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From South Cornwall to Orkney, from onshore wind and solar to geothermal, our diverse portfolio of clean energy projects spans the whole of the UK.

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Thrive brings together flexible funding models, proven technologies, and problem-solving people to turn your clean energy project into a reality.

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Thrive exists to tackle the climate emergency, working with investors, developers, businesses and communities to fund, build and operate clean energy projects since 1994.

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Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. <a href="/risk-summary/" target="_blank" rel="noopener">Take 2 mins to learn more</a>.

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Sign up to our newsletter to be one of the first to hear about new projects, events and industry insight. Your data will be processed in line with Thrive’s privacy policy, available <a href="/privacy-policy/">here</a>.

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kessingland

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

With over 5,500 shareholders, and more than 1,000 bondholders, we’re building our investor community. We do this in two ways, through a bond or share offers when we’re looking to raise large sums for specific projects. This happens roughly every two years with the last bond offer completing in February 2017. The money raised has been put to work, generating returns and connecting more individuals to clean energy.
The other way to get involved and join Thrive’s community of investors is to purchase shares at our monthly share auctions run by our dedicated broker, James Sharp &amp; Co. The monthly auctions allow existing shareholders to grow their stake in Thrive and for new investors to join us and contribute to cleaning up the UK&#8217;s energy system.
<h3>About the share buy-back policy</h3>
<ul>
<li>Shareholders are eligible to benefit from the Buy-Back policy if they have owned their shares for at least 24 months, and had their shares listed for sale on the Matched Bargain Market for a period of 12 months or more.*</li>
<li>Under the Buy-Back policy, the Company undertakes to purchase shares from eligible shareholders at a 10% discount to the <a href="/investors/shareholders-2/directors-valuation/" target="_blank" rel="noopener">Director’s Recommended Share Price</a>.</li>
<li>It is the Directors’ intention that the Buy-Back Policy will increase the liquidity of the secondary shares market and enable sellers to achieve a fair price for their shares.</li>
</ul>
<h3>Next steps</h3>
<ul>
<li>The initial share Buy-Back is subject to shareholder approval at the AGM on 22nd June 2018 and the Company having adequate financial resources to fund the share Buy-Back. </li>
<li>Eligible shareholders will be contacted by Thrive in April and invited to confirm their interest in participating in the Buy-Back.</li>
<li>The Directors reserve the right to cease offering the Buy-Back at any time.</li>
</ul>
Read and download the Buy-Back Policy.

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We’ve introduced a Share Buy-Back Policy with the intention of underpinning the share trading liquidity of the secondary market of Thrive shares and to demonstrate the Directors' confidence in the Directors' Recommended Share Price.

We introduce our share buy-back policy

Figures from the National Grid show that last year was the greenest year ever in terms of how Britain’s electricity is generated with onshore wind farms and renewable energy sources outproducing coal plants on more than 75 per cent of days of the year.
The five turbines at the Ransonmoor site, in operation since 2007, produce 26 GWH of electricity per annum, enough to power 6,600 homes for a year.

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Britain must retain membership of the European Internal Energy Market (IEM) if Fenland’s wind energy sector is to continue to thrive, warned Euro-MP Alex Mayer at the European Parliament.

European market essential for thriving Fenland wind - says Labour MEP

<h3>Survey results and feedback</h3>
Thank you to all our investors who took the time to complete our short survey about how we are communicating as a company. It’s important that we hear your feedback and we were pleased to receive a total of 130 individual responses.
Here&#8217;s a summary of how we&#8217;re improving our communications as a result of your feedback:
<ul>
<li>We’ll keep sending out printed copies of our reports to those individuals without computers or limited access to the internet. We realise this is very important to some of our investors.</li>
<li>We’ll continue to provide the right balance of information in our reports that will help you as an investor to understand Thrive’s growth and performance. We shall communicate this information using clear examples and plain English.</li>
<li>We have put together a section on the website to explain how we are funding community projects. Instead of using the term: ‘mezzanine’, we have now called this type of finance model, the ‘Thrive Community Bridge’. You can understand more about it <a href="/investment-criteria/community-bridge/" target="_blank" rel="noopener noreferrer">here</a></li>
<li>We’ve made it easier to understand how to ‘sell’ thrive shares – it is the same way in which you buy them, through our monthly share auctions. We have made this clearer on the website <a href="/for-investors/buy-and-sell-shares/" target="_blank" rel="noopener noreferrer">here</a>. If in any doubt, please <a href="http://www.thriverenewables.co.uk/about-us/contact-us/" target="_blank" rel="noopener noreferrer">contact us</a> and we can explain further.</li>
</ul>

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As part of our Half Year Report we asked investors how we're doing with our communications. Here are the results and thank you to everyone who took part in the survey. The survey is now closed.

Thrive investor survey results

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The Government proposed a fleet of six new nuclear power plants to be located at Hinkley Point, Sizewell, Bradwell, Moorside, Wylfa and Oldbury. The plan is to deliver a third of the UK’s power from nuclear by 2030.  Whilst I am 100% behind the low carbon agenda, and acknowledge the need for a mix of energy sources in the medium term, I’m not convinced that six new nuclear plants provide the flexibility and shape a more sustainable system needs, or represents good value for money for the UK’s “industry and hard working families”.
Andrea Leadsom MP recently shared that “Hinkley C is only the first in a series of proposed new nuclear projects in the pipeline. It will blaze a trail for further nuclear development.” A frightening choice of words!
Let&#8217;s recap on last year, plans for Hinkley C on the Somerset coast were already well underway, a Government backed fixed price for the power to be generated had been offered to the investors who were willing to build. <a href="http://news.sky.com/story/hinkley-point-c-faces-state-aid-legal-threat-10253456" target="_blank" rel="noopener noreferrer">£2.5 billion</a> had already been spent, ground works have commenced, and a consortium of the majority French State Owned EDF and China General Nuclear (CGN) had given the go ahead to undertake this enormous infrastructure project. The Government completed the picture, having given its go-ahead for Hinkley last September and it was all back on again with the addition of &#8216;significant new safeguards.&#8217;
<h3>Time</h3>
Hinkley C is planning to be exporting electricity to the grid by 2025. At the heart of the project is a European Pressurised Reactor (EPR), known as the 3rd generation nuclear reactors.  Whilst I can’t claim to have an understanding of the engineering and technology involved, the track record with delivering the EPRs does cause concern.  Projects employing similar technology in China, Finland and France are all years behind build schedule (six and nine years late in the case of France and Finland respectively) and significantly over budget. We live in hope that lessons are being learnt and that we will not have to wait for many years with an open cheque book for this project to be delivered.
However, this delay creates an opportunity for the alternatives.  If the current planned energisation of Hinkley C is 2025, and we assume an optimistic five year delay to 2030, then there is a gap in UK electricity generation capacity which is required to ‘keep the lights on’. New Coal and Gas fired power plants are unlikely to be built in the interim.
This uncertainty and delay could well be an opportunity for renewables. Few energy generation technologies can be installed and energised as quickly as wind, solar and hydro, with build times as short as four months, and if planning was more straight forwards, up to two years.
If planning decisions could be made in a more objective rather than subjective way, less like a very expensive game of Battle Ships and more of a strategic and pragmatic approach, then Renewables could plug the gap. If after 15 – 20 years these giant infrastructure projects are successfully built, tested and energised, then the renewables can supplement the grid with lower cost energy or be dismantled and re-erected elsewhere in the world.
<h3>Money</h3>
The energy system needs investment, the UK’s traditional, enormous, centralised-system coal generation plants are being retired, and despite our efforts with energy efficiency and another successful year of commissioning new renewable capacity, the National Grid’s reserve margin is shrinking.
So we agree, we need to invest, but what to invest in?
Cost estimates for the Hinkley C Nuclear project started at £6 billion, grew to £18 billion over the last 12 months and now both the National Audit Office and DECC (as was) are projecting a cost of <a href="http://www.bbc.com/news/business-36794172" target="_blank" rel="noopener noreferrer">£37 billion</a>, even at £18 billion this is the UK’s largest infrastructure project. So as projected costs increase, is this money well spent, and what are our alternatives?
Assuming the nuclear plant will cost £18 billion, then one alternative would be to build 9,125MW of wind, solar and hydro which can generate the same amount of energy as the proposed 3GW nuclear plant.  However, there are differences between the nuclear and the renewables solution:
<ol>
<li>The cost of installing renewable generation and storage is falling rapidly, whilst it would appear that the cost of Nuclear is growing and being built within undefined timeframes;</li>
<li>Renewable energy projects don’t generate hazardous waste and their decommissioning costs are minimal, this is not the case for Nuclear Energy;</li>
<li>We would have some money left in the bank with the renewable option.  The Energy sector could deliver material improvements in energy efficiency and flexibility with the £700 million change after building the renewable projects.  If we consider the latest estimate of £37 billion cost of Hinkley C, then we would have over £19 billion left to invest in smart systems, storage and energy efficiency to improve the electricity system to allow it to utilise more renewable generation.</li>
</ol>
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The UK’s renewable energy capacity grew to 30GW in 2015, having installed 5.4 GW of new renewable generation over the course of 2015[1] . On this basis the required renewable generation capacity to match the generation of Hinkley C could be delivered in less than two years at a lower cost. I fully appreciate that a mix of energy sources is desirable, but my question is: Is Nuclear the best use of investment in the sector, and can we not be a little smarter in our approach?  We could deliver revolutionary, structural change in terms of energy efficiency, flexibility and storage with a budget of £19 billion, ultimately requiring less generation capacity, lowering cost and reducing Green House Gas emissions.
Even as technology stands at the moment wind, solar and hydro can undercut the £101/MWh[2] which has been promised to Hinkley C by more than 25%. When savings are reaching billions of pounds, there is scope to take more innovative steps to both the demand and supply of electricity.
<hr />
[1]  DECC Energy Trends 2016
[2]  The £92.50 / MWh Feed in Tariff offered to Hinkley C is in 2012 money. Adjusting the Tariff to 2016 is £101 / MWh
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Hinkley will take at least ten years to build, in the meantime, can renewables step up and bridge the gap?

Big plans, time is money - The nuclear agenda

This is where Thrive steps in. It’s our mission to power the transition to a sustainable energy future by helping people meaningfully connect with clean energy projects. In 2016, we developed a funding model called: ‘The Thrive Community Bridge’ as a way of responding to this growing desire for community owned renewables. We’ve already supported communities with £12 million investment into wind and solar projects across the UK and we want to do more projects like this.
<h3>We empower communities to Thrive:</h3>
We give communities the time they need to raise their own funds through local ‘crowdfunding’ or/and via a bank loan – this is why our finance model is called a ‘bridge.’
<ul>
<li>Our funding gives communities a sense of local ownership and empowerment to say: ‘Together, we own our renewable energy at source.’</li>
<li>We are uniting communities through a common movement to invest in and own clean energy.</li>
</ul>
<h3>We offer speed and flexibility:</h3>
<ul>
<li>We act quickly and efficiently to help communities get the most out of their purchase.</li>
<li>We are experts in acquiring and funding a range of small-to-mid scale projects.</li>
<li>We offer flexible finance for a range of project types: hydro, solar, wind and storage.</li>
<li>We have access to a wide network of industry contacts, partners, suppliers, and industry bodies.</li>
</ul>
<h3>Our investment terms are transparent:</h3>
<ul>
<li>We fund investments between £0.5M and £20M.</li>
<li>We invest in proven 100% sustainable energy projects.</li>
<li>We structure the finance to respond to the needs of the community and the specifics of each project.</li>
</ul>

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We are supporting communities in taking ownership of their local energy projects. See how our finance model called the 'Thrive Community Bridge' works.

The Thrive community bridge

The day took an unusual turn when one visitor asked: ‘What’s that strange thing outside on the tree?’
Luckily, local ecologist Bernice Roberts, of the Landmark Practice, was on hand to advise. To their amazement they discovered a huge natural ‘honeycomb’ beehive spilling out of a bat box attached to a tree.

In perfect timing, Bernice discovered, to her surprise, that the face painter at the open day was a local bee enthusiast who put her in touch with local natural beehive co-ordinators, Sal Pearson and Roger Wood.
It was a race against the clock to save the beehive as the weather had taken a turn for the worst.

Mark Doughty, Principle Ecologist at Wessex Water, landowners of the site, co-ordinated saving the bees. It all worked out well as Mark has been connected to bees all his life, his father is a veteran beekeeper. He naturally stepped in to help save the colony.

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A rare, giant beehive is creating a buzz among experts after taking up residence inside a bat box at Thrive's wind farm in Avonmouth.

Giant 'Honeycomb' beehive discovery

We agree with much of the high level direction of what Dieter Helm is recommending. We must achieve greater energy efficiencies, at home and in industry. We must transition to a smarter energy system, where supply and demand are dynamic in responding to energy availability. We’ve long been advocates of a functional carbon dioxide emissions market, where there is a cost attached to emitting greenhouse gases (GHG), the polluter pays, thus driving low and zero GHG emission solutions forwards. Where investment decisions are influenced directly by environmental performance and where the market can successfully identify employ the least cost GHG emission abatement technologies.
One of the study’s conclusions is that the growth in renewables&#8217; contribution to the electricity sector (delivering almost <a href="https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/612492/Energy_Trends_March_2017.pdf" target="_blank" rel="noopener noreferrer">quarter of the UK&#8217;s electricity</a> in 2016 , and anticipated to reach 30% this year) has lowered the wholesale price of electricity. There is acknowledgment that following the falling cost of renewable technologies, that going forwards renewable generation offers least cost electricity.
Helm has also established that support for the proliferation of renewable electricity which has been delivered to date makes up <a href="https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/654902/Cost_of_Energy_Review.pdf" target="_blank" rel="noopener noreferrer">20% of the cost of our electricity</a> in the UK. So, what does this mean for the average household in the UK? On average <a href="https://www.ofgem.gov.uk/publications-and-updates/infographic-bills-prices-and-profits" target="_blank" rel="noopener noreferrer">we pay £554 p.a.</a> for our domestic electricity consumption. So that implies we are paying £111 p.a., or £9.25 per home, per month for achieving one of the largest positive shifts in environmental performance the UK has ever seen. I fully appreciate that for our lowest income households £9 per month has a material impact. However, as the world’s 5th largest economy, it is incumbent on us to demonstrate some environmental leadership. The way electricity is sold could address the sad reality that those with the lowest incomes pay most for their utilities.
So, what could we be doing with our £9 per month? Sign up to an internet music or film streaming subscription, buy five newspapers, enjoy a posh coffee every week, or, deliver a material reduction in GHG emissions through our electricity system. What is being achieved with our £9 per month? As mentioned above, we are sourcing more than 25% of electricity from renewable sources, which means that annually there is now 1.6 tCO2e of emissions released into the atmosphere to generate our <a href="http://www.renewableuk.com/page/UKWEDExplained" target="_blank" rel="noopener noreferrer">average 3,900kWh</a> household electricity consumption. If we wind back the clock to 2008, this was 2.0 tCO2e, and in 1990 <a href="https://www.parliament.uk/documents/post/postpn_383-carbon-footprint-electricity-generation.pdf" target="_blank" rel="noopener noreferrer">2.8 tCO2e</a>.  Progress indeed. This has been achieved by reducing our dependence on finite fossil fuels, and increasing our use of abundant natural, renewable sources of energy.
However, there isn’t time for complacency as the GHG emission intensity of our electricity needs to halve and halve again (and quickly) from today’s levels if we are to achieve our 2°C ceiling which we and 168 other nations have ratified following the Paris Climate Summit in 2015.
Whilst we’d prefer to have been part of an energy revolution which had miraculously leaped over 25 years of technology development, climatic understanding, public consciousness and political thinking, the reality is that change takes time, and the leap we’ve collectively made from ‘alternative energy’ to renewables and the associated environmental benefit has taken time and has a price, a price which is falling all the time and will dissipate over the coming years as existing facilities are retired and replaced with the next generation of best in class technology. So we’ve made the leap, we are delivering <a href="https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/612492/Energy_Trends_March_2017.pdf" target="_blank" rel="noopener noreferrer">over 24% of our power using renewables</a>, now we can benefit from our learning, by more efficiently delivering the next 75% whilst simultaneously lowering the cost of our electricity.
How many of us, given a transparent choice would prefer to pay £9, or perhaps more per month to improve air quality and deliver the associated health benefits, reduce the need to redesign our coastline to defend us from rising sea levels and more ferocious weather systems, keep our finite resources in the ground for when we really need them, and be proud of the legacy we are passing to future generations?
It feels like an investment worth making.

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The government has today released the Cost of Energy Review to make recommendations on how we make energy cheaper in the UK whilst also delivering the environmental imperatives.

The cost of UK renewables - Good value, or great values?

Thrive’s <a href="/about-us/meet-the-team-1/">Board and Management</a> team: Matthew Clayton, Monika Paplaczyk, Katie Gordon and Alex Connor, as well as valued partners, Tom Harwood from Abundance were there to share the good news and network with some of the UK’s finest sustainable fund managers and organisations.
Thank you to everyone including, Triodos Bank Corporate Finance team, who has been instrumental in making the bond offer with IFISA such a success raising £10M for green energy projects and attracting over 900 new positive investors to Thrive.
The awards are aimed at fund managers and organisations who are at the forefront of facilitating or investing in themes that take into account the environment, ethics, as well as social and corporate responsibility, and whose work promotes a greater understanding into the sector&#8217;s potential.
Now in their tenth year, Investment Week&#8216;s Sustainable Investment Awards offer an opportunity to showcase expertise and commitment to investment factors that take into account environmental, social and ethical criteria as well as good corporate behaviour. Factors that are increasingly in demand by investors and a growing sector of the investment industry.

<h3>About Thrive&#8217;s award entry</h3>
In 2016/2017 Thrive raised a total of £13M for renewable energy projects through innovative online crowdfunding and was the first bond offer to be available through the Innovative Finance ISA (IFISA).
<ul>
<li>The Thrive Plc bond offer raised £9.97m for new sustainable energy projects in the UK exceeding its target of £7.5m by 33 per cent.</li>
<li>The funds are now being deployed into onshore wind and solar projects with the aim of generating a further 36,000 UK homes with clean electricity in 2018.</li>
<li>933 individuals invested their money in Thrive Renewable’s bond from just £5 online.</li>
<li>Whilst the 5% interest rate and IFISA benefits provided a healthy incentive to investors, Thrive’s bond demonstrates strong investor appetite and support for UK renewable energy.</li>
<li>Working with Triodos Bank’s corporate finance specialists and Abundance Investment, Thrive was able to offer Bondholders the opportunity to include their investment in their IFISA.</li>
</ul>

We are thrilled to have been recognised for the category award for 'Innovation (non-fund)' for our successful green energy bond with IFISA.

Thrive Renewables is 'highly commended' for Investment Week's 'Sustainable Awards' 2017

We have now successfully deployed all of the £10m raised in the 2016 Thrive Renewables plc bond offer into four renewable energy projects. In the case of three of these projects we have invested into existing sites to provide local communities with the opportunity to take direct ownership of the projects in their area. This includes Brockholes, a 2.4 MW wind farm in the Scottish Borders which we’ve invested in since the enclosed report has gone to print.
As we adapt to market conditions, our flexible and award-winning investment model is delivering impact and connecting more individuals to clean energy projects.
<a href="/documents/2017-half-year-report/" target="_blank" rel="noopener">View the full report here</a>.

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TIDE &amp; ISE 2018

We are pleased to present the 2017 Half Year Results with an update on the Company’s operational and financial performance to 30 June 2017.

2017 half year results

Its marginal cost is basically zero, its supply is infinite and contrary to some opinion, reliable, when used in conjunction with other renewable sources (if you have hydro, solar, wind and tidal – you have no reason to worry about black outs).
Sure, the transition takes a bit of effort, but once it’s done, it’s done. And it really will be done.
Last week, the amazing news broke that offshore wind has become the lowest cost option for large-scale, low-carbon power in the UK, after the price paid for electricity from the turbines fell by more than 50 per cent in two years.
If common sense were the only factor behind energy policy, this news should mean curtains for projects such as Hinkley Point C. However, policy decisions never seems as straightforward as: “this is lower cost and lower carbon, let’s make it happen”.
Another example of energy policy failing to make sense came in 2015, when, just as small scale wind and solar were really cranking up, with the costs and subsidies meeting at just the right place for mainstream investors and developers to see real appeal, the Government swiped away the bulk of the subsidies. Just like that. The move put the brakes on a rapidly accelerating sector over night.
Many developers put the last few projects in the ground, then shut up shop. Homeowners who had been in two minds about getting panels suddenly saw their sums didn’t add up.
It looked like a victory for the anti-wind turbine lobby (which also contains a fair few climate change sceptics). The message from the Government was that it was time for the sector to stand on its own two feet – which had, to be fair, always been the goal. But the sector wasn’t quite ready.
At the time, that decision felt like game over. But Matthew Clayton, managing director of <a href="/?utm_source=Good%20With%20Money&amp;utm_campaign=MC%20interview">Thrive Renewables,</a> offers a long term perspective, seeing it as a lull from which the sector will soon recover.
Read the full story at the <a href="https://good-with-money.com/2017/09/18/interview-watch-out-for-the-renewables-comeback/" target="_blank" rel="noopener noreferrer">Good With Money </a>website.

Good With Money interviews Matthew Clayton, MD at Thrive: The thing about renewable energy is: it makes total sense. So much so that it’s hard to understand why any energy would not be renewable, now we have the technology to harness it.

Interview: Watch out for the renewables come back

The wind farm comprises of three 2.3 MW Enercon turbines across the valley from the existing High Winds two turbines at Harlock Hill in south Cumbria. Through co-operation, the Energy4All family of Co-ops has been able to acquire an existing wind farm from a commercial operator.
This purchase demonstrates the ability of the community sector to operate in the business world, and reflects the appetite for greater community ownership of renewable energy as an end in itself, especially important since most of the government subsidies for new build have been substantially reduced.

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MEANMOOR

Three renewable energy co-operatives, High Winds Community Energy Society, together with Baywind Energy and Energy Prospects, and with the support of the ethical investment company Thrive Renewables, have acquired the Mean Moor wind farm in Cumbria.

The power of co-operation in the community owned renewable energy sector

Here’s one potentially gargantuan implication: as a result of the cost decline, it’s now possible to develop new offshore wind farms for a guaranteed price of £57.50<a class="js-scroll-done" href="https://good-with-money.com/2017/10/09/why-wind-could-become-the-uks-no-1-energy-source/#_ftn1" name="_ftnref1">[1]</a> per megawatt hour. This compares with the Government’s commitment to pay £92.50<a class="js-scroll-done" href="https://good-with-money.com/2017/10/09/why-wind-could-become-the-uks-no-1-energy-source/#_ftn2" name="_ftnref2">[2]</a> per megawatt hour to the planned Hinkley Point.
Matthew Clayton, managing director of Thrive Renewables, a <a href="http://goodegg.good-with-money.com/">Good With Money Good Egg company</a> that allows people to invest directly in UK renewable projects, said: “The results of the <a href="https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/643560/CFD_allocation_round_2_outcome_FINAL.pdf">offshore auction</a> price is a great success for the sector and a milestone for the transition to a cleaner energy system. The UK is playing to its physical strength, we are exposed to a powerful wind regime and as an island, we have a long coastline.
&#8220;The Government can on one hand be pleased with the cost reduction, but on the other hand, this does make the cost of Hinkley Point C nuclear plant now seem way out of the market.”
<h3>The renewables revolution</h3>
The UK’s renewable energy capacity has been steadily gaining pace, <a href="https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/647752/Energy_Trends_Sep_17.pdf">BEIS</a> Energy Trends report for Sept 2017 shows renewable electricity generation capacity grew to <a href="https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/647752/Energy_Trends_Sep_17.pdf">37 gigawatts</a> in 2017, having installed 4.4 gigawatts of new renewable generation over the course of 2017. Renewables are now generating more than a quarter of the UK’s electricity.

UK offshore wind power has just become materially cheaper than nuclear. This is a major step forward for UK renewable energy and we hear from Matthew Clayton, MD of sustainable investment company, Thrive Renewables about what this means for the industry. Written by Rebecca O'Connor - Good With Money

Why wind could become the UK's number one energy source

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.

There is no such thing as 'net zero oil and gas': We respond to the King's speech

We expect these community hubs will continue to act as warm and welcoming refuges for residents this year in the face of the ongoing cost of living crisis. In addition, we’re providing energy essentials training to community volunteers in order to help local people improve energy efficiency in their homes.
A record number of applications were made for round seven of our Community Benefit Programme which is run by national energy charity, Centre for Sustainable Energy (CSE).

In total we have awarded £37,692.89 of funding to the following 10 community centres across the UK:
<ul>
<li>Debenham Shed</li>
<li>Halton Community Association</li>
<li>Littleport Scout and Guide Joint Headquarters Management Committee</li>
<li>Millom Methodist Church</li>
<li>Orkney Natural History Society</li>
<li>PCC St Peters Church March</li>
<li>Peedie Kirk URC</li>
<li>Tivetshall Village Hall</li>
<li>The Groundwork South Trust Limited</li>
<li>Young Bristol</li>
</ul>
The grants will enable these community organisations to make crucial energy efficiency improvements to their buildings ahead of winter, such as roof, window and wall insulation, double glazing and LED lighting. CSE are also offering a series of webinars for these communities on topics including fuel poverty awareness and basic energy advice, community approaches to tackling fuel poverty and energy efficiency in community buildings.
Since we first started the programme in 2016, we have awarded 61 grants to 50 buildings, totalling over £190,000 nationally and saving 85 tonnes of carbon dioxide emissions each year.

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