investment into 1MW community-owned wind project in the West Country

We kicked off the insight day with a visit to our Avonmouth wind farm where the group were able to view the turbines up close and learn how they work. Adrian, our Head of Operations led the tour, explaining the processes and jobs involved in the operation of a 8.2MW wind project like this – from planning through to construction and maintenance.  There were some brilliant questions and discussions as the turbines worked hard in the background.  
Next it was back to the Thrive office, where Louise our Head of External Affairs delivered a short presentation on the renewable energy industry, Thrive’s impact and the diverse range of roles that exist within the sector.  
Over lunch, members of the Thrive team enjoyed chatting with the group to provide insight on their job roles and answer any questions about the day-to-day of working in renewables.  
For the final activity of the day, the group split into teams for a fun learning activity.  Each group was tasked with planning a new wind farm in metaphorical ‘Thriveshire’, taking into account various social, economic and environmental factors that go into the planning of clean energy projects. The teams presented their ideas to the wider group with some very impressive proposals and learnings from the day.

Having provided a grant last year to support one of Babbasa’s core services, it’s been fantastic to continue our partnership with an opportunity for some of their Young People to learn about careers in renewables. Thrive’s £1,000 grant will help Babbasa to continue offering its Support Programme that works with young people who are at risk or have dropped out of education or employment, who may be facing multiple barriers or challenges, or who are disadvantaged by their background.  
We’d like to say a big thank you to everyone from Babbasa who attended our insight day – we hope you found it inspiring!

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We hosted an insight day for Babbasa’s Young People to learn about opportunities in renewables.

Shining a light on green careers for under-represented young people

This funding will help us deliver on our busy pipeline, which includes a portfolio of new clean energy developments through a £20 million investment in Ethical Power. We also plan to fund more ‘direct wire’ solar projects, giving UK businesses access to a direct supply of clean electricity, and support community energy groups in building their own clean energy projects locally – like our recent <a href="/latest-news/news/4-million-investment-into-community-group-attix-cic/">£4 million investment in Scottish community energy group</a>, ATTIX CIC.
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 is also set to provide commercial quantities of lithium for EV batteries.
This successful crowdfund comes as new Thrive research – conducted by Opinium, found that retail investors could unlock over £214 billion worth of investments needed to fund UK net zero infrastructure ambitions. Read more about the research <a href="/latest-news/news/the-214bn-impact-investment-opportunity-retail-investors-could-unlock-crucial-net-zero-funding/" target="_blank" rel="noopener">here</a>.

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