<p>Cookies are small text files that are placed on your device by websites that you visit. If you click accept, we will use cookies that track your activity across other websites, help improve your browsing experience and serve you personalised content.</p>
<p>If you click decline, we will only use essential cookies that are required for our website to work properly. For more information or to change your preferences, please read our Cookie policy <a href="/cookie-policy/">cookie policy</a>.</p>


Find out more

Link

Investors

Dev Links

Buy and sell shares

Shareholders

Bonds

Overview

2023 annual report

Projects

Quick Links

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.

Operational

Under construction

2024 half year report

Impact

As one of the UK’s highest scoring B Corps, we are committed to using our business as a force for good.

Our approach

Community support

30 years Thriving

Project funding

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

Funding for

Case studies

About

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

About us

Governance

View all

News

Find out more about our new projects, events and industry insight. 

News 

Useful Documents

News and insight

<p><strong>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>.</strong></p>


<p>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>.</p>


Newsletter - thank you

Be part of the clean energy movement

<p>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>.</p>


kessingland-2

kessingland

Latest news

<p>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.</p>
<p>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.</p>
<p>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.</p>
<p>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.</p>


ace_june_2024-6

ACE_June_2024-6

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

<p>The icing on the cake? We are proud to have won the Finance &amp; Innovation award alongside Ambition Community Energy (ACE) and Bristol &amp; Bath Regional Capital for our work in funding what will be England’s largest onshore wind turbine.</p>
<p>In April 2022, we provided a £4 million loan to ACE so that it could get the 4.2 MW wind project into construction after various challenges. Our innovative funding model was key to ensuring the project went ahead and we’re proud to have played a part in what will be a record-breaking project, serving the Lawrence Weston community in our home city of Bristol.</p>
<p>Once commissioned, the 115-metre diameter, 150-metre tip height turbine will be capable of generating enough power for close to 3,000 homes – the equivalent to Lawrence Weston’s domestic use – and will save almost 120,000 tonnes of carbon emissions over its lifetime.</p>
<p>It will also provide a new revenue stream for the local community in Lawrence Weston, with all profits from electricity sales being reinvested back into the area and acting as a driver for regeneration.</p>
<p><img decoding="async" src="/media/2879/cee-2023.jpg" alt="" data-udi="umb://media/f34df49189124150b0e1a9259bca58b4" /></p>


Newsletter CTA

financeandinnovationaward-winner

FINANCEANDINNOVATIONAWARD-WINNER

We were thrilled to take home the Finance & Innovation Award for our work with Ambition Community Energy to build England’s largest onshore wind turbine.

We won gold for finance and innovation at the Community Energy Awards

<p>Tucked away in the hills behind Blackridge in Scotland, the reserve is located near our Drumduff wind farm, which we co-own and operate alongside GreenPower. In 2022, Drumduff helped to fund the construction of 170 metres of boardwalk, with an official opening held in March 2022. Now we’re supporting the second phase of the extension, which will add a further 250 metres of boardwalk and will be completed in March 2023.</p>
<p>Blawhorn Moss is a rare survivor of the raised and blanket bogs that once covered much of central Scotland, with over 8,000 years of history locked into its peat layers. Carnivorous sundews, dragonflies and damselflies, heath spotted orchids and curlews, are just some of the plants, animals and birds that call this home.</p>
<p>As well as the educational benefit, the nature reserve plays an important role in reducing carbon emissions. This is because each raised bog contains 1,000 years’ worth of accumulated plant material that can’t rot down – also known as peat. Peat contains a considerable amount of carbon and so, to prevent it being released into the atmosphere, the reserve must be kept waterlogged.</p>


<div class="cms rte js-cms-done">
<p>Drumduff wind farm is made up of three turbines and built on an old, disused open cast coal mine to the north of Blackridge in West Lothian, Scotland. At 6 MW, it has the capacity to generate enough renewable electricity to meet the annual demand of over 5,000 homes.</p>
</div>
<div class="cms media js-cms-done">
<figure class=""><picture><source srcset="/media/2876/untitled-design-2023-01-19t112205924.jpg?width=468&amp;mode=none&amp;scale=downscaleonly&amp;quality=80" media="(min-width: 1080px)" /><source srcset="/media/2876/untitled-design-2023-01-19t112205924.jpg?width=410&amp;mode=none&amp;scale=downscaleonly&amp;quality=80" media="(min-width: 620px)" /><img decoding="async" src="https://www.thriverenewables.co.uk/media/2876/untitled-design-2023-01-19t112205924.jpg?width=620&amp;mode=none&amp;scale=downscaleonly&amp;quality=80" alt="" /></picture></figure>
<p>We aim to support the communities living close to our sites in a variety of ways, which includes improving the energy efficiency of important community buildings through our <a href="/our-impact/community-benefit-programme/">Community Benefit Programme</a>. Administered by the Centre for Sustainable Energy (CSE), we have made grants of up to £4,000 available to shared buildings so that they can make important sustainability improvements such as draught proofing and insulation. This year, we are also supporting CSE’s ‘Share the Warmth’ appeal, which is giving vital support to those facing fuel poverty. You can read more <a href="/latest-news/news/we-re-backing-cse-s-share-the-warmth-appeal-to-help-people-struggling-with-energy-bills/">here</a>.</p>
</div>


Our Drumduff wind farm is helping fund the construction of more boardwalks, giving people the opportunity to discover an oasis of open windswept moors.

Unlocking over 8,000 years of Scottish history at Blawhorn Moss National Nature Reserve

<div class="m-grid__row m-grid__row-- clearfix">
<div class="m-grid__col clearfix m-grid__col--12--tablet">
<div class="cms rte js-cms-done">
<p>Despite the global energy crisis, it’s important that we acknowledge the things that have improved this year – and there have definitely been some encouraging signs of progress. In fact, a recent report by the <a href="https://www.iea.org/news/renewable-power-s-growth-is-being-turbocharged-as-countries-seek-to-strengthen-energy-security">International Energy Agency</a> (IEA) has found that the energy crisis has triggered unprecedented momentum for renewables, with the world set to add as much renewable power in the next five years as it has in the past 20.</p>
<p>Thrive has certainly made significant headway in 2022. As well as starting construction on our largest battery project to date – a 20MW site in our hometown of Bristol, we provided a £4 million loan to Ambition Community Energy so that they could build England’s largest, 100% community-owned onshore wind turbine. Helping to ensure the benefits of renewable energy stay local, the turbine will generate enough clean electricity to cover the community’s domestic energy use and any profits from electricity sales will be fed back into local causes. We also funded the installation of a number of rooftop solar arrays through our work with Olympus Power, helping more UK businesses to reduce their emissions and play their part in the acceleration of net zero. To top it off, we successfully crowdfunded £6.8 million, which will help us deliver more onshore wind, rooftop solar and battery storage projects in the months to come.</p>
<p>As we start a new year, we’ve put together our renewables ‘wish list’ for 2023, outlining what we would like to see prioritised as we work towards a low-carbon future here in the UK.</p>
<p>&nbsp;</p>
<p><img decoding="async" src="https://www.thriverenewables.co.uk/media/2860/untitled-design-2023-01-03t132740767.jpg?width=620&amp;mode=none&amp;scale=downscaleonly&amp;quality=80" alt="" /></p>
<h3></h3>
<h3><strong>1. Growing the UK&#8217;s energy independence</strong></h3>
</div>
</div>
</div>
<div class="m-grid__row m-grid__row-- clearfix">
<div class="m-grid__col clearfix m-grid__col--7--tablet">
<div class="cms rte js-cms-done">
<p>Millions of households have been impacted by soaring energy prices, with data from the <a href="https://www.current-news.co.uk/news/wholesale-gas-crisis-to-add-4-400-to-household-energy-bills-by-2024">Energy and Climate Intelligence Unit (ECIU)</a> finding that the wholesale gas crisis will have added £4,400 to the average UK household’s energy bill by 2024.</p>
<p>Highlighting how dependent the UK has been on imported gas, the country is now increasingly having to rely on liquified natural gas (LNG) as a way to replace Russian supply. The problem with this is the additional processing of <a href="https://ceenergynews.com/voices/how-to-evaluate-pipeline-gas-versus-lng/" target="_blank" rel="noopener">LNG is even more greenhouse gas intensive than pipeline gas</a>, generating between 61% and 176% more greenhouse gas emissions. So, this short-term fix to satisfy gas demand will have major consequences for the environment.</p>
<p>As if we didn’t know it already, the energy crisis has further demonstrated our need for clean, homegrown power. Technologies such as onshore wind and solar are quick to deploy and can be delivering cost savings to consumers within a year. We want to see the government facilitating the deployment of technologies that build the way to a smarter, cleaner and more secure energy market in the UK.</p>
<p>&nbsp;</p>
</div>
</div>
</div>
<div class="m-grid__row m-grid__row-- clearfix">
<div class="m-grid__col clearfix m-grid__col--5--tablet">
<div class="cms media js-cms-done">
<figure class=""><picture><img decoding="async" src="https://www.thriverenewables.co.uk/media/2863/untitled-design-2023-01-03t132536683.jpg?width=620&amp;mode=none&amp;scale=downscaleonly&amp;quality=80" alt="" /></picture></figure>
</div>
</div>
<div class="m-grid__col clearfix m-grid__col--7--tablet">
<div class="cms rte js-cms-done">
<h3></h3>
<h3><strong>2. Greater clarity and a level playing field for onshore wind</strong></h3>
<p>As you may have read in <a href="/latest-news/blog/it-s-time-to-unleash-the-power-of-onshore-wind-in-england/" target="_blank" rel="noopener">our last blog</a>, onshore wind is back on the agenda – with the government recently announcing a consultation on removing the de facto ban put in place in 2015. Expected to conclude in April 2023, the government will be looking to remove the additional planning hurdles for the development of new onshore wind farms in places with local support.</p>
<p>What we really need to know is: what constitutes community support and how will it need to be evidenced? Until this happens, ready-to-go projects will remain stuck in the planning process and this seems crazy in the face of a country-wide energy crisis, especially as onshore wind is one of the cheapest and quickest technologies to deploy. What we’d really like to see is a level playing field for onshore wind and a return to planning policy that puts onshore wind ‘in line with other infrastructure projects’. The current planning regime already takes into account local support, ecology and land use for any project.</p>
<p>&nbsp;</p>
</div>
</div>
</div>
<div class="m-grid__row m-grid__row-- clearfix">
<div class="m-grid__col clearfix m-grid__col--5--tablet">
<div class="cms media js-cms-done">
<figure class=""><picture><img decoding="async" src="https://www.thriverenewables.co.uk/media/2862/untitled-design-2023-01-03t132623847.jpg?width=620&amp;mode=none&amp;scale=downscaleonly&amp;quality=80" alt="" /></picture></figure>
</div>
</div>
<div class="m-grid__col clearfix m-grid__col--7--tablet">
<div class="cms rte js-cms-done">
<h3></h3>
<h3><strong>3. Moving forwards on market reform so people can benefit from low-cost renewables</strong></h3>
<p>Earlier this year, the government announced a review into the UK’s electricity system (REMA), looking at how, amongst other things, we could decouple the wholesale electricity market price from fossil fuels. As the review progresses, we want to see acknowledgement of the benefits of moving from a marginal price model to a price of capacity model. This would give consumers greater transparency around the cost savings associated with renewables, in turn helping to bolster support, drive investment and accelerate the transition.</p>
<p>If done correctly, we believe that reform of the current structure will be a positive move and will support the UK’s acceleration towards a clean energy system. However, it’s important that the government works together with investors and developers when it comes to next steps.</p>
<p>&nbsp;</p>
</div>
</div>
</div>
<div class="m-grid__row m-grid__row-- clearfix">
<div class="m-grid__col clearfix m-grid__col--5--tablet">
<div class="cms media js-cms-done">
<figure class=""><picture><img decoding="async" src="https://www.thriverenewables.co.uk/media/2864/untitled-design-2023-01-03t132437670.jpg?width=620&amp;mode=none&amp;scale=downscaleonly&amp;quality=80" alt="" /></picture></figure>
</div>
</div>
<div class="m-grid__col clearfix m-grid__col--7--tablet">
<div class="cms rte js-cms-done">
<h3></h3>
<h3><strong>4. Making the most of the space we have available</strong></h3>
<p>At the COP26 conference in Glasgow, the government pledged to decarbonise the electricity system by 2035. To ensure that the UK’s electricity is predominantly generated by renewables and other low-carbon technologies by 2035, we need to make the most of the areas we have available for development. This means utilising things like rooftops and other commercial spaces such as car parks.</p>
<p>Direct wire or on-site renewables are a great way to support businesses in reducing their carbon emissions, with the clean electricity helping to power their operations and any surplus being exported to the grid. <a href="https://www.cpre.org.uk/news/unleash-rooftop-solar-to-tackle-energy-crisis-we-urge-chancellor/">Analysis from CPRE</a>, the countryside charity, has found that if only a quarter of the UK’s total 250,000 hectares of south-facing commercial roof space was useable, it could generate 25GW of electricity annually. This is supported by <a href="https://www.solarpowerportal.co.uk/news/using_5_of_uk_commercial_rooftop_space_for_solar_could_save_12.6_billion_an">data from PowerMarket</a> which also revealed that, if the UK used just 5% of the available commercial rooftop space for solar, it could lead to an estimated £12.6 billion per year in energy cost savings.</p>
<p>&nbsp;</p>
</div>
</div>
</div>
<div class="m-grid__row m-grid__row-- clearfix">
<div class="m-grid__col clearfix m-grid__col--5--tablet">
<div class="cms media js-cms-done">
<figure class=""><picture><img decoding="async" src="https://www.thriverenewables.co.uk/media/2861/untitled-design-2023-01-03t132703302.jpg?width=620&amp;mode=none&amp;scale=downscaleonly&amp;quality=80" alt="" /></picture></figure>
</div>
</div>
<div class="m-grid__col clearfix m-grid__col--7--tablet">
<div class="cms rte js-cms-done">
<h3></h3>
<h3><strong>5. Bridging the renewables skills gap</strong></h3>
<p>According to <a href="https://www.pwc.co.uk/who-we-are/our-purpose/building-trust-in-the-climate-transition/supporting-a-fair-transition/green-jobs-barometer.html">PwC’s annual green jobs barometer</a>, the number of jobs being created in the renewable energy industry is growing four times faster than the overall UK employment market.</p>
<p>But, while it’s great to see the number of green jobs growing, it’s still felt that there is a lack of quality applicants to fill them. We think it’s important for the government to support green careers as part of the national curriculum, but we’d also like to see more support going towards conversion courses and upskilling so that the talented individuals working within the oil and gas sector – for example – feel empowered to make the transition into renewables.</p>
<p>Yes, nurturing talent from a young age is important but we shouldn’t miss out on the huge number of skilled workers who, with some further training, would be ready to help the industry grow at the scale required.</p>
</div>
</div>
</div>


58-copy

58 - Copy

As we turn the page on what’s been a challenging year for everyone, we share some of our successes and hopes for the clean energy sector in 2023.

We're dreaming of a.... low carbon future! Here's what's on our New Year's wish list

<p>According to the government’s <a href="https://www.gov.uk/government/publications/renewable-energy-planning-database-monthly-extract">renewable energy planning database</a>, 1,852 MW of onshore wind was submitted for planning in the UK this year – with only 10.25 MW of this proposed for England. Clearly, outdated planning policy is stopping the development of new onshore wind farms that could accelerate net zero, build our energy security and lower bills for households across the country.</p>
<p>While it’s positive to see the topic of onshore wind back on the agenda, it’s still unclear what the proposed consultation really means for the development of new projects. Below we unpack the available detail and why we think backing onshore wind is one of the best solutions to the energy crisis.</p>
<h3><strong>What&#8217;s been happening with onshore wind up until now?</strong></h3>
<p>In addition to removing all financial support for onshore renewables, in 2015 the Government placed a de facto ban on new onshore wind development in England through changes to its National Planning Policy Framework (NPPF). It meant that developers could only build on land that was specifically identified for onshore wind in the council’s local plan. As plans are revisited every 20 years, many local plans do not acknowledge renewable energy let alone have land allocated for the development of new renewable projects. This means that over the seven years since 2015 only five new projects with a capacity of 24MW have made it through the planning process and been successfully constructed in England.</p>
<p>In contrast, there is strong support for onshore wind by members of the public. The Government’s <a href="https://www.gov.uk/government/collections/public-attitudes-tracking-survey">latest survey of public attitudes</a> towards renewables and tackling climate change shows that 88% of people support using renewable energy, with 79% of people supporting onshore wind and only 4% opposing it.</p>
<p>The issues surrounding onshore wind development were raised once again in Kwasi Kwarteng’s mini budget in October. It was suggested that the government planned to move planning regulation for onshore wind ‘in line with other infrastructure projects’ – something that we have been calling for since 2015. Following Kwasi’s resignation, however, the new chancellor Jeremy Hunt reversed almost all the proposals made by his predecessor and it was left unclear what would happen with onshore wind.</p>
<h3><strong>What does the new consultation mean?</strong></h3>
<p>The government recently confirmed a consultation into onshore wind in England, looking at how it can ensure that new onshore wind projects are built in areas where there is local support. This comes after a group of Conservative MPs showed significant support for an amendment to the Levelling Up and Regeneration bill that would have removed the block.</p>
<p>While the consultation is a positive step, this does not mean that the ban will be lifted completely and there’s still a lack of clarity about what ‘local support’ means and how it will need to be demonstrated. The current proposals state that ‘planning permission would be dependent on a project being able to demonstrate local support and satisfactorily address any impacts identified by the local community’. It also adds that ‘Local authorities would have to demonstrate their support for certain areas as being suitable for onshore wind, moving away from rigid requirements for sites to be designated in local plans’. According to the government’s website, the technical consultation on changes to the NPPF will be launched by Christmas and concluded by the end of April 2023.</p>
<h3><strong>We want to see a level playing field</strong></h3>
<p>We believe to put the UK in the strongest position possible, the government should still be looking to align the planning policy for onshore wind with other infrastructure projects; with the ‘standard’ planning process taking into consideration the local community, ecology and land use. Doing so could be a milestone for the responsible development of further onshore renewables and we already know that this would bring significant economic benefits.</p>
<p>In fact, <a href="https://cdn.ymaws.com/www.renewableuk.com/resource/resmgr/media/onshore_wind_prospectus_fina.pdf" target="_blank" rel="noopener">RUK’s onshore wind prospectus</a> concluded that, if we double onshore wind capacity to 30GW by 2030, it would reduce consumer bills by £16.3 billion over the course of the decade, generate £45 billion of economic activity and create 27,000 full-time jobs in the UK’s onshore wind industry. Quite simply, the longer we stall on new onshore wind development in England, the more money households lose and the further away we get from net zero.</p>


thrive-renewables-open-day-in-avonmouth-september-2022-20

Thrive renewables open day in Avonmouth. September 2022.

As the government confirms that it will consult on lifting the de facto ban on onshore wind in England, we share our thoughts on why this technology has a key role to play in tackling the climate emergency and ongoing energy crisis.

It's time to unleash the power of onshore wind in England

<h3><strong>What&#8217;s changed?</strong></h3>
<p>As part of the statement, Mr Hunt introduced the ‘Electricity Generator Levy’, a temporary 45% tax that will be levied on revenues to capture the ‘extraordinary returns from low-carbon UK electricity generation’, starting in January 2023 and remaining in place for the next five years.</p>
<p>While the full details of the levy and how it will apply is still emerging, we are not concerned about Thrive’s ability to continue funding, building and operating clean energy projects. We can, however, see how it will frustrate growth across the renewables sector, especially when renewable energy generators are paying disproportionately more than all other types of electricity generation and oil and gas companies.</p>
<p>With many households feeling the effects of rising wholesale gas prices – a result, in the most part, of Russia’s invasion of Ukraine and the subsequent reduction of gas supplies to Europe – oil and gas companies have been subject to a windfall tax since May. This means that they have had to pay an additional 25% tax on their profits but including an 80% investment allowance. The government has now increased this to 35% and an investment allowance remains.</p>
<h3><strong>What does this mean for development?</strong></h3>
<p>As a business that funds, builds and operates renewable energy projects across the UK, we’re happy to part of a collective effort to alleviate the pressure for households that are struggling to pay their bills.</p>
<p>However, we are concerned that the government’s approach will incentivise investment in fossil fuels – something that is not compatible with achieving net zero, or tackling the climate emergency, especially when our reliance on fossil fuels is what has caused this energy crisis in the first place. It’s frustrating to see that the renewables sector is being asked to pay a 45% levy on revenue, with no incentive for investment, while oil and gas businesses are having to pay an additional 35% tax on profit, with a 29% investment allowance. This means renewables will effectively be subsidising fossil fuels, which feels like an own goal on the journey to net zero.</p>
<p>While we recognise that we must work together to support with energy bills in the short-term, we need to re-think how the UK’s electricity market is structured if we’re to avoid price shocks in future. This would mean moving to a capacity-priced system rather than the marginal-priced system that we have in place today. In doing so, we believe the impact of the current gas price crisis would be materially reduced and consumers could directly benefit from the lower prices that renewables bring. This would also perhaps increase public backing and further accelerate the transition to a renewables based grid.</p>
<h3><strong>It&#8217;s not all bad news</strong></h3>
<p>With energy bills now doubling for many households, the government has renewed its focus on building the UK’s energy security, which will supposedly be delivered through major investment in clean technologies – notably offshore wind, carbon capture and storage – and greater energy efficiency.</p>
<p>From what we can see, smaller developers and in particular community energy groups will be exempt from the levy due to their size. This means that we can continue providing these organisations with the funding, speed, certainty, and skills to get new renewable projects built. It’s critical that communities are put at the heart of the clean energy transition, so we’re keen to support as many communities as possible in taking ownership of their energy supply in a way that keeps profits and green opportunities local.</p>


thrive-renewables-open-day-in-avonmouth-september-2022-8

But we must prioritise fixing our broken electricity market if consumers are going to be able to benefit from lower cost, clean energy.

Autumn Statement: We welcome the opportunity to help UK households with their energy bills

<p>The same report found that if we redirected the annual $570 billion spent on ramping up fossil fuel production worldwide, we could more than compensate for the $450bn shortfall in solar and wind investment required to meet global climate goals.</p>
<p>With gas prices soaring and consumers struggling to pay their bills, there is no doubt that COP is more relevant than ever this year. The huge economic problems countries are currently experiencing are driven by their reliance on expensive imported fossil fuels. Sustainable economic recovery and managing climate change are two sides of the same coin.</p>
<p>Ahead of COP, the Department for Business, Energy and Industrial Strategy (BEIS) commissioned an independent review of the government’s approach to delivering net zero, with a focus on ensuring it’s done in a way that is ‘pro-business’ and ‘pro-growth’. We believe that delivering net zero is inherently pro-business and pro-growth, as the UK takes this opportunity to create a better, fairer world based on abundant natural resources.</p>
<p>As a business that is actively funding and building clean energy projects in the UK, it’s important that we’re part of these conversations and that the government understands how it can support investment across the renewables mix moving forwards. Below, we highlight the key areas which we believe will accelerate net zero, lower bills and create new green jobs.</p>
<h2><strong>What we want from the net zero review</strong></h2>
<h3><strong>1. Sustainable growth is born from net zero</strong></h3>
<p>We want the government to acknowledge the economic benefits that come from our transition to a renewables-based energy system.</p>
<p>Net zero provides a massive opportunity for the UK to have a positive impact for all via energy cost savings and investment in long-term, clean energy infrastructure. It will create not just new jobs but new green career paths, as well as the homegrown energy sources the country so badly needs for both energy security and economic prosperity. It also has the potential to create a new industry as the UK can export its net zero services, products, and investment overseas.</p>
<p>Our offshore wind industry leads the world and is therefore presenting opportunities for other UK businesses to get involved with the supply chain. Onshore wind and solar, carefully sited and embedded in communities, have the potential to do the same.</p>
<p>The UK’s legally binding net zero targets present an opportunity for us to fulfil our mission to power the transition to a sustainable energy future by helping people meaningfully connect with clean energy projects. We believe these targets are the catalyst the country needs to underpin economic growth, promote energy independence and tackle the energy crisis, which is driven by our reliance on volatile, expensive fossil fuels like gas.</p>
<h3><strong>2. A more favourable approach to onshore wind</strong></h3>
<p>As one of the cheapest and quickest technologies to deploy, we have a ready-to-go solution that is not being fully utilised. An effective ban on onshore wind in England – introduced in 2015 – has led to a significant slowdown in the number of new projects being deployed. Moving forwards, we hope that the additional planning barriers will be reversed so that onshore wind is treated in line with other infrastructure projects when it comes to planning, allowing us to crack on with building projects that deliver savings back to consumers.</p>
<p>Facilitating the repowering of existing onshore wind turbines would also be a material win in terms of unlocking the potential of onshore wind. Repowering has the potential to increase UK generation significantly, as more modern machines can deliver much more electricity per site compared to older models. For example, we repowered our Caton Moor wind farm in 2006, replacing the existing 10 turbines with 8 more advanced machines. With two fewer turbines and only a small increase in the size of each, output from the site was increased seven-fold.</p>
<p>Most renewable generation equipment requires re-powering 20 or 30 years after commissioning. As the UK’s fleet matures, it is crucial to remove uncertainty from the planning process so that we can plan and deliver repowering in a cost-effective way.</p>
<h3><strong>3. Electricity storage can help maintain energy security while also accelerating net zero</strong></h3>
<p>We think the value of storage solutions should be recognised, not only in accelerating net zero, but in the avoided costs of transmission and distribution infrastructure. To reap the rewards of long-term sustainable storage – including aggregated BESS, pumped hydro storage and emerging storage technologies – we need clear, long term price signals that encourage investment and therefore delivery. With greater clarity, we can flatten demand, reduce the amount of capacity, distribution and transmission infrastructure, and therefore ultimately lower the cost of electricity for everyone.</p>
<h3><strong>Post Cop27 and beyond</strong></h3>
<p>It’s great to see the government acknowledging the role renewables have to play, not only in delivering net zero but in lowering energy costs for consumers. While this is positive, the most important thing the government could do to accelerate our transition is to provide a more supportive, stable policy environment. This would allow the renewables sector to make long-term investment decisions with confidence, accelerating and lowering the cost of delivering the fleet of renewables required for a clean, sustainable future.</p>
<p>It is also essential that businesses, communities and individuals are given the tools to become more self-sufficient in energy. This means moving from the old model, where large power stations fed passive consumers, to renewable electricity and heat generation, combined with time of use incentives and improved energy efficiency, that support smart, local grids.</p>
<p>Delivering on net zero by 2050 and ending the energy crisis go hand in hand. Only by building new clean energy and storage projects can we secure a long-term, low cost, reliable electricity supply for the UK. This is, of course, also the route to net zero. What we need from our government is certainty – it’s time for smart, sustainable policies that deliver value as part of a just transition.</p>


thrive_renew_battery_bristol_2022_jim_j_img_2635

thrive_renew_battery_Bristol_2022_JIM_J_IMG_2635

As all eyes turn to Egypt for this year’s COP27 conference, we share our thoughts on net zero and the action the government must take if we’re to reduce our carbon emissions in time for 2050.

Responding to the government's net zero review - It's time for action!

<p>That’s why we’re supporting national energy charity, the Centre for Sustainable Energy (CSE), and its new Share the Warmth appeal – an initiative which will enable its staff to continue offering critical advice and practical and financial support to those struggling to pay their bills and heat their homes this winter.</p>
<p><span class="button"><a class="js-scroll-done" href="https://cafdonate.cafonline.org/21947#!/DonationDetails" target="_blank" rel="noopener" data-anchor="#!/DonationDetails">Click here to donate</a></span></p>
<p>&nbsp;</p>
<p>Every day, CSE’s energy advisors talk to people that are scared and in desperate need of help. They tackle the root causes of fuel poverty – cold homes, low incomes and high energy bills – and support thousands of households each year.</p>
<p>With more and more people calling in, CSE’s telephone advice line is experiencing a four-fold increase in demand. The Share the Warmth appeal will support this vital service and donations will be used where they are needed most to help people in fuel poverty.</p>
<p><a href="https://www.york.ac.uk/news-and-events/news/2022/research/fuel-poverty-uk/">Data from the University of York</a> has found that more than three-quarters of households in the UK, or 53 million people, will have been pushed into fuel poverty by January 2023. People living in the poorest and coldest regions of the UK will be the worst affected along with those who are already most likely to be struggling with the cost of living.</p>


As soaring gas prices cause millions to face fuel poverty, we’re helping CSE to provide a much-needed lifeline to homes up and down the UK.

We're back CSE’s share the warmth appeal to help people struggling with energy bills

<div>
<div class="m-grid m-grid--content--tight m-grid--content">
<div class="m-grid__inner">
<div class="m-grid__row m-grid__row-- clearfix">
<div class="m-grid__col clearfix m-grid__col--12--tablet">
<div class="cms rte js-cms-done">
<p>It’s safe to say that this year’s show felt more pertinent than ever, especially given the number of households struggling with their energy bills as a result of the UK’s dependence on dirty and expensive fossil fuels. After three days of insight sharing and relationship building, we’ve come away feeling optimistic about what can be achieved if we pull together and prioritise the deployment of new, cost-effective renewable projects. Below we share our key takeaways from the show.</p>
<h3><strong>1. Businesses should investigate on-site renewables to accelerate net zero</strong></h3>
<p>Data from the British Business Bank found that smaller businesses account for half of UK business-driven emissions, the same proportion as larger businesses. At the same time, they’re also less likely to have the capital and skills required to make the scale of changes needed for net zero. In her panel session, our investment director Monika shared her thoughts on how the industry can better support businesses when it comes to reducing their carbon emissions.</p>
<p>This includes installing their own renewable energy project – for example a wind turbine or rooftop solar array – on their commercial premises. Also known as a ‘direct wire’ arrangement, it means that the business can directly benefit from the clean electricity it generates.</p>
<p>What are the advantages to this? As we’re seeing currently, both consumers and businesses can be exposed to drastic changes in the supply and demand for fossil fuels. On-site renewables therefore offer a solution to managing energy costs in an increasingly volatile marketplace, giving businesses the opportunity to secure long-term, consistent energy prices which are typically cheaper than connecting to the grid. With this in mind, we expect to see a surge in the number of businesses looking to develop their own renewable projects as a way to tackle soaring bills at the same as improve their environmental footprint.</p>
<h3><strong>2. We need to invest in the green workforce of the future</strong></h3>
<p>A feeling amongst many attendees was that the renewables industry is facing an unprecedented skills shortage, especially when it comes to recruiting young talent. From engineers and installers through to designers and IT technicians, we must prioritise education and create opportunities so that the next generation feel empowered to take their place in the evolving green economy.</p>
<p>At Thrive, we hold annual open days and encourage communities to come along and find out more about renewable energy, how it’s helping lower household bills and why it’s fundamental to meeting the UK’s net zero ambitions. In September, we saw 500 people descend on our wind farm in Bristol and it was great to speak to some budding engineers of the future about how the turbines work and their role in tackling the climate crisis. We also run an internship programme which aims to give university students useful insight into the renewables industry so that they can go on to thrive in   green careers.</p>
<h3><strong>3. Build and resilient and sustainable supply chains</strong></h3>
<p>There was also a lot of discussion about supply chains and the need for sustainable procurement, including a very insightful panel session led by Chris Hewett from Solar Energy UK. Chris talked about the company’s Solar Stewardship Initiative (SSI) which it has recently launched with SolarPower Europe. The initiative is being designed to further develop supply chain transparency and strengthen confidence in how, where, and by whom products and solar components are manufactured.</p>
<p>At Thrive, we pay very close attention to our supply chain and collect information and data to improve our decision making and evaluate our suppliers. The global supply chain for solar panels and batteries is a particular focus for us as we continue diversifying our portfolio. We have been working with suppliers and external experts to identify panel manufacturers who, to the best of our knowledge, are not operating in the areas implicated in modern slavery allegations.</p>
<p>We have also commissioned third party experts to review the provenance of rare earth minerals used in the manufacturing of batteries and the human rights practices in their extraction. Our procurement includes environmental, social and governance criteria upon which tenders are evaluated. By incorporating these ethical and environmental criteria into our procurement processes, we hope that suppliers will see the value in improving their practices.</p>
</div>
</div>
</div>
</div>
</div>
</div>
<aside class="m-share m-share--tight no-print">
<div class="m-share__inner"></div>
</aside>


pxl_20221018_130259109-mp

PXL_20221018_130259109.MP

Read our insights from the UK's largest renewable energy exhibition focusing on solar and storage.

We joined over 10,000 people at Solar & Storage Live – And here's what we learnt

<p>We would like to say a huge thank you to everyone who has taken part in our recent share offer. Because of you, we’ve been able to raise £6.8 million to deliver new renewable energy generation and storage projects across the UK.</p>
<p>The offer, which was promoted by Triodos Bank UK via its crowdfunding platform, has now closed after we reached our original £5 million target ahead of deadline. In September, we extended the offer so that more people had the opportunity to participate, with over 1,200 investments made in total.</p>
<p>Now we’re focusing on action and will be using the funding to fuel our next stage of growth, helping to expand our portfolio of clean electricity projects and creating value across the electricity system as we aim to decarbonise by 2035.</p>
<p>As well as funding new onshore wind and commercial solar projects, we intend to increase our battery storage and baseload capacity and the collaborative funding available for community energy groups to build their own renewable energy projects.</p>


<p>The success of the crowdfund follows new survey data – commissioned by Thrive and undertaken by Opinium – which revealed that retail investors are deeply concerned about the climate and energy crisis and want to take matters into their own hands by investing in renewables.</p>
<p>According to the survey, which gathered data from 1,000 UK retail investors alongside 2,000 people from the general population, seven in 10 investors (69%) think we should increase the amount the UK invests in renewable energy.</p>
<p>When it comes to motivation, 8 in 10 investors (81%) say they are concerned about the long-term implications of the energy crisis, with many (57%) wanting to use their investing power to help bring down energy costs for all. As a result, nearly six in 10 investors (57%) have recently, or plan to, increase their investments in renewables. This attitude is shared by the UK population, with two-thirds (66%) wanting investment in renewables to increase.</p>


<p>Investing in the shares of an unlisted company involves risk – including potential for loss of capital – as the value of shares may go down as well as up. The payment of dividends and the target return on equity are not guaranteed.</p>
<p>Thrive shares are transferable but are not listed on any investment exchange, they can be traded through monthly share auctions. It may be difficult to sell shares at a price investors wish to sell them for and the shares may take time to sell.</p>
<p>If you are unsure if any of these investments are right for you, you should contact an Independent Financial Adviser.</p>


thrive_renew_battery_bristol_2022_jim_j_img_2532

thrive_renew_battery_Bristol_2022_JIM_J_IMG_2532

At a time when the shift to renewables is more urgent than ever, we’ll be using the money raised to build some of our pipeline of onshore wind, commercial rooftop solar and battery assets.

We've raised £6.8 million to fund new clean energy projects in the UK

<p>Through our community benefit programme, we’re pleased to be able to support another ten shared buildings – located within 20 miles of one of our clean energy projects – with grants totalling over £30,000. With support from national energy charity, Centre for Sustainable Energy, up to £4,000 has been awarded to each of these community organisations so that they can make sustainability and energy efficiency improvements ahead of winter, including roof, window and wall insulation, double glazing and LED lighting.</p>
<p>With this latest round included, we have awarded 51 grants to 43 buildings since 2016, totalling over £150,000. These improvements save over 75 tonnes of carbon dioxide each year.</p>
<p>As part of round six, we have awarded grants to:</p>
<ul>
<li>Eastside Community Trust – near our Feeder Road battery project in Bristol</li>
<li>Birsay Community Hall – near our Sigurd wind turbine in Orkney</li>
<li>Shutlanger Hall – near our Wicken battery project outside Milton Keynes</li>
<li>Bridgehouse Community Association – near our wind farm in Drumduff, Scotland</li>
<li>Hawkesbury Hospital Hall – near our Feeder Road battery project in Bristol</li>
<li>Colne Village Hall – near our Ransonmoor wind farm in March, Cambridgeshire</li>
<li>Wrentham Village Hall – near our Ness Point wind turbine in Ipswich</li>
<li>Helmdon Reading Room – near our Wicken battery project outside Milton Keynes</li>
<li>Knowle West Media Centre – near our Feeder Road battery project in Bristol</li>
<li>Strichen Playgroup – near our Clayfords and Auchtygills wind farms in Strichen, Aberdeenshire</li>
</ul>


image-gallery-1

During challenging times, community buildings can offer a warm, safe place for people to come together and socialise. Thrive is offering grants to shared buildings close to our clean energy sites to improve energy efficiency and lower bills.

Helping community buildings become a warm hub this winter

<p>Put on hold due to Covid-19 restrictions, it was brilliant to be able to meet lots of new and engaged faces to our four-turbine site in Avonmouth. Attendees had an opportunity to peep inside one of the 2MW operational turbines on site, as well as enjoy a range of other wind-related activities for the whole family including Explorer Dome’s climate change show, face painting and more. The Centre for Sustainable Energy were also on hand to provide advice on energy efficiency.</p>
<p>Coinciding with the start of Great Big Green Week – a national initiative led by the Climate Coalition to celebrate community action in fighting the climate crisis – we wanted to continue the conversation about climate change and how onshore wind projects are part of the solution. We were thrilled by the enthusiasm shown for the turbines and the number of insightful questions asked – with lots coming from well informed budding engineers of the future!</p>
<p>A massive thank you to everyone that joined us, from our excited guests to the exhibitors who helped make it such a valuable event for the community.</p>
<p>Below are just some of the brilliant moments captured from across the day.</p>


image-carousel-image-1

As part of Great Big Green Week, we invited the wider Bristol community to join us at our Avonmouth wind farm to learn more about onshore wind and its role in tackling the climate emergency.

Meeting budding engineers of the future at our sold out Bristol open day

<p>The project will also see the site’s biodiversity increase by more than 40%, a £40,000 fund for local community-led, sustainable projects created and over £1m spent on services and contracts in the local area.</p>
<p>Thrive has already provided funding to the UK’s first deep geothermal power plant, which is construction at United Downs, near Redruth.</p>
<p>Similarly to United Downs, the second site at Penhallow will be made up of two deep wells. The first will reach approximately 4,500 metres deep and will bring the naturally heated water to the surface, whilst the second well will be around 3,000 metres deep and will be used to return the cooled fluid back under ground after it has been used to produce electricity and heat. Construction works are expected to start next year, with generation estimated to start in 2026 – delivering circa 42,000 MWh of baseload renewable electricity per year, enough to power around 11,000 UK homes and save 700,000 tonnes of carbon dioxide emissions, according to GEL.</p>


ud-10-2

UD 10

Planning for Geothermal Engineering Ltd’s second geothermal power plant in Cornwall has been granted, with works expected to start in 2023.

Investing into the next phase in geothermal electricity production

<p>The joint venture will allow us to build new wind, solar and other renewable assets that clean up the UK energy system, reduce carbon emissions and help tackle the climate crisis. It will also support our ambitious growth plans to double our generation capacity over the next five years.</p>


<p>The partnership will also allow TopCashback Sustainability to continue building its impact investment portfolio. This includes the likes of Highlands Rewilding &#8211; a project aimed at re-wilding and re-peopling the Scottish Highlands by increasing biodiversity, green jobs and more &#8211; and funds deposited with Tribe Impact Capital, a wealth manager which helps TopCashback make impact investments.</p>


thrive-renewables

Thrive Renewables

The £80 million joint venture will fund new renewable projects across the UK including onshore wind and solar.

Thrive joins forces with TopCashback Sustainability to help fund the next phase of the UK energy transition

<p>Below we summarise some of the key energy policies announced following the election and what they could mean for the future of the UK energy system.</p>
<h3><strong>Unlocking onshore wind</strong></h3>
<p>Within days of the election, the Chancellor announced plans for radical planning reform, including fulfilling the promise to lift the de facto ban on new onshore wind farms in England. As one of the cheapest and cleanest ways to produce electricity, it means onshore wind will no longer face unique planning restrictions and instead be treated the same as any other infrastructure projects – something we have been calling for since 2015. In order to scale up onshore wind in line with targets, the government has also announced the creation of an Onshore Wind Industry Taskforce, which will see it work collaboratively with the industry, regulatory and other relevant bodies to help overcome the barrier developers are currently facing.</p>
<p>It’s worth noting that the removal of the ban doesn’t mean new onshore wind farms will be popping up everywhere. New developments will need to undergo the usual planning process and delays with grid connection are still a major challenge. It is, however, a huge stride forward and we see great potential for the repowering of existing sites – replacing turbines that have come to the end of their life with more modern and efficient machines – which could go a long way in meeting the government’s 2030 targets, without increasing the total number of turbines.</p>
<h3><strong>Planning reform</strong></h3>
<p>After announcing plans for radical planning reform that would make building energy infrastructure easier, the government launched a new consultation: &#8216;<a href="https://www.gov.uk/government/consultations/proposed-reforms-to-the-national-planning-policy-framework-and-other-changes-to-the-planning-system/proposed-reforms-to-the-national-planning-policy-framework-and-other-changes-to-the-planning-system#scope-of-consultation">Proposed reforms to the National Planning Policy Framework and other changes to the planning system&#8217;</a>.</p>
<p>Suggested amendments to the existing National Planning Policy Framework (NPPF) include instructing planning officers and local authorities to consider the benefits of renewable projects, as well as an expectation that they will proactively identify potential project sites when developing plans. The aim is that these changes will help establish a much stronger presumption in favour of approving new renewables projects, supporting the UK&#8217;s ambitious net zero goals.</p>
<p>As well as removing the ban on onshore wind, Labour has challenged the previous government&#8217;s decision to add a separate footnote to the NPPF giving more consideration to the availability of agricultural land when making planning decisions on new solar farms.</p>
<h3><strong>Great British Energy </strong></h3>
<p>A key part of Labour’s election manifesto was its plans for Great British Energy (GBE), a publicly owned energy company designed to drive clean energy deployment. GBE will work with and alongside the private sector to develop, own and operate clean energy assets with ambitions to double onshore wind, triple solar power, and quadruple offshore wind by 2030.</p>
<p>While we wait to see how exactly GBE will interact with the industry, we’re hopeful that this renewed focus on working together – alongside communities – is what is needed to decarbonise our energy system.</p>
<h3><strong>Local power plan</strong></h3>
<p>Recognising that local power generation is an essential part of the energy mix, GBE will also help the government to deliver on its Local Power Plan, enabling local authorities and communities to become owners and stakeholders in local clean energy projects.</p>
<p>In GBE’s Founding Statement, it states that ‘through partnering with and providing funding and support to Local and Combined Authorities and Community Energy Groups, the Local Power Plan will roll out small and medium scale renewable energy projects, using established technologies to develop up to 8G W of cheaper, cleaner power. This will include shared ownership projects in partnership with private developers.’</p>
<p>As big supporters of community energy, it’s positive to see legislation that prioritises local people, ensuring they will ‘benefit directly’ from any increase in generation. Thrive will continue working with community energy groups, helping them build and own projects – giving local people a chance to benefit socially and financially from renewables.</p>
<h3><strong>Rooftop solar revolution</strong></h3>
<p>As part of its ambition to triple solar power by 2030, the Government has outlined plans for a rooftop solar “revolution”, introducing measures that will help more homes to be fitted with solar panels to bring down domestic energy bills and tackle the climate crisis.</p>
<p>We recognise the importance of rooftop solar when it comes to decarbonising the UK’s energy system and have already invested just over £3 million in rooftop solar arrays for businesses across the country. Not only does this help them to lower the carbon intensity of their operations but means they can directly benefit from cheaper clean power generated on site. We see this as a key technology as we continue our diversification strategy, investing in a range of renewable assets that will work together.</p>
<h3><strong>Contracts for Difference</strong></h3>
<p>A significant jump in the budget for the next Contracts for Difference (CfD) allocation round has also been announced, increasing from £1 billion to over £1.5 billion.</p>
<p>CfD auctions incentivise investment in energy generation projects which have a high upfront cost, by guaranteeing stable prices over a long period. It’s positive to see the uplift in funding, with £185 million of the total budget allocated to established technologies such as onshore wind and solar, up from £65 million in round five.</p>
<p>We believe that smaller (sub 5MW), localised clean energy projects are also important, which means developers will need to continue seeking additional routes to market. At Thrive, we also work with other business models, such as corporate power purchase agreements or ‘direct wire’ arrangements where solar and wind projects are installed on site, providing the industrial host with a direct supply of clean electricity.</p>
<p>Building on a series of positive announcements from government, we have and will always prioritise action – doing what’s necessary to get new projects built. We’ll also continue working with industry bodies such as RenewableUK to help inform and steer policy so that it ensures people are at the heart of a cleaner, fairer energy system in the UK.</p>


We summarise some of the key energy policies announced following the election and what they could mean for the future of the UK energy system.

Winds of change: What does the Labour government mean for energy?

<p>It is powered by fluid heated by geothermal brine several miles below the Earth’s surface. This rotates the turbine which is connected to a generator that converts kinetic energy into electricity.</p>


<p>Site operator – Geothermal Engineering Limited (GEL) – predicts United Downs will deliver 2MWe of baseload electricity once operational, plus additional zero carbon heat for local housing, hospitals and schools. The site also has the potential to fulfil a significant portion of the UK’s lithium demand. Tests at United Downs have 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 lithium could be used to support the growing EV industry as we transition to net zero.</p>
<p>GEL run monthly family open days to give local people the opportunity to learn about the project and see its progress. The next one is taking place on 20 August and tickets can be booked through <a href="https://www.eventbrite.co.uk/e/united-downs-deep-geothermal-power-project-family-open-day-tickets-880822552967#search">Eventbrite</a>.</p>


Latest news

Find out more about our new projects, events and industry insight.

Featured

11 Mar 2025

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

24 Jan 2023

19 Jan 2023

03 Jan 2023

20 Dec 2022

28 Nov 2022

10 Nov 2022

04 Nov 2022

26 Oct 2022

17 Oct 2022

12 Oct 2022

04 Oct 2022

22 Sep 2022