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

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

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

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The theme for this year’s Earth Day is “Invest in our Planet” – a continuation from 2022. The decision to continue last year’s theme points to both its timeliness and significance. Highlighting the importance of dedicating our time, resources and energy to solving climate change, the theme also speaks more widely to how tackling environmental issues not only leads to a greener world, but to a fairer and wealthier world. This was the message from the IPCC’s most recent climate change report, which called for urgent and ambitious action, emphasising the wider social and economic benefits that will come with this – green jobs and access to more affordable energy to name just a couple of examples.

As an ethical business that prioritises its social impact just as much as its environmental one, this year’s Earth Day theme is relevant on a number of levels. Our mission is to power the transition to a sustainable energy future by helping people meaningfully connect with clean energy projects. We do this by investing in new renewable energy projects, diversifying our portfolio which now includes wind, solar, hydro and battery storage. Building new clean energy sites across the UK is essential for reducing our reliance on harmful, expensive fossil fuels, but also for facilitating a fairer energy system and providing direct benefits to local communities – a focus on local, homegrown renewables is fundamental to our investment approach and underpins our wider mission.  
<h3>Powering communities </h3>
For us, an essential part of “investing in our planet” is investing in local and direct wire renewables. Not only do local renewables reduce the pressure on the grid, but they also benefit communities directly by providing access to cleaner, cheaper energy and in many instances, providing green jobs in the local area.  
We’re proud to have funded the construction of England’s largest wind turbine that’s 100% community owned. Revenues generated from the 4.2MW turbine will be reinvested back into the local area in Lawrence Weston, Bristol, helping to drive regeneration. Also in our home city of Bristol, we’ve offered a local community group shared ownership of our 20MW battery storage project. We’re the first commercial owners in the UK to offer shared ownership of our standalone battery project like this and we’re excited to see money raised from the generation being put towards local causes.  
Via our Community Benefit Programme, we offer energy efficiency grants to community centres close to our sites so they can reduce their carbon footprint while reducing running costs. In the latest round of the programme, we offered over £30,000 worth of funding to 10 community centres, including Easton Community Centre in East Bristol. Our £4,000 grant was put towards installing pipe and loft insulation, helping the to create a warmer and more welcoming space so that the centre could continue running its vital community services.  
<h3>Creating a sustainable workplace </h3>
“Everyone accounted for, and everyone accountable” – Earth Day calls on all of us to play our part in addressing the climate emergency, emphasising the key role that businesses have in this. As an Impact driven business we continually review our governance and processes to ensure we’re maximising our environmental impact while also providing a positive workplace for our team. We’re a proud B Corp and have for the second-year running been awarded ‘Best for the World’, ranking us among the top 5% of all B Corps in the environment category. As part of B Corp’s Climate Collective we’ve pledged to meet Net Zero by 2030. To date, the clean energy projects we have built have saved over 1 million tonnes of carbon dioxide, however we’re continuing to focus on further reducing our emissions, measuring our performance against the UN’s Sustainable Development Goals.  
We offer sustainable travel incentives for our team, including a bike to work scheme and Climate Perks which grants employees extra paid holiday when choosing sustainable travel. Our office building itself is BREEAM Excellent Certified and all our power is sustainably sourced.   
<h3>Protecting and enhancing biodiversity </h3>
Biodiversity loss goes hand in hand with climate change and is an essential aspect to address when discussing what it means to “invest in our planet”. Whenever we invest in a new clean energy project, we commit to conserving and enhancing the site’s biodiversity as set out in our biodiversity policy. For example, at our battery storage site in Feeder Road, we’ve installed a number of bird, bat and invertebrate boxes, as well as planting trees, hedgerows, species rich grassland, shade scrub and native ferns that will strengthen local habitat corridors and provide wildlife with food, nectar and pollen. We pledge to achieve 10% Biodiversity Net Gain from all projects developed after 2022 with the aim of exceeding this target where possible. 
While we’re always looking at how we can maximise our environmental impact, global celebration of the climate action movement, like Earth Day, are important for inspiring the mass action that needs to be taken in the climate emergency. There are plenty of ways to get involved in Earth Day. To find events in your area and access a range of online talks and articles, make sure to visit the <a href="https://www.earthday.org/earth-day-2023/" target="_blank" rel="noopener">official Earth Day website.</a>

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Hear our thoughts on this year’s theme as we consider Thrive’s role in tackling the climate emergency and the wider impact of building a sustainable future.

Earth Day 2023: What does it mean to "invest in our planet?"

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The aim of the Green Energy Awards is to celebrate the best projects, leading organisations and inspiring people that make up the renewable energy and energy efficiency sector, so were pleased to be shortlisted for two awards this year – net zero energy developer and net zero energy pioneer for our investment director, Monika.
We were thrilled to come home with one of those awards, winning net zero energy developer of the year against some stiff competition! The judges were complimentary not just about what we’ve achieved in terms of capacity, but our mix of technologies, innovative approach to finance and our collaborations with both business and communities.
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We had a brilliant time celebrating all the individuals and businesses working hard to deliver a cleaner, better future in the UK.

Winning Net Zero Energy Developer of the Year at the 2023 Green Energy Awards

In what some dubbed ‘energy security day’ and others called ‘green day’, the government formally responded last week, publishing a myriad of policy documents (more than 2,800 pages!) including its updated energy security, net zero and green finance strategies. The results were largely underwhelming – with a focus on technologies that are unproven and have poor, or no track record when it comes to deployment. Below we explore some of the key announcements made and what it means for our transition to a renewables-based energy system.
<h3>We shouldn&#8217;t be ignoring technologies that are cheap and easy to deploy</h3>
We were happy to see some positive announcements around offshore wind, solar and green hydrogen, along with some important consultations which will provide more clarity for these technologies in the years to come. However, it’s fair to say that the focus for new funding and policy was very much directed at nuclear and carbon capture and storage (CCS).
When delivering the Spring Budget, Jeremy Hunt launched a consultation to classify nuclear power as ‘environmentally sustainable’. It was therefore no surprise to see the government confirming that it would be scaling up the UK’s nuclear programme through its new ‘Great British Nuclear’ scheme, with the ambition to ramp up nuclear capacity to 24GW by 2050. As well as nuclear, the government used its ‘energy security day’ to reiterate its support for CCS, confirming up to £20 billion in funding.
As the Intergovernmental Panel on Climate Change (IPCC) stated recently, when it comes to net zero, there’s no time to waste – this really is our last chance to get it right. The issue is that small nuclear and CCS are still unproven and will take years to deliver. Renewables such as onshore wind and solar are some of the quickest to deploy and are already delivering cheaper, cleaner power to industry and local communities in the UK. The huge potential for renewable generation was also highlighted in Chris Skidmore’s recent <a href="https://www.gov.uk/government/publications/review-of-net-zero" target="_blank" rel="noopener">Mission Zero report</a> – an independent review of the government’s net zero strategy which resulted in 129 recommendations that would allow the UK to better reap the economic, environmental and social benefits of net zero. According to<a href="https://www.businessgreen.com/analysis/4090316/vague-ugly-government-responded-chris-skidmores-net-zero-review"> BusinessGreen</a>, less than half of those recommendations will be taken forward.
While we await further clarification on the consultation into its National Planning Policy Framework, which would make building new onshore wind turbines easier in England, we welcome the government’s decision to make planning easier for solar, committing to developing a ‘solar roadmap’ that will set out the pathway to reaching 70 GW of solar generation capacity by 2035. It also announced a pledge to establish a joint taskforce to drive further growth.
<h3>A local route to net zero</h3>
Another of the measures identified in the Mission Zero report was the need for a Local Electricity Bill. Recognising the role communities have to play in the clean energy transition, Chris Skidmore suggested that alongside the Bill, the government should publish ‘a Community Energy Strategy that addresses the regulatory, legislative, funding and capacity barriers in the sector’, as well as the support available for innovative projects.
We’re big believers that, by introducing a Local Electricity Bill, the country could unlock the huge potential for small-scale, local energy systems which remove some of the technical challenges we currently face when it comes to transmitting energy. Not only do community energy projects help to bring cleaner, cheaper power to more homes and businesses across the UK, but they also create new jobs and acts as a driver for regeneration. Our recent work with Ambition Community Energy is an example of this in action – the group will be able to use the revenues from England’s largest onshore wind turbine to plug back into local good causes, including building an Energy Learning Zone which will help to upskill residents in Lawrence Weston, Bristol, for green careers. Unfortunately, it cannot currently supply electricity directly to local homes – which is something the Local Electricity Bill would help to address.
Dismissing the need for a community energy strategy, the government confirmed that it will continue to work with the sector through the Community Energy Contact Group on some of the key policy and delivery issues which impact the sector, as well as providing support to local authorities and community energy groups through its ‘local net zero hubs’.
As well as prioritising large-scale, early development projects, we think smaller, community-based projects have a huge role to play as part of a bottom-up transition that would allow us to decarbonise at the scale required for net zero. None of these changes will prevent us providing continued funding to community groups looking to build their own clean energy projects, building on the £16 million we have already invested in community-based wind and solar projects across the UK.
<h3>‘Everything, everywhere, all at once’</h3>
In March, the Intergovernmental Panel on Climate Change (IPCC) delivered its “final warning” on the climate emergency, confirming the urgency of taking more ambitious action and adding that, if we act now, we can still secure a more sustainable future. On releasing the report, the UN secretary general, Antonio Guterres, said that “Our world needs climate action on all fronts: everything, everywhere, all at once.”
Coming just a couple of weeks later, it feels like the government has missed an opportunity when it comes to low-cost, homegrown renewables, focusing more heavily on technologies and policies that will take a long time to start delivering and are more expensive than proven renewable technologies.
We now need quick and decisive action to ensure the UK not only stays on track to meet its decarbonisation goals but also incentivises further green investment moving forwards. While the government continues its consultations, for us it’s all about getting things done. We’ll continue funding and building new clean energy projects that contribute to the UK’s net zero goals and deliver cleaner, cheaper power for people today.

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Following on from last week’s ‘Energy Security Day’, we unpack some of the government’s latest policy updates.

Government 'green' announcements - Some positives but lacks urgency and misses the opportunities renewables can deliver

We’re committed to helping these centres continue to thrive by providing energy efficiency grants for community buildings via <a href="/our-impact/community-benefit-programme/" target="_blank" rel="noopener">our Community Benefit Programme</a>. Working with the <a href="https://www.cse.org.uk/" target="_blank" rel="noopener">Centre for Sustainable Energy</a>, we provided over £30,000 worth of funding to ten community buildings located close to our clean energy sites in 2022.  
Included in the list of grantees was the <a href="https://eastsidecommunitytrust.org.uk/our-places/easton-community-centre/" target="_blank" rel="noopener">Easton Community Centre</a>, which is located near to our 20MW battery storage project at Feeder Road in East Bristol. Eastside Community Trust which runs the centre, as well as the Felix Road Adventure Playground, identified heat loss and rising energy costs as a significant problem. We’re thrilled to have been able to support the centre in addressing these issues by providing a £4,000 grant that has helped them to install essential loft and pipe insulation.  
These energy efficiency improvements have helped the team to reduce their operational costs at a time when it’s really needed, ensuring they can continue providing a warm and comfortable space for the local community to enjoy.  
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The upgrades we have supported the centre with also mean that they can continue offering vital services to residents, which ranges from community advice on energy efficiency and retrofitting to providing a base for Bristol’s Somali Youth Voice – a grassroots organisation that advocates for and empowers disadvantaged young people living in the city. As well as this, the centre is home to Somali Kitchen – a women-led CIC offering advice and volunteering opportunities to Somali women, the BCfm community radio station, HIV &amp; Aids charity Brigstow, the Raised In Bristol nursery and Houria CIC, an anti-racist café and catering business supporting migrant women and those escaping modern slavery.  
It’s a place where the community can seek advice and share ideas, or simply have a warm, safe haven to rely on.
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As well as the Easton Community Centre, the other buildings we have supported over the past year include Knowle West Media Centre in Bristol, Birsay Community Hall in Orkney, Colne Village Hall in Cambridgeshire, Helmdon Reading Room near Milton Keynes and Strichen Playgroup in Aberdeenshire.

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During round six of our Community Benefit Programme, we provided £4k in funding to Eastside Community Trust so it could continue providing a warm & welcoming space to the local community.

“We like to call it the neighbourhood's living room": Shining a light on our Community Benefit Programme with Easton Community Centre

That’s why we’re thrilled to be teaming up with community energy group, Bristol Energy Cooperative, to give local residents the opportunity to own a share in our 20 MW battery located on Feeder Road in Bristol. This is the first time in the UK that an owner has offered the local community an opportunity for shared ownership of a standalone commercial battery project.  
The battery is currently being commissioned and when it’s live will have the capacity to store and deliver 1.5 hours or 30MWh of electricity to the national and local grid. Not only will the project provide crucial flexibility and balancing services, but the agreement with BEC means that local causes will be able to benefit from a share of any revenues generated.

We’ve invested a total of £29 million in clean energy projects across Bristol, funding more than a third of the city’s renewable electricity generation and storage capacity (37%)*. This includes our 8.2MW wind farm in Avonmouth and the £4 million loan we provided to Ambition Community Energy (ACE) to fund the construction of England’s largest community-owned onshore wind turbine.  
The local community have been heavily involved since the start of the project. In 2020, the site was originally signposted for a diesel-fuelled STOR plant however, thanks to a successful planning appeal from a group of residents in St Phillip’s Marsh, the project was shelved. <a href="https://rade-bristol.com/" target="_blank" rel="noopener">‘Residents Against Dirty Energy’ (RADE)</a> is now helping to support groups facing similar issues elsewhere. 
With construction now complete, our team has also developed a landscape plan for Feeder Road that will help to protect and enhance the biodiversity of the site. We’ve focused on providing the resident wildlife with more places to nest and shelter. This includes installing a number of bird, bat and invertebrate boxes, as well as planting trees, hedgerows, species rich grassland, shade scrub and native ferns that will strengthen local habitat corridors and provide wildlife with food, nectar and pollen. The biodiversity improvements at the site will amount to a total investment of £100,000.

*Based on non-combustion renewables including wind, solar and battery storage, excluding anaerobic digesters and energy from waste. 
<a href="https://www.gov.uk/government/publications/renewable-energy-planning-database-monthly-extract">https://www.gov.uk/government/publications/renewable-energy-planning-database-monthly-extract</a>

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Bristol Energy Cooperative will be able to make a co-investment of up to 20%.

Powering our communities: Thrive becomes the first commercial battery owner to offer shared ownership to local community group

The increase was, in part, due to higher levels of wind in 2022, with our 13 onshore wind projects responsible for producing over 90% of total generation for the year.
In fact, National Grid ESO reported that wind farms contributed <a href="https://www.reuters.com/business/energy/britain-produced-record-amount-wind-power-2022-national-grid-2023-01-06/" target="_blank" rel="noopener">a record 26.8% of the country’s electricity in 2022</a>, with a new milestone for wind generation set on 30 December, <a href="https://www.theguardian.com/environment/2023/jan/03/uk-sets-new-record-for-turbine-power-generation-after-period-of-low-wind" target="_blank" rel="noopener">when 20.91 GW were produced by the UK’s fleet of onshore and offshore turbines</a>. The ESO also said a new record was set for the share of electricity on the grid coming from zero-carbon sources, which supplied 87.2% of total power on the same date.
As a result of strong generation from wind and solar, the UK also saw substantial carbon emissions reductions in 2022, with <a href="https://www.carbonbrief.org/analysis-uk-emissions-fall-3-4-in-2022-as-coal-use-drops-to-lowest-level-since-1757/" target="_blank" rel="noopener">new analysis from Carbon Brief</a> finding that greenhouse gas emissions fell by 3.4% in total.

According to Regen and National Grid ESO’s study ‘A Day in the Life’, we need 35 GW of onshore wind by 2035 to meet net zero.  The government’s recent consultation, which was seeking viewpoints on proposed changes to the National Planning Policy Framework, will determine the future of onshore wind in England, after a 2015 amendment made it almost impossible to build new projects. By removing the amendment and returning to the levels of deployment that were being achieved prior to 2015, the UK would be able to deliver cheaper bills for consumers, improve its energy independence, support new jobs and, ultimately, achieve net zero.
It was positive to see the government addressing repowering as part of the consultation and we look forward to receiving further clarification on this. Replacing England&#8217;s aging wind turbines with more efficient models will help to produce more renewable electricity, which can then be used to complement new wind projects in delivering the capacity required for net zero. It is essential in the context of the global climate emergency and the UK’s decarbonisation efforts that we do not lose any of our existing onshore fleet.
In 2006, we successfully replaced 10 turbines with just 8 more modern and efficient machines at our Caton Moor wind farm in Lancashire. With two fewer turbines, and only a small increase in the height of each, output from the site was increased seven-fold to 47 million kWh of electricity per annum.

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Thrive renewables open day in Avonmouth. September 2022.

We generated enough renewable electricity to power all the homes in a town the size of Halifax.

Blown away: Generation levels up significantly following record-breaking year for wind power

The new funding will be used to complete construction of the project by 2024. The site operator – Geothermal Engineering Limited – predicts United Downs will deliver 2Mwe of baseload electricity once operational, and up to 10MWth of zero carbon heat, which will be used by a large housing estate at Langarth, developed by Cornwall Council.
£15 million has been raised in total, with an additional £12 million has been investment from Kerogen, a private equity fund manager specialising in international energy.

Thrive made the first commercial investment of £3 million into United Downs in January 2020 to support final testing and preparation of wells at the site, as well as £0.47 million into Geogen in 2021 to fund planning applications for additional potential geothermal sites in the UK. Two of these sites – Penhallow and Manhay – have now received planning permission.

The UK has significant geothermal resources which, if harnessed, can play an important role in both the UK’s energy security and its transition to net zero. Geothermal technology offers a homegrown, low carbon and sustainable form of energy. Crucially, this technology is capable of generating 24/7 baseload power, enabling the UK to diversify its energy market whilst providing large scale and predictable capacity.
It also holds significant potential for local, low-carbon lithium production – with GEL finding a high concentration of lithium in the geothermal fluids at United Downs – which could then be used to support the roll out of electric cars in the UK.

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After providing the first commercial funding for the United Downs Geothermal project in 2020, we’ve made an additional investment to complete construction at the site.

Thrive makes further £3 million investment to get the UK's first deep geothermal plant into operation

The theme for this year’s International Women’s Day is ‘Embrace Equity’, with an aim to get the world talking about why equal opportunities aren&#8217;t enough. People start from different places, so true inclusion and belonging require equitable action.
To mark the occasion, we caught up with our chair, Jo Butlin, who has had an impressive 25-year career leading and operating energy businesses across the UK, with roles including E.ON UK, SmartestEnergy and Utilyx. In 2017, she also set up her own consulting company, EnergyBridge Limited, to help businesses and investors navigate the evolving energy market.
Empowering other women is something Jo is incredibly passionate about, which is why she co-founded the Women&#8217;s Utilities Network (WUN), a not-for-profit which supports women working in the utilities industries to connect, develop and encourage one another.
Watch the video below to hear Jo’s thoughts on how the energy industry can become more diverse, equitable, and inclusive and her tips for other women looking to break the ‘glass ceiling’ in industries which have been traditionally dominated by men.

International Women's Day 2023

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We hear from Jo about her career in the energy industry, how she thinks it can improve and prioritise diversity and her advice for others looking to progress in traditionally male dominated sectors.

Be brave, be authentic, be prepared to move: Our chair, Jo Butlin, shares her thoughts on leadership for International Women's Day

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One of the main ways Thrive goes beyond is by reducing harmful carbon dioxide emissions, ultimately tackling the climate crisis. In fact, since we began with our mission in 1994, our projects have generated over two million MWh of clean electricity. That’s enough to power over 508,000 average UK homes for a year &#8211; delivering carbon emissions reductions equivalent to 917,517 tCO2e.
Below we hear from some of our newest team members to find out about what they love about the environment, why other businesses need to prioritise impact and what working for a B Corp means to them.
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We’re proud of being a B Corp, having spent close to 30 years working to build a fairer, cleaner future. As we kick off B Corp month, some of our latest recruits share what it’s like working for a company that puts people and planet first.

Thrive's newest team members share the reasons why #wegobeyond for B Corp month

The prize will be delivered in the form of resources, expertise, and scale to help Riding Sunbeams to develop, prototype and implement its ideas, with the business developing bespoke technology that connects solar energy to AC overhead electrified routes.
With research finding that solar traction power could provide at least one tenth of the energy needed to power trains on the UK’s electrified routes every year, the team will also be looking at how it can continue unlocking the route to market for community owned solar farms which have planning permission but not the long-term price certainty they need to secure funding for construction.
After extensive feasibility work and research, Riding Sunbeams completed its first successful pilot project in 2019. Honing the technology with Network Rail, the company connected over 100 solar PV panels to the railway at its demonstrator site, outside Aldershot station in the UK, which are still in operation today.
The trial was instrumental in proving that solar PV can feed power directly into DC third rail electric traction network. Network Rail has now launched a new tender to explore further opportunities for the direct supply of renewable power to its infrastructure across the UK.
You can listen to Leo Murray, Riding Sunbeams’ Innovation Director, discuss the awards and the company’s mission to power the railways with unsubsidised, direct-wire renewable generation as part of the <a href="https://www.standard.co.uk/comment/all-aboard-london-solar-powered-tube-b1062733.html" target="_blank" rel="noopener">Evening Standard’s Leader podcast series here.</a>

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Solar Power Railway Launch

The solar to rail pioneer, which Thrive is invested in, is now focusing on its next stage of growth as it works to decarbonise the UK railway.

Riding Sunbeams receives $75,000 of Cisco support following first Fast Future Innovation Awards

Among the stand-out statistics, the report found that there are almost 20,000 businesses that are contributing £71 billion – or 3.7% &#8211; in Gross Value Added (GVA) to the UK economy at the same time as providing 840,000 jobs. The report further highlights the rewards of decarbonisation, suggesting that environmentally sustainable economic growth, for example the development and scaling of renewable energy, is also beneficial in distributing economic activity across the UK.
Highlights also included:
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<li>From 16 sub-sectors, the renewable energy planning database has the largest composition with around 320,000 employees and 7,500 businesses. This forms almost 40% of businesses.</li>
<li>The energy sector also had the highest contribution of GVA to the UK economy, accounting for 16% of the total £71 billion GVA contribution.</li>
<li>In 2021, venture funding into the net zero economy reached £710 million. This was over 10 times higher than venture investment into the oil and gas sub-industry, which saw a total of £49 million in venture investment.</li>
<li>The net zero economy is highly connected to the wider UK supply chain, leading to a multiplier effect across the economy as goods and services are purchased from other industries. This supply chain contribution represents £29.5 billion in GVA, contributing 1.5% to the UK economy.</li>
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We were particularly pleased to see that the West of England was identified as one of the top 20 net zero economic hotspots, which includes our home city of Bristol. Thrive was featured as one of the net zero economy businesses operating in a range of sectors and specialisms, from energy generation to education.

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As part of a new report, the West of England has been identified as a net zero economic hotspot, with Thrive featured as business case study.

Mapping the net zero economy with the CBI and Energy & Climate Intelligence Unit

Protecting the environment is in our DNA – we were set up in 1994 in response to worsening climate change (unfortunately now the climate emergency) which is why, alongside funding and building renewable projects, we do everything we can to minimise our impact as a business.
As well as being a B Corp, we have implemented several initiatives that support staff in making planet-friendly choices. This includes supporting <a href="https://www.climateperks.com/" target="_blank" rel="noopener">Climate Perks</a> – a scheme that incentivises low-carbon travel through paid ‘journey days’. It essentially means that, if we choose to travel via train, coach or ferry instead of flying, we are entitled to additional holiday. Louise Daniels, Head of Communications &amp; Marketing at Thrive, shares her latest experience with Climate Perks, explaining why she chose to jump on the Eurostar instead of building up air miles.
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<a href="https://www.climateperks.com/latest/guest-post-louise-daniels" target="_blank" rel="noopener">Read her blog here</a>

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Compared to other sustainable behaviours, flying less is one of the most powerful actions we can take to cut carbon. Come with us on a journey to the French Alps using the Climate Perks scheme.

A hop, skip and a train away - Embracing low carbon holiday travel with Climate Perks

Half year operating profits including investments were £7.4 million on a turnover of £14.6 million, with shareholders receiving a final dividend of 12p per share for 2023, which was paid in July this year. Please note, past performance is not a reliable indicator of future performance.
The increase in turnover is the result of raised electricity prices and the addition of the Feeder Road battery to our portfolio, which has now been operational since December 2023.

<img loading="lazy" decoding="async" class="aligncenter wp-image-7434 size-large" src="/wp-content/uploads/2024/10/Updated_ThriveHalfYear_Infographics_2024-13-683x1024.png" alt="" width="683" height="1024" srcset="https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2024/10/Updated_ThriveHalfYear_Infographics_2024-13-683x1024.png 683w, https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2024/10/Updated_ThriveHalfYear_Infographics_2024-13-200x300.png 200w, https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2024/10/Updated_ThriveHalfYear_Infographics_2024-13-768x1152.png 768w, https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2024/10/Updated_ThriveHalfYear_Infographics_2024-13-1024x1536.png 1024w, https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2024/10/Updated_ThriveHalfYear_Infographics_2024-13-1366x2048.png 1366w" sizes="auto, (max-width: 683px) 100vw, 683px" />
Funding our growth ambitions
We were pleased to announce a new joint venture with TopCashback Sustainability Ltd that will unlock up to £40 million in additional capital. Deployed collaboratively alongside Thrive’s own capital over four years, this partnership will help us contribute to the next phase of the UK’s transition and supports our own ambitious growth strategy. We are  finalising debt arrangements which will inject a further £17 million of funding into the business and, to help us with our goal of doubling our generation capacity within the next five years, we’re also looking to raise capital in early 2025.
The Thrive PLC bond was repaid in March as planned after the conclusion of its seven-year term. The bond offer, which was the first to be available as an Innovative Finance ISA (IFISA), helped fund new projects including a milestone community wind project in Cumbria in 2017.
New diverse projects
<img loading="lazy" decoding="async" class="aligncenter wp-image-7435 size-large" src="/wp-content/uploads/2024/10/Updated_ThriveHalfYear_Infographics_2024-14-683x1024.png" alt="" width="683" height="1024" srcset="https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2024/10/Updated_ThriveHalfYear_Infographics_2024-14-683x1024.png 683w, https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2024/10/Updated_ThriveHalfYear_Infographics_2024-14-200x300.png 200w, https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2024/10/Updated_ThriveHalfYear_Infographics_2024-14-768x1152.png 768w, https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2024/10/Updated_ThriveHalfYear_Infographics_2024-14-1024x1536.png 1024w, https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2024/10/Updated_ThriveHalfYear_Infographics_2024-14-1366x2048.png 1366w" sizes="auto, (max-width: 683px) 100vw, 683px" />
We continue to deploy capital into projects that are consistent with our long-term growth strategy, focusing on further diversifying the pipeline so that we can grow our impact and resilience.
So far this year, we have secured a 25-year life extension of our 1MW Beochlich hydro project in the Scottish Highlands and had planning consent granted for an extension of our Drumduff wind farm, which we co-own with local partner GreenPower. The extension will add three turbines with an expected generation capacity of 12-15MW, bringing the overall Drumduff wind farm to six turbines and potentially tripling the combined onsite generation capacity.
We made a £1 million investment in two community owned wind turbines in Gloucestershire and are providing Eden Sustainable with up to £75 million in funding to accelerate the roll out of private wire solar PPA projects for schools, businesses, and other organisations across the UK.
Good progress has been made with construction of the ATTIX CIC wind turbine in Kilbirnie, as well as two ground mount solar projects as part of our partnership with Ethical Power. With generation expected to start in early 2025, significant progress has also been made at the UK’s first deep geothermal production plant in Cornwall, with the turbine that will convert geothermal heat into renewable electricity now successfully installed.
Supporting communities 
The final projects from round seven of our voluntary Community Benefit Programme, which provides energy efficiency grants to important shared buildings close to our sites, have now been completed. Nominations for round eight have just closed, with £30,000 in grants to be allocated for local energy saving initiatives across the UK.
We’ve also supported a number of community focused initiatives, including the Centre for Sustainable Energy (CSE)’s Green Match Fund, which aims to provide more communities with the tools and resources they need to create sustainable, resilient places to live – from improving the energy efficiency of houses and community buildings to preserving natural spaces and setting up social enterprises for community energy. Thrive pledged £5,000 match funding to the appeal, with the final total standing at over £16,000.
It has been great to meet more of our communities in the first half of the year, recently arranging for a local nursery school to visit our Feeder Road battery project in Bristol. The event gave them an opportunity to learn about renewable energy, as well as take part in some themed arts and crafts and nature spotting.
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<img loading="lazy" decoding="async" class="aligncenter wp-image-7162 size-large" src="/wp-content/uploads/2024/07/4-1024x694.jpg" alt="" width="1024" height="694" />

New funding secured and good progress on wind, solar and hydro assets

Half year results 2024: 10% increase in generation and strong operating profits

Abergorki was one of 21 onshore wind projects to secure a Contract for Difference in Auction Round 6 (AR6) of the UK Government’s main mechanism for providing price stability to low carbon electricity generation.  
The site lies on Mynydd Maerdy, above the Rhondda Valleys, and is located within an area of significant wind farm development with both operational and consented wind farms in close proximity.

The Abergorki wind project was originally owned by developer, REG Power Management (RPM), and was granted planning permission by the local council in July 2015.

*Based on an annual generation of 40GWh 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 href="https://www.renewableuk.com/page/UKWEDExplained">https://www.renewableuk.com/page/UKWEDExplained</a>

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Thrive team member close to proposed Abergorki wind farm site in South Wales

Thrive has acquired the rights to build Abergorki wind farm in Rhondda Cynon Taf, South Wales.  

We’re coming back to Wales! Thrive has acquired the development rights to CfD-backed Abergorki wind farm

Thrive will be running a minibus shuttle service to the wind farm from the Victoria Institute. Before catching the bus, you can tuck into some tasty refreshments while getting to know the history of the site. Plus, you’ll be helping us celebrate 30 years of both Caton Moor wind farm and Thrive Renewables who own and operate it!  
Entry is by ticket only and places are limited; please visit the Eventbrite page to book your spot: <a href="https://www.eventbrite.co.uk/e/caton-moor-wind-farm-free-community-open-day-tickets-1006715562347?aff=oddtdtcreator">Caton Moor wind farm free community open day Tickets, Sat, Sep 21, 2024 at 10:00 AM | Eventbrite</a>

Since 2015, Thrive’s voluntary Community Benefit Programme has awarded five energy efficiency grants to community centres in the area helping them cut bills plus increase warmth and comfort for people who use the spaces. The Victoria Institute is one of its grantees, using grants awarded in 2016 and 2018 to improve insulation and upgrade its boilers. Other grantees nearby include the Halton Community Centre, who used the funding to install energy efficient lighting and taps, as well as upgrading their solar PV and solar thermal system.

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Enjoy a fun-packed day of activities for all the family at our Caton Moor wind farm near Lancaster – including the chance to get up close to an operational wind turbine! 

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