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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

Featured

We’re delighted to report that 99.3% of respondents are satisfied with Thrive Renewables. Reasons given for this high level of satisfaction include our focus on renewable energy and ethical practice. This reflects one of our core values, Sustainable At Heart; we always use the principles of sustainability to guide our investment and business approach, and have done for 25 years.
At Thrive we are committed to playing an active role in the clean energy movement and driving positive change in the UK, working towards achieving our mission to power the transition to a sustainable energy future. It’s great to see this recognised by our investors, with 84% of respondents describing Thrive as making a genuine difference to the environment.  
Public support for renewable energy and climate action has grown markedly recently, inspired by the School Strike 4 Climate and Extinction Rebellion movements. According to the UK Government’s public opinion tracker, in 2019 84% of the British public support renewable energy sources for electricity and heat production and 79% <a href="https://www.gov.uk/government/collections/public-attitudes-tracking-survey">support onshore wind</a>. Investors who took part in our survey are overwhelmingly in support of renewable energy and climate action, with 92.2% applauding the school children who went on strike to highlight environmental issues.  
In June, the UK Government signed a target of net zero carbon emissions by 2050 into law, making history in the process. But this gesture must be followed by tangible actions, and respondents agree. 98.9% think the government need to do a lot more to support the renewable energy industry and 99.7% would like to see the UK produce much more renewable energy than it currently does. 
We need policy with clear and stable direction and investment into renewable energy from the government or we will not meet that target. 99.1% of our survey participants believe that as a society, if we don’t make more investments in renewable energy now, future generations will really suffer.

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98.9% think the government needs to improve support for the renewable energy industry.

Thrive investors have their say

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[1] BEIS: Digest of UK Energy Statistics (DUKES) (https://www.gov.uk/government/collections/digest-of-uk-energy-statistics-dukes)
[2] BEIS Public Attitude Tracker: Energy and Climate Change (https://www.gov.uk/government/collections/public-attitudes-tracking-survey)
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Did you know that renewables were responsible for meeting just 2% of our electricity consumption back in 1994? Check out our birthday timeline of Thrive history since 1994.

Down memory lane

Drumduff wind farm was officially opened by local MSP Alison Johnstone at a community open day in September 2018. The project has the potential to produce enough clean energy for over 5,000 UK homes[1], and in 2018 was awarded the Sustainable Development award at the Scottish Renewables’ Green Energy Awards.
Thrive has also been shortlisted for Community Energy England’s Collaboration award, for the Community Benefit Programme we run with national charity the Centre for Sustainable Energy. The Community Benefit Programme has been running since 2015, offering grants of up to £4,000 for energy efficiency and sustainability improvements for community buildings close to our renewable energy projects. The grants improve warmth and comfort and reduce running costs in eligible buildings, while also reducing CO2 emissions. These buildings play a key role within their communities, providing vital services and communal space for everyone, including the most vulnerable, to come together. To date, the Community Benefit Programme has awarded over £63,000 to 17 community buildings, saving 40 tonnes of CO2 each year.
Finally, Thrive Renewables has been shortlisted for Green Business of the Year at Business Insider Magazine’s prestigious Business Leaders Awards. With ‘Sustainability At Heart’ one of our core values, we are honoured to be recognised as one of the greenest and most sustainable businesses in the South West. The principles of sustainability guide all aspects of Thrive’s business, from the renewable energy projects we build and operate, to the community events we run.
[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>

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Alongside our valued partners GreenPower International and the Centre for Sustainable Energy, Thrive has been recognised and shortlisted for three industry awards.

Thrive Renewables shortlisted for three prestigious awards

The UK has installed an impressive 44GW of renewable energy capacity in the last few decades, meeting a third of our electricity demand. To meet our net zero carbon emission targets, this rapid growth must continue. Matthew Clayton writes for BusinessGreen on how a few important changes can help lower costs, increase revenue certainty and secure the vital investment needed to transform the UK&#8217;s energy system. Read the full article on the BusinessGreen <a href="https://www.businessgreen.com/bg/opinion/3080625/planning-for-a-successful-subsidy-free-future" target="_blank" rel="noopener">website.</a>

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Our Managing Director, Matthew Clayton, writes for BusinessGreen.

Planning for a successful, subsidy-free future

The new power purchase agreement (PPA) for the electricity generated by Thrive’s 2.75MW wind turbine at Ness Point, England’s most easterly point, will provide enough energy for 2,225 UK homes. The agreement for the 0.8MW Auchtygills turbine in Aberdeenshire will power an additional 700 homes.
In 1998, Bristol City Council and Thrive separately became renewable energy trailblazers. The council became one of the first local authorities to buy renewable electricity and Thrive invested in its first wind farm – Haverigg.
Twenty years on, Thrive now has a portfolio of 17 renewable energy projects. And, Bristol has set itself the ambitious target of becoming carbon-neutral by 2030, with the council <a href="https://news.bristol.gov.uk/news/council-exceeds-carbon-reduction-target-for-a-second-year" target="_blank" rel="noopener">recently announcing</a> it had cut its own carbon emissions by 71%, two years ahead of schedule. The council has also launched its City Leap project to help significantly reduce carbon emissions and build a resilient city where no one is left behind.
Providing accessible renewable energy is a key objective for Thrive and Bristol Energy. The organisations – which are both headquartered in the city centre, by College Green and Temple Meads respectively – are enabling people to get involved by investing in Thrive’s renewable energy schemes or by signing up Bristol Energy’s 100% green tariff.
The deal was completed on e-POWER, an online auction, which enables independent renewable energy generators to sell clean electricity to utilities.
Ness Point
Ness Point, in Lowestoft is the most easterly point in England and the turbine sits right on the sea wall, making the most of winds whipping in off the North Sea.
Since Thrive invested in the project, the <a href="https://www.orbisenergy.co.uk/" target="_blank" rel="noopener">Orbis Energy Centre</a> has been established next door, which is a flagship focus for the east of England&#8217;s renewables network and home to a range of established and innovative organisations supporting the sector.
Auchtygills wind farm
The Auchtygills turbine is a single, 0.8MW machine built near Strichen in Aberdeenshire. The Auchtygills project makes an annual community benefit payment to the local council. This payment is used by the council to carry out sustainability, energy efficiency and environmental improvements to existing housing stock in the area and to contribute to educational and art projects in the area through the local Mintlaw Academy.

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Thrive Renewables and Bristol Energy have today unveiled an agreement for 3.55MW of renewable electricity, enough to power almost 3,000 homes, from two onshore wind farms in Suffolk and Aberdeenshire.

Thrive and Bristol Energy agree wind power deal for 3,000 homes

A key area highlighted by the CCC for change is within power sector, specifically onshore renewables, such as onshore wind and solar PV. Up until 2015, the UK was a world leader in onshore renewable development, so when the government removed support and changed planning regulations in 2015, it was a significant setback to the industry. According to the report, there is currently no route to market for onshore wind and solar, the lowest-cost forms of renewable generation. This severely limits the potential speed of decarbonisation in the UK and adds to costs.
The report identifies where policy has been successful in catalysing change. Offshore wind is now able to provide power at comparable prices to fossil fuels. This has been achieved by creating a marketplace with long-term contracts and the necessary funding via a ‘Contracts for Difference’ (CfD) scheme.
Renewable energy continues to fall in price and is now the cheapest source of new electricity generation in most parts of the world1. Since 2017 the global average levelised cost of solar PV and onshore wind has fallen by 13%2. By 2020 these two sources are expected to be less expensive than the cheapest fossil fuel alternative in a wide range of geographies2. The CCC progress report underlines that there is absolutely massive potential for onshore renewables in the UK, and with the right policies in place we could start building immediately.
The government doesn’t need to change much to ensure that we can start building renewables at capacity again. A few small planning system amendments could boost investor confidence and support wide-spread and successful subsidy-free onshore renewable generation. Renewable energy projects are almost unique in receiving planning permission for just 20 &#8211; 25 years, which reflected the length of time they received financial support. But now that support has been removed, the government needs to recognise the crucial role of onshore renewables in decarbonising the UK’s energy infrastructure. The time span of planning permissions needs to be changed to in perpetuity to bring renewables into line with other infrastructure projects. This will increase investor confidence and ultimately lead to lower electricity bills for the consumer. Additionally, removing the risk of the existing UK portfolio of renewables from shrinking is key.  Planning guidance should encourage the continued use of existing renewable energy sites, rather than the benchmarking continued operations against a green field.

1 IRENA (2019) Renewable Power Generation Costs in 2018; Bloomberg New Energy Finance (2019) New Energy Outlook 2019. These costs use a generation cost basis, which does not include the systems costs of variable renewables.
2 International Renewable Energy Agency (2019) Renewable Power Generation Costs in 2018

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“The need for action has rarely been clearer. Our message to government is simple: Now, do it.” Committee on Climate Change.

Reaching net zero - We need policy with clear and stable direction

The UK committed to ‘net zero’ carbon emissions by 2050 recently, a very positive move. Matthew Clayton argues that onshore renewables have the potential to play a very significant part in this vital transformation. Read the full article on The Ecologist <a href="https://theecologist.org/2019/jun/18/matching-ambition-action">website</a>.

Our Managing Director, Matthew Clayton, writes for The Ecologist website.

Matching ambition with action

The UK has just committed to reducing carbon emissions to almost zero by 2050. It is communities like this one at Caton Moor who will help us to get there.

Celebrating wind power 

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Wind energy has the power to help deliver net zero carbon emissions by 2050 and deliver economic growth. This film celebrates the difference wind power has made in a rural community.

Video: Celebrating wind power at Caton Moor

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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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.
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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>
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<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>
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<div>4 Includes business rates, land rental and community benefits</div>

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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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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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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

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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Thrive Renewables

Thank you to everyone that is supporting Thrive’s mission to build a cleaner, fairer energy system here in the UK.

The future is green: £5.4 million raised to build new clean energy projects

Having provided the first commercial funding for the project in 2020 and a further £3 million investment in 2023, we’re pleased to see the start of this exciting final phase. Geothermal Engineering Limited (GEL) expect construction work to be completed by summer this year, with the first power to be produced towards the end of 2024.  
We were delighted to be on site to see the start of construction at United Downs alongside other investors.
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The United Downs plant will be harnessing heat from hot granite rocks via two deep wells which were drilled and tested in 2019 and 2020. From this site and other proposed sites in Cornwall, GEL are hoping to produce enough power and heat for 70,000 homes by 2028. 
Recent testing at United Downs has shown that geothermal fluid within the wells has one of the highest concentrations of lithium in Europe at 340 parts per million (ppm). This sustainably produced UK lithium has the potential to fulfil a significant portion of the UK’s lithium, helping to support the growing EV industry.   
Last year GEL were awarded three Contracts for Difference, the first ever for geothermal in the UK. These contracts guarantee a set price for the sale of renewable electricity at United Downs and their other two sites at Manhay and Penhallow.

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

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