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kessingland-2

kessingland

Latest news

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>

thrive-renewables-7

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

The prize was awarded for our innovative Community Energy Funding Bridge financial model. We are proud to be recognised for our unique contribution to community energy ownership, uniting communities through a common movement to invest in and own clean energy. This award reflects our work towards achieving our vision of a clean, smart energy system that is powered by the investment of many.
The Community Energy Funding Bridge was set up in 2016 in response to a growing desire for community owned renewables. By providing temporary funding to purchase local renewable energy projects, we empower communities by giving them the time and breathing space to raise their own funds. Once the funding has been paid back, the community owns the project for the long run.
Mean Moor is a huge success story for the Community Energy Funding Bridge and the first wind farm in the country to be transferred from corporate to community ownership. Thrive provided £7.4million in funding to facilitate the acquisition of Mean Moor by three local energy cooperatives. This gave them the time and support they needed to successfully raise £4million in a matter of weeks, uniting over 700 investors, partially replacing the Community Energy Funding Bridge. The wind farm is now 100% community owned.
Onshore renewable energy projects will play a key role in achieving the Climate Change Committee’s target for net-zero emissions by 2050. Diversifying the ownership of renewable projects, such as Mean Moor, enables people to take action on climate change by owning their local clean energy at source.

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mean moor

Thrive Renewables wins prestigious Renewable Energy Association award for the second time.

Thrive wins 'financial leadership' award 2019

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We made new investments in renewable heat for retirement homes and battery storage solutions to improve flexibility on the grid and provide businesses with less carbon intensive power at lower prices.
<img decoding="async" src="https://www.thriverenewables.co.uk/media/1956/thrive_2018_achievements-financialenvironmental-v2.png?width=620&amp;mode=none&amp;scale=downscaleonly&amp;quality=80" alt="" />
Our positive environmental impact also increased by over a third when measured in CO2 emission reductions – mitigating the entire annual carbon footprint of 7,760 people3 in total. Last year we produced enough clean electricity to power all the households in a city the size of Norwich.
The sale of two wind farms early in 2019 led to a 40p per share interim dividend for shareholders in April, as well as £11 million released to invest in new clean energy projects. The Directors are recommending a 7p per share final dividend this year, subject to shareholder approval, reflecting an increase in profitability with new windfarms and other investments coming on stream and a decrease in debt as other projects mature.
Renewable power also brings advantages to host communities. Last year Thrive contributed £1.3 million4 to local economies . Our Community Benefit Programme awarded grants of over £30,000 to improve warmth and comfort in shared buildings such as youth centres and village halls close to our sites.
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<div>References</div>
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<div>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">https://www.renewableuk.com/page/UKWEDExplained</a></div>
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<div>2 RenewableUK uses BEIS’s “all fossil fuels” emissions statistic of 460 tonnes of carbon dioxide per GWh of electricity supplied in the Digest of UK Energy Statistics (July 2018) p125 Table 5D (“Estimated carbon dioxide emissions from electricity supplied 2015 to 2017”), <a href="https://www.renewableuk.com/page/UKWEDExplained">https://www.renewableuk.com/page/UKWEDExplained</a>. Average per capita greenhouse gas emissions.</div>
<div></div>
<div>3 The average UK citizen produces 12.5 tonnes of carbon dioxide a year, <a href="https://www.carbonbrief.org/city-of-london-tops-uk-carbon-footprint-list">https://www.carbonbrief.org/city-of-london-tops-uk-carbon-footprint-list</a></div>
<div></div>
<div>4 Includes business rates, land rental and community benefits</div>

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DC26

Another year of strong performance and record returns to shareholders.

Thrive Renewables annual results 2018

Drumduff wind farm was officially opened by local MSP Alison Johnstone at a community open day in September 2018 attended by 400 people. The opening celebrated years of hard work transforming a derelict former coal mine into a wind farm fit for the future, generating renewable electricity.
Thrive has also been shortlisted for the Financial Leadership Award for our Community Energy Funding Bridge, a funding model which provides temporary finance for communities wishing to purchase or build their own renewable energy projects. It allows local people to take ownership of renewable energy projects near them and reap the financial, social and environmental rewards.

The successful transition from coal to clean energy

Drumduff wind farm construction

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DC25

Drumduff, our iconic, award-winning wind farm built as a joint venture with GreenPower International, has been shortlisted for the prestigious Renewable Energy Association – Outstanding Project Award.

Thrive shortlisted for two prestigious awards with partner GreenPower International

Kirksanton Village Hall near our Haverigg II wind farm in Cumbria was underused due to poor lighting and heating. We awarded them just over £3,000 in 2018 to install LED lighting, energy efficient space and water heaters and insulation for water pipes. Now the Parish Council meets there, along with groups like the ‘stitchers’.
The Thrive Community Benefit Programme has awarded a total of 21 grants to 17 community groups, providing 40 tonnes per year of carbon savings in total.
The Centre for Sustainable Energy, an independent national charity that shares knowledge and experience to help people change the way they think and act on energy, runs the programme. The scheme will reopen in May.

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IMG_0316

Our fourth annual Community Benefit Programme, awarding grants to improve energy efficiency and comfort in village halls and other community buildings, will open on 10th May.

Warmth and light for chilly community buildings

Space heating and hot water accounts for 80% of final residential energy consumption in the UK.  70% of our heating requirements are met by burning natural gas, resulting in 20% of the UK’s CO2 emissions. Ground source heat pumps significantly reduce this negative environmental impact by using underground pipes to extract natural heat from the ground to heat radiators, underfloor or air systems and water.
Buildings like retirement homes, which need to be warm and cosy all day, can be particularly difficult to heat efficiently. Running a heat pump costs around 30% less than an equivalent gas boiler, 40% less than oil and 60% less than LPG, so as well as reducing carbon emissions, they can also lower energy bills. Heat pumps also have a longer life than combustion boilers and require less maintenance. The ground stays at a fairly constant temperature under the surface, so the heat pump system can be used throughout the year.
Our investment forms part of a £4.1 million seven-year bond, financing the rollout of 100 ground source heat pumps to retirement homes across England and Wales. Rendesco achieves a return on its investment through the government’s non-domestic Renewable Heat Incentive (RHI) scheme, a 20-year inflation-linked subsidy. This model will allow Rendesco to repay the bond in full within seven years. The funds have come from a £1 million investment allocation that Thrive has ringfenced for new sustainable energy technologies, such as heat, energy storage and other innovative solutions.

rendesco_website

Rendesco well on the way to meeting its target of 100 installations across the UK.

Over 45 ground source heat pumps installed in retirement homes

Following the successful sale of two wind farms in February 2019, a General Meeting was held for shareholders to consider two resolutions:
1.1 that the directors be authorised to offer shareholders the right to elect to receive shares instead of cash in respect of dividends declared by the Company;
1.2 to approve an interim dividend of £0.40 per ordinary share to be paid to the holders of ordinary shares on the register of members at the close of business on 15 February 2019.
Each of the resolutions were put to the meeting and passed on a show of hands. The interim dividends have now been paid to shareholders.
Thrive’s regular Annual General Meeting will be held in Bristol on 15 June. All shareholders are warmly invited. We will welcome a guest speaker and a light lunch will be provided.

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img_2820 (1)

Shareholders agree to proposed interim dividend of 40p per share

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We evaluate the DRSP when material events occur. On 15 February, two wind farms were sold, providing evidence of an increase in the value of our operational assets, leading to an increase in the DRSP to £2.65 per share. An interim dividend of 40p per share, representing 15% of the share price, was proposed, subject to approval by shareholders. An additional £11 million realised by the sale will be retained by the company to invest in more sustainable energy capacity for the UK.
Following a unanimous decision by shareholders at the General Meeting on 12 March to approve the payment of a 40p per share interim dividend, the revised DRSP will be £2.28. This takes account of the interim dividend payment, but also reflects positive developments including securing improved electricity prices at a number of renewable energy sites and the company’s performance in 2018.
The interim dividend payments will be made to shareholders in two equal instalments of 20p on 3 and 17 April. The Thrive Renewables Annual General Meeting (AGM) will be held as usual in June. Invitations and information on proposed annual dividends will be sent to shareholders in May.
Changes to the DRSP are always published on our website. Below you will find a graph which shows the movements in the DRSP since February 2018.
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<figure class=""><picture><source srcset="/media/1933/drsp-image.png?width=468&amp;mode=none&amp;scale=downscaleonly&amp;quality=80" media="(min-width: 1080px)" /><source srcset="/media/1933/drsp-image.png?width=410&amp;mode=none&amp;scale=downscaleonly&amp;quality=80" media="(min-width: 620px)" /><img decoding="async" src="https://www.thriverenewables.co.uk/media/1933/drsp-image.png?width=620&amp;mode=none&amp;scale=downscaleonly&amp;quality=80" alt="" /></picture></figure>
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Directors Recommended Share Price updated following approval of interim dividend.

Directors' recommended share price review

We constructed both onshore wind sites between 2009 and 2011. Since then, the sites – in North Wales and Suffolk – have generated over 280 Gigawatt hours (GWh), enough clean electricity to power over 9,000 average UK homes annually**.
Following a competitive tender, we chose Equitix, an infrastructure investor, as the buyer of the two sites. Equitix was selected due to its attractive offer, long term commitment to keep the sites generating clean wind power and guarantee to maintain Thrive’s local community engagement work.
Through our community funds, the wind farms have delivered positive benefits for local people, including energy efficiency improvements to community buildings and children’s playground equipment. We have also installed potentially life-saving defibrillators in remote locations and raised awareness of climate change with local children.
Last year our portfolio delivered a reduction of 96,800 tonnes of greenhouse gas emissions. Deals such as this one help us to increase the UK’s overall renewable energy capacity as we use capital appreciation from these two operational wind farms to invest in new projects.
Shareholders will be invited to a General Meeting (GM) on 12 March to vote on the proposed dividend and other related resolutions.
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* <a href="/for-investors/buy-and-sell-shares/directors-recommended-share-price">Directors&#8217; Recommended Share price</a>
** Calculated using Thrive Renewables’ own generation multiplied by the impact figures published at www.renewableuk.com/page/UKWEDExplained

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IMG_4719

Two of our onshore wind farms with a total generation capacity of 13MW have been successfully sold, taking advantage of current high market valuations for operational projects. The multi-million deal will enable us to build new renewable energy capacity in the UK. The wind farms will continue to produce clean, green electricity under new ownership.

Sale of two wind farms to fund new sustainable energy projects

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We evaluate the DRSP when material events occur. In October 2018 , the Directors undertook a review of the valuation of the company, resulting in a 25p increase in the DRSP due to a combination of factors which had a positive effect. These included an extension of the lease duration at Haverigg II, an increase in wholesale electricity prices, lowering the cost of our debt and an increase in the value of operational renewable energy projects in the UK.
The sale of two wind farms, announced on 15 February , has provided evidence of an increase in the value of our operational assets, resulting in a 5p increase in the DRSP to £2.65 per share.
Also announced on that date was a proposed interim 40p dividend per share to be paid in April 2019. If the proposed dividend is agreed at the General Meeting on 12 March, we expect the DRSP to reduce to around £2.25 when it is paid out, assuming there are no other significant changes in the Company and marketplace. The Thrive Renewables Annual General Meeting (AGM) will be held as usual in June. Invitations and information on proposed annual dividends will be sent to shareholders in May.
Changes to the DRSP are always published on our website. Below you will find a graph which shows the movements in the DRSP since February 2018, including projected future changes illustrating the impact of the proposed interim dividend on the DRSP.
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Directors’ Recommended Share Price increases following positive developments.

Adrian Warman, our Operations Manager, went to the school to provide an overview of options for wind farms using our portfolio as an example, as well as industrial and commercial applications. They then visited the 8.2MW Avonmouth wind farm to see the four turbines in action and gain valuable first hand insight for their coursework.

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Eleven sixth-form pupils and staff from Backwell School in North Somerset braved a freezing cold and breezy day at the end of January to visit our Avonmouth wind farm.

Students find the answer blowing in the wind

Driven by increasing public support, renewables are no longer ‘unconventional’. They are a vital part of our energy mix. A reassuring  85% of people said they support renewable energy technology in 2018.  The annual survey released in April by the Government’s Department for Business, Energy and Industry Strategy (BEIS) also found two thirds of people would support a large scale renewable energy development in their area.
This trend can also be seen across the globe. In Germany, renewables overtook coal as the main energy source.  In Denmark, renewables accounted for a whopping 68% of the country’s electricity needs.  While in December, the number of US cities committed to 100% clean or renewable energy surpassed 100.
Looking forward, the International Energy Agency (IEA) expects that renewables will enjoy the fastest growth in the electricity sector, providing almost 30% of power demand in 2023, up from 24% in 2017.
In this time, solar PV capacity is forecast to expand almost 600 GW – more than all other renewable power technologies combined. China is expected to maintain its position as the world’s solar leader with almost 40% of the globally installed capacity predicted in 2023.
In the UK, renewables are on course to overtake fossil fuels and become the energy industry’s ‘dominant force’ during 2020, according to EnAppSys.  This will hopefully be supported by a more progressive regulatory and policy environment, including a replacement for the government’s scrapped feed-in-tariff (FIT) subsidy scheme.
There is also a significant opportunity for UK renewables to meet the lion’s share of the capacity gap left by failed nuclear. More than 40% of the UK’s planned new nuclear capacity has in effect been cancelled due to economic viability – with Toshiba pulling out of developing a plant in Cumbria last year and Hitachi scrapping plans for two plants in Wylfa and Gloucester in January.
The cost of renewable technology, such as solar and onshore wind, has fallen precipitously in recent years, making it a much more economically sound and reliable investment decision. It’s so much faster to build too. In the UK it has taken less than two years to install renewable capacity capable of delivering more electricity than Hinkley Point C will generate, and it’s not scheduled to come online until 2025.  Perhaps the economic and technology landscape has progressed beyond the nuclear solution, presenting a positive opportunity for renewables to seize an even larger piece of the energy generation pie.
At Thrive, we’re looking forward to continuing to deliver this positive change. We’ll be using our 20 years’ experience to continue to help people meaningfully connect with clean energy projects across the UK and to ultimately power the transition to a clean energy future.

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fenpower field

The UK’s clean energy industry reached new highs in 2018. Renewables broke new records, delivering a third of all electricity generation, while power generated from fossil fuels was lower than ever before. 

Growth in Thrive's renewable electricity output reflects success of sector in 2018

As the energy sector evolves to include a growing volume of renewable electricity, the dynamic between demand and supply is changing. Historically, electricity suppliers have been slaves to demand. However, as the generation mix progresses towards lower carbon intensity, a more balanced relationship with increased flexibility is required.
Businesses offering increased independence from the grid via ‘behind the meter’ solutions to energy managers are on the rise. Energy cost volatility, flexibility opportunity and more transparent charging methodologies are driving businesses’ interest in taking greater control of energy supply. This trend is seeing companies install onsite renewable power generation, energy storage and other clean technologies to help them become either less reliant on the grid or completely self-sufficient.
The aims of behind-the-meter generation for businesses are threefold:
<ol>
<li>Cutting energy costs is undoubtedly the primary goal of all companies looking to go self-sufficient. Energy prices are reported to be on the rise again. So rather than relying on the markets to deliver affordable energy, many savvy businesses are beginning to take their electricity supply into their own hands, hedging their exposure to the wholesale electricity price volatility. Depending on the mix of solutions and energy efficiency measures chosen, companies can make substantial savings against today’s prices and provide confidence in future costs.</li>
<li>Reducing carbon emissions is also an extremely important motivator. Many companies have corporate social responsibility (CSR) imperatives that could be achieved by generating renewable power onsite or using energy in smarter ways. Going green can also contribute to customer retention and becoming more competitive; customers are becoming increasingly interested in the provenance of their suppliers.</li>
<li>Onsite generation can also unlock attractive new revenue streams. Depending on the mix of clean energy solutions a business goes for, onsite generation has the potential to add significant amounts to a company’s bottom line.</li>
</ol>
<h3>Three innovative business models to help drive benefits for energy managers:</h3>
<h4>Energy storage</h4>
A joint venture between Aura Power and Thrive Renewables is offering thousands of UK businesses the chance to use battery energy storage systems to cut electricity bills at no cost to themselves.
The joint venture will install and operate batteries for medium and large energy users free of charge in return for a share of revenues. Once the battery is installed, customers will achieve immediate cost savings by avoiding premium-cost peak energy charges and generating income through flexibility services to the grid.
The project is targeting thousands of businesses spending £500,000 a year or more on electricity. Over 8,000 businesses in the UK have annual electricity contracts of 10GWh or more and are likely to be spending at least £1 million a year, according to energy market analysts Cornwall Insight. The number with £500,000 annual bills is likely to be far larger.
Customers with a mid-range 2MW battery could save more than £1 million over a 15-year standard contract.
<h4>Off-grid renewables</h4>
The Greenvale AP potato processing facility joined forces with Thrive Renewables to install a 1.5MW wind turbine next to their buildings in 2014. Greenvale, located near March in Cambridgeshire, is committed to sustainability and opted for the new turbine to supplement their existing solar PV system. The wind power generated now provides up to 75% of Greenvale’s energy demand.
There is increasing pressure in modern supply chains to provide goods more cheaply and sustainably. Many UK businesses, like Greenvale, are looking to on-site, private wire renewables as a solution. These companies don’t necessarily have the right shaped capital, skill set or time to manage the installations and maintenance themselves, so they seek support from specialist renewable energy investment companies to provide access to the required capital, experience of dealing with renewable builds in developed areas, and understanding of technical renewable energy operations.
<h4>Ground source heat pumps</h4>
Rendesco, is an innovative ground source heat pump installer. Heat accounts for almost 40% of the UK’s energy demand, 70% of which is generated by burning natural gas, resulting in 20% of the UK’s CO2 emissions.
Ground source heat pumps significantly reduce this negative environmental impact by using underground pipes to extract heat from the ground to heat radiators, underfloor or air systems and water. The pump requires electricity to run but uses less power than it produces and therefore generates lower CO2 emissions overall – the typical ratio is 1:3.
Rendesco has a compelling offer whereby it designs, installs and maintains ground source heat pumps for clients, providing 20 years of low-cost energy. After the 20 years, Rendesco gives the heat pump to the client. Over the last three years, the company has successfully delivered 21 systems in new build developments.
Running a heat pump costs around 30% less than an equivalent gas boiler, 40% less than oil and 60% less than LPG, so as well as reducing carbon emissions, they can also lower energy bills. Heat pumps also have a longer life than combustion boilers and require less maintenance. The ground stays at a fairly constant temperature under the surface, so the heat pump can be used throughout the year.
Rendesco achieves a return on its investment through the government’s non-domestic Renewable Heat Incentive (RHI) payment, a 20-year inflation-linked subsidy.

march-2

march 2

As the energy sector evolves to include a growing volume of renewable electricity, the dynamic between demand and supply is changing. Matthew Clayton, MD at Thrive Renewables, took a deeper look at this relationship for Tomorrow's Facilities Management magazine.

A self-sufficient supply

Its recent tests have shown that fluid within the deep geothermal wells at United Downs in Cornwall contained around 340 parts per million (ppm) of lithium &#8211; the highest concentration of lithium found in any commercial geothermal lithium project in Europe. Having provided the first commercial funding for United Downs in 2020 and further investment for the power plant construction in 2023, we’re thrilled to hear the project’s latest development which could see GEL fulfil a significant portion of the UK’s lithium demand.      
GEL was recently awarded £1.8m by the Automotive Transformation Fund (ATF) Scale up Readiness programme.  They aim to produce around 100 tonnes per annum (tpa) of Lithium Carbonate Equivalent (LCE) in late 2024 which they say will be ramped up to at least 1,000 tpa from United Downs as early as 2026.  Planning permission has been secured for two other geothermal projects in Cornwall and GEL aims to rapidly expand production to over 12,000 tpa in the UK by 2030. They report this is enough to produce around 250,000 electric vehicle batteries for an average sized car [1], or 94% of the LCE needed to supply the <a class="js-scroll-done" href="https://www.gov.uk/government/statistics/vehicle-licensing-statistics-2022/vehicle-licensing-statistics-2022#:~:text=In%202022%2C%20new%20car%20registrations,267%2C000%20BEV%20cars%20(16%25)" target="_blank" rel="noopener" data-anchor="#:~:text=In%202022%2C%20new%20car%20registrations,267%2C000%20BEV%20cars%20(16%25)">267,000</a> new Battery Electric Vehicles (BEVs) registered in the UK in 2022 [2]. 
Lithium can be sustainably extracted from geothermal fluid, avoiding the energy-intensive production processes currently used such as mining.

After providing the first commercial funding for the United Downs geothermal power plant in 2020, Thrive invested an additional £3 million in the project in 2023 to fund construction.  
[1] The average amount of lithium carbonate equivalent (LCE) per car is 47.4kg.  Sources IEA, World Economic Forum, Reuters, Goldman Sachs. GEL production target is 12,000 tonnes of LCE per year. Therefore, number of cars per year is circa 250,000. 
[2] <a class="js-scroll-done" href="https://www.gov.uk/government/statistics/vehicle-licensing-statistics-2022/vehicle-licensing-statistics-2022#:~:text=In%202022%2C%20new%20car%20registrations,267%2C000%20BEV%20cars%20(16%25)" target="_blank" rel="noopener" data-anchor="#:~:text=In%202022%2C%20new%20car%20registrations,267%2C000%20BEV%20cars%20(16%25)">According to the UK Government</a>, 267,000 Battery Electric Vehicles (BEVs) were registered in 2022.

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UD geothermal 2 1400

High concentration of lithium found at United Downs geothermal project could support growing UK electric vehicle industry.

United Downs geothermal generation plant set to deliver UK's first commercial quantities of lithium for car batteries

This year the event was hosted at the Lowry Theatre in Manchester, and we were thrilled to be attending as a finalist in the Collaboration in Community Energy category alongside our friends Aura Power, Bristol Energy Cooperative (BEC) and RADE (Residents Against Dirty Energy). 
The award recognised “the most commendable collaboration between a community energy organisation and its partners”, with entrants required to “demonstrate outstanding efforts in supporting and advancing community energy through partnerships, investments, policy advocacy, or various forms of assistance, which have increased community energy activity or impact”.  
We were nominated for our 20 MW Feeder Road battery project in Bristol, which we acquired from Aura in 2020. It was down to great campaigning work by RADE and BEC that stopped the site being home to a polluting diesel STOR generator, which neither contributes to the UK’s net zero journey nor benefits the local community, instead of a battery storage project which is a cleaner technology and enables more renewables to be connected to the grid. Currently in the latter stages of commissioning, we’ve now offered BEC an opportunity for shared ownership, giving local people the opportunity to take a stake.    
We’re particularly proud of the project’s backstory, which shows how business can work together with the local community to develop solutions that will have a positive impact; environmentally, socially and financially. It was great to also have this recognised by Community Energy England on the night, especially against some tough competition in BHESCo, Sustainable Hayfield and Community Energy Together. A big congratulations again to all the other winners and finalists – we look forward to celebrating another year of progress at the 2024 awards! 
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Members of the Thrive team travelled to Manchester for the Community Energy Awards last week – and we were thrilled to take home the award for ‘Collaboration in Community Energy’ alongside Aura Power, Bristol Energy Cooperative and RADE.

Celebrating our collaborative (and award winning!) funding approach at the Community Energy Awards

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Below we summarise the updates relating to green policies and share our thoughts on where we would like to see more clarity and commitment as we look forward to COP28 and the government’s next significant update: the Autumn Budget.  
<h3>What were the measures relating to clean energy?</h3>
As part of the speech, the government announced that it is aiming to attract record levels of investment into renewables, but very little detail around how this would be achieved. What investors need is certainty – not just a line in a speech. <a href="https://www.energy-uk.org.uk/news/uk-falling-behind-in-race-for-clean-energy-investment/" target="_blank" rel="noopener">Research by Energy UK</a> has found that between now and 2050, an additional £500 billion will need to be invested into the UK power sector in order for us to meet our net zero goals. This represents a big growth opportunity but also makes stability and certainty absolutely crucial for the sector.  
In addition to investment, the announcement noted plans to reform grid connections, which is one of the major barriers developers are currently facing and is keeping hundreds of gigawatts of wind, solar and battery storage locked in a years-long queue. Again, it’s great to see this issue recognised but the devil is in the detail, and we await further clarity on how this challenge will actually be overcome.   
It’s fair to say that these positives were largely overshadowed by the announcement that the government plans to legislate annual North Sea oil and gas licensing rounds, based on the argument that it would help the “country to transition to net zero by 2050, without adding undue burden on households”. This is something that Thrive absolutely disputes. There is no net zero future that includes oil and gas. Are we not seeing the proof of that on a near daily basis? We know that burning fossil fuels to generate energy releases huge amounts of polluting CO2 into the atmosphere, leading to global heating which is causing dangerous freak weather events around the world. There is also no proof that oil and gas will have a positive impact on energy security – especially as these resources will be sold and consumed on the global market – or that it will help the thousands of households dealing with fuel poverty as a result of the ongoing energy and cost of living crises.  
This comes after prime minister Rishi Sunak recently back pedalled on other green policies. In September, he announced that he was delaying the ban on petrol cars, extending the deadline to replace gas boilers and even cancelling new energy efficiency regulations for private landlords which could cost their tenants almost £8bn in higher bills <a href="https://www.bbc.co.uk/news/business-66864122" target="_blank" rel="noopener">over the next decade</a>. 
<h3>How should we be moving forward?</h3>
We believe that the best way to boost energy security, reduce household bills for consumers and achieve net zero is to accelerate our transition to a homegrown, renewables-based energy system. Onshore wind and solar are amongst the cheapest ways to generate electricity today, however these naturally replenished energy sources are massively underutilised. What we need to see is the government back up its commitment to achieving record levels of renewable investment through solid policies that not only allow these projects to be built but actively encourage them. And we’re not alone in this thinking.  
As Conservative MP Chris Skidmore outlined in his independent Mission Zero report, net zero is the economic opportunity of the 21st century – giving the impression that it’s an expensive luxury, rather than a necessity, is dangerous. In fact, consultancy Cambridge Econometrics, on behalf of the Climate Change Committee, found that the UK will see around 2% additional GDP growth due to new jobs, increased economic activity, lower fossil fuel imports and cost savings such as reduced household bills because of the transition. 
We also know that the window for avoiding the worst effects of the climate emergency is getting rapidly smaller. A recent study by Imperial College London estimates that the world will exhaust its remaining carbon budget for limiting global warming to 1.5°C by the end of this decade if emissions continue at current levels. Now is not the time to be slowing down. Instead, the UK should be seizing the opportunity and setting an example for developing economies to follow suit. Unfortunately, the issuing of new oil and gas licences is another setback and directly contradicts this need for acceleration.  
As always, Thrive’s response is action. We will continue to invest in and build new onshore wind, solar and geothermal energy as we know that these projects are what will allow generations to come to enjoy a fairer, cleaner world.  
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We were pleased to see the government seeking ‘record levels’ of renewable investment, as well as promising an acceleration in grid connection times, but its decision to issue new oil and gas licences is a big disappointment.

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