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Latest news

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

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

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

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We’d like to take the opportunity to thank everyone who has participated in our share offer so far –with your help we’ve raised over £4 million to support our mission of building new clean energy projects that reduce carbon emissions and ultimately help tackle the climate emergency.
We’re now working towards our end goal of raising over £5 million (with a maximum raise of £10 million). The crowdfund marks the first step in our ambitious growth plans as we seek to further diversify and expand our portfolio, creating value across the electricity system as it transitions to net zero by 2035.
As well as investing in new renewable generation and battery projects, the funding generated will help support local communities looking to take a meaningful stake in the energy transition. We aim to continue investing collaboratively with community energy groups so that they can build their own projects and take control of their energy supply.

Minimum investment in the crowdfunding offer is £94 (40 shares) and shares can be held in a self-invested personal pension (SIPP). We are targeting 5-8% return per year through a combination of dividends and increasing share value. As with all investments, returns are not guaranteed, and investors may not get back all, or any, of their original investment.
The crowdfund launched on 27 June via Triodos Bank’s crowdfunding platform and we expect it to close by the end of September.

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TIDE &amp; ISE 2018

There’s still an opportunity to help us expand our portfolio of clean energy projects, from onshore wind to commercial rooftop solar and battery storage.

We've hit the £4 million milestone in our crowdfund - But we're not stopping there!

In response, there have been some significant policy announcements by government, including the Energy Security Bill, which is currently being read by Parliament, and a fundamental review of the UK electricity market. Currently gas prices dictate wholesale electricity costs and we have been calling for this to come to an end for some time – it is unacceptable that UK energy consumers are still not able to fully access the economic benefits of renewables.
Below we unpick the changing energy landscape, the proposed policy and market changes and what this means for the future roll-out of renewables in the UK.
<h3>Why are energy prices so high?</h3>
Ultimately, prices are high because of the way the electricity market is currently structured. Energy suppliers and generators trade electricity in half-hourly auctions, with the National Grid responsible for matching supply and demand. Bids for each half hour of demand are stacked in price order, starting with the least expensive and flexible generators – renewables – and the price is then set by the last and most expensive generator into the auction – often, gas.
This means that the end price we pay for electricity is susceptible to any wider volatility in the gas market, which has become increasingly strained due to a global supply shortage. Several geo-political issues are also at play, including the world’s response to the invasion of Ukraine.
With gas flows being restricted by Russia, the government has subsequently raised concerns over the country’s energy security and the need to end our dependence on fossil fuel imports. That’s where the energy security bill comes in.
<h3>The energy security bill</h3>
The Energy Security Bill was published in July, containing 26 measures that ministers claim will help reduce the UK’s dependence on imported gas. As we <a href="/latest-news/blog/energy-security-strategy-a-disappointing-result-for-onshore-wind-but-there-s-still-reasons-to-be-hopeful/">outlined in our initial response</a>, it was positive to see the government aligning the strategy to net zero and recognising the important role renewables will play in both reducing carbon emissions and lowering the cost of energy long term.
However, we were disappointed to see a lack of support for certain clean technologies such as onshore wind, especially as <a class="js-scroll-done" href="https://www.bloomberg.com/news/articles/2021-06-23/building-new-renewables-cheaper-than-running-fossil-fuel-plants#xj4y7vzkg">new data from BloombergNEF</a> has found that it’s now cheaper to build and operate new large-scale wind or solar plants in nearly half the world than it would be to run an existing coal or gas-fired power plant.
The bill, which has been called the most “ambitious package of energy measures in a decade”, also included the promise of a broad review into the UK electricity market which, amongst other things, aims to explore the ways we could decouple the wholesale electricity market price from fossil fuels.
<h3>Electricity market reform</h3>
The Department for Business, Energy &amp; Industrial Strategy (BEIS) launched the consultation in July as part of its Review of Electricity Market Arrangements (REMA). According to the press release, ‘REMA will focus on establishing a fit-for-purpose market design, identifying and implementing the reforms needed to GB electricity markets that work for businesses, industry, and households’.
Business and Energy Secretary Kwasi Kwarteng has said: “We’ve just seen the price of offshore UK wind power fall to an all-time low and gas is a shrinking portion of our electricity generating mix, so we need to explore ways of ensuring the electricity market is adapting to the times. That includes ensuring the cost benefits of our increasing supply of cheaper energy trickle down to consumers, but also that our system is fit for the future – especially with electricity demand set to double by 2035.”
Alongside a review of the marginal pricing model, another issue that has been raised is how we can incentivise consumers to use energy at times when renewables are cheap and abundant, instead of at times of high demand when power is more likely to be generated from high-cost, high-carbon sources like gas. It will also consult on the evolution and expansion of existing schemes, such as the Capacity Market and Contracts for Difference (CfD).
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. There is some work to be done on ensuring that initiatives such as the CfD auction work in favour of smaller projects too. We look forward to taking part in the consultation, considering how the reform will support future investment and development of clean energy projects, whilst working in the best interests of consumers during challenging times.
<h3>Keeping up momentum in a changing world</h3>
Although almost 40 per cent of our electricity was provided by renewable sources in 2021 – the second highest year for generation on record – the UK still relies too heavily on fossil fuels. According to the <a href="https://www.gov.uk/government/statistics/digest-of-uk-energy-statistics-dukes-2022">latest Digest of UK Energy Statistics</a> (DUKES), fossil fuel electricity generation increased by 11% last year, due to increased demand and lower renewable generation as a result of adverse weather conditions.
Given the current economic climate, there is a clear need to accelerate the roll-out of renewables in the UK, but this needs to be backed by favourable policies that allow investors and developers to move forward with building new projects quickly. The energy security bill and REMA go some way in increasing industry confidence and highlight an acknowledgement from government that moving to a cleaner energy system is both achievable and a priority. This is of course something we have known and championed for a long time, but we will continue sharing our insight to inform the important conversations unfolding. While we are facing increasingly difficult and uncertain times, one thing is for sure – there is no time to waste when it comes to ending our reliance on dirty fossil fuels. This is why Thrive was founded way back in 1994 and we’ll continue working hard to reduce carbon emissions and tackle the climate crisis.

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The government recently announced the ‘biggest reform of the UK electricity market in a generation’. With energy prices set to soar further as we move into winter, it’s critical that we accelerate our transition to a renewables-based energy system.

The energy market isn't working – Let the winds of change blow through

In <a href="https://www.positive.news/environment/energy/the-bristol-council-estate-building-englands-largest-wind-turbine/">our latest article with Positive News UK</a>, you can read more about Thrive’s work with Ambition Lawrence Weston – the pioneering community group behind England’s largest wind turbine – and why it should act as a shining light for other communities across the UK who want to follow suit.

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Thrive’s Managing Director, Matthew, discusses this landmark project, the power of community energy and why onshore wind should be used to help end the UK’s dependence on dirty fossil fuels.

Positive News UK: The Bristol community building England's largest wind turbine

With support from Centre for Sustainable Energy (CSE), eligible buildings can now apply for the funding which can be used to cover energy saving measures including insulation, draught proofing, improved heating or lighting controls and LED lighting. Communities will also be able to access free expert advice from CSE on zero-cost solutions.
To apply for the nationwide scheme, which is now in its sixth round, the shared building – such as a church hall or community centre – will need to be located within a 20-mile radius of one of our clean energy projects.
We first started our Community Benefit Programme back in 2016 because we wanted to plug a funding gap between domestic and commercial properties. Since then, we’ve awarded 41 grants to 33 community buildings, totalling over £120,000. These improvements save 68 tonnes of carbon dioxide each year.
The application process will be administered by CSE, with applicants asked to complete a full energy survey of the shared building using guidance supplied by the charity. This will help to identify potential improvements, including zero-cost measures, and calculate carbon and cost savings for different options.
Applications will remain open until 11th September 2022. You can find out more information and apply here: <a href="https://www.cse.org.uk/projects/view/1304">https://www.cse.org.uk/projects/view/1304</a>

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Round six of our Community Benefit Programme is now open to applications, run in conjunction with national energy charity, Centre for Sustainable Energy (CSE).

Thrive offering energy efficiency grants to local community buildings to help with energy bills

It’s the second year in a row that we’ve been recognised, a distinction granted by B Lab to global B Corps whose verified impact scores rank in the top 5% of their size. That means out of 5,000 B Corps, our commitment to the environment puts us in the top 250 around the world!
Protecting the planet has always been a driving force for Thrive. Since 1994, we’ve been working to establish a clean energy system in the UK, helping to reduce dangerous carbon emissions and ultimately tackling climate change. During that time, we’ve funded and built 32 clean energy projects across the UK, generated over 2 million MWh of clean electricity and avoided the emission of 911,828 tonnes of CO2e.

In 2021, our wind, solar and hydro projects produced over 110,000 MWh of renewable electricity, enough to power over 30,000 UK homes or 28% of all UK EV journeys and delivered 49,515 tonnes of Carbon Dioxide emissions reductions. Recognising that there’s always more that we can do to reduce our own carbon footprint, we also committed to reaching net zero by 2030 as part of B Corp’s Climate Collective.
Every year, ‘Best for the World’ recognises the top-performing B Corps creating the greatest positive impact through their business. The full list of B Corps awarded ‘Best for the World’ across the impact pillars of community, customers, environment, governance, and workers are available <a href="https://www.bcorporation.net/en-us/best-for-the-world">here</a>.

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We’ve been recognised in the environment pillar, ranking in the top 5% of all global B Corps.

Thrive awarded B Corp’s ‘Best For the World’ status for second year running

We’re delighted to announce that Jo Butlin has joined Thrive as Non-Executive Director and Chair Designate, after spending a quarter of a century leading and operating energy businesses across the country including roles at E.ON UK, SmartestEnergy and Utilyx.
Using her vast knowledge of the sector, Jo set up her own consulting company, EnergyBridge Limited in 2017, to help businesses and investors navigate the evolving energy market. Her experience will prove extremely beneficial as we move forwards with net zero, continuing our mission to build new clean energy projects across the UK, reduce carbon emissions and tackle the climate emergency.
As well as her role as Chair of Ofgem’s Electricity System Operator (ESO) Performance Panel, Jo is Chair of the Board at The Energy Consortium (TEC), which is focused on helping the higher education sector to effectively manage its energy and carbon costs. She is also a member of the ICAEW&#8217;s Energy and Resources Group, National Grid ESO’s Power Responsive Steering Committee and a founder member of the Women&#8217;s Utilities Network (WUN), a not-for-profit which supports women working in the utilities industries to connect, support, develop and encourage one another.

Jo will continue as Chair Designate until Thrive’s Annual General Meeting (AGM) on 28 June, where the Board intend to formally appoint her as Chair. She succeeds Simon Roberts OBE, who announced he was stepping down earlier this year after 10 very effective years as Chair of the Board and 13 years in total as a non-executive director.
As chair, Jo will lead a board of three executive and five non-executive directors, which include five women and four men.

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Jo brings over 25 years’ experience working in the UK energy industry, with deep insight into policy, regulation and operational leadership.

Thrive appoints Jo Butlin as Non-Executive Director and Chair Designate

While it sounds like a no-brainer, the government failed to include any tangible target for onshore wind – something that has been widely criticised, especially given the fact that it’s one of the cheapest and fastest ways to build new renewable capacity. Below we summarise the government’s ‘woolly’ commitments to onshore wind and explore how we can continue supporting the roll-out of this technology.
<h3>Unpicking the energy security strategy</h3>
It was disappointing to see the government miss an opportunity to unleash the full power of onshore wind. Instead of supporting widespread acceleration through changes to planning regulations, the government has said that it will be consulting on how to develop partnerships with ‘a limited number of supportive communities who wish to host new onshore wind infrastructure in return for guaranteed lower energy bills’.
The problem with this is that we know from the government’s own research that support for onshore wind is widespread, so we will need to understand how the government plans on categorising this ‘limited number of supportive communities’. Of course, we are very keen to engage with the consultation to help build new onshore wind for those that want it – something which is currently extremely challenging for them to do in England.
There was also a nod to repowering, with the government consulting on how it can facilitate the replacement of machines at the end of their life with new, more efficient models. Again, quite how this unfolds is yet to be seen but repowering has the potential to generate much more power from an existing site and, if we don’t get this right, the UK’s fleet of renewables could shrink over the next 15 years rather than grow at the pace required.
We undertook the exercise at our Caton Moor wind farm, replacing ten old turbines with eight more modern, efficient machines. As a result, we were able to increase generation sevenfold to 47 million units of electricity per annum.
<h3>Communities are on board with wind </h3>
For many years there has been an assumption that the British public do not like onshore wind, something that David Cameron used to his advantage when introducing an effective ban back in 2015. This could not be further from the truth. In fact, at over 75%, public support for onshore wind is high and this is true across the political spectrum, with 88% of Lib Dem voters in favour of the technology, followed by 83% of Labour voters and 79% of Conservative voters. According to the <a href="https://www.theguardian.com/environment/2022/apr/10/three-quarters-of-britons-back-expansion-of-wind-power-poll-reveals">Opinium poll carried out on behalf of the Observer</a>, two thirds of respondents would also be happy for a windfarm to be built near them.
We’ve witnessed first-hand the positive impact onshore wind can have on host communities. We’ve recently provided a £4 million loan to Ambition Community Energy, enabling the community in Bristol to get their 4.2MW wind project – the tallest in England – into construction. Once built, the turbine will produce enough clean electricity to power close to 3,000 homes – equivalent to the domestic use of Lawrence Weston – and will provide a new revenue stream for residents, with 100% of the profits being reinvested into the local area.
While the benefits promise to be great, it hasn’t been a straightforward process for the Ambition Community Energy team. The group first committed to the idea of hosting a wind turbine in 2016 and have had to overcome many challenges since, including the legacy of the 2015 planning restrictions which meant developers had to prove that a project will be built in an area designated for wind and that it’s stated so in the local plan. In this case, planning officers initially recommended a rejection of the community-owned turbine, but Bristol City Council’s planning committee voted unanimously in its favour. Because of these restrictions, the project also had to be submitted to the Secretary of State for final approval, despite the fact there was unanimous support from the community.
The government has rightly identified that communities do need to be supportive of local onshore wind as part of its energy security strategy, but just how that support will be defined is still up for discussion. Current planning policy makes it difficult for local authorities to approve these types of projects, with <a href="https://info.uwe.ac.uk/news/UWENews/news.aspx?id=4220">research by Dr Rebecca Windemer,</a> lecturer in environmental planning at the University of West England, finding that new wind farms can’t be developed in 89% of local authorities in England. Moving forwards, we’d be looking for the government to make regulation changes that better support local planning authorities and ensure those who are in favour of wind can get it built.
We will certainly be doing everything we can to help communities generate their own power from wind – not only helping to lower energy bills amid soaring wholesale gas prices, but creating the infrastructure needed to support a homegrown, clean energy system in the UK.
<h3>Moving forwards with onshore wind</h3>
It’s no secret that the government has missed a huge opportunity to maximise the onshore wind projects that are ready-to-go in the UK but, while we wait for the consultations on community engagement and repowering, we’d now like to see attention turn to the fourth Contracts for Difference (CfD) auction which is due to take place soon.
Since the government initially set out its intentions for the auction, a number of things have changed. Specifically, consumer bills have risen drastically due to the gas price crisis and invasion of Ukraine, and its own energy security strategy set out a target of achieving 95% low carbon power by 2030. We’re supporting RUK in its More Renewables Today campaign, urging Boris Johnson to secure additional onshore capacity as part of the next CfD auction to produce cheaper, homegrown electricity.
Why does this help? The government’s Contracts for Difference scheme guarantees a set power price over 15 years, reducing the risk for investors and therefore the capital cost for developers. By securing low-cost, long-term clean power supplies for consumers, the CfD insulates households from the volatile costs and price shocks we’ve seen recently. In fact, RUK states that if the fourth CfD allocation round were to secure an additional 2.2GW above the Government’s current ambitions, this would cut consumers’ exposure to gas by a further £1.5bn a year.
It’s also important to remember that solar and onshore wind sites can be built faster than any other form of new electricity generation. That means that shovel-ready onshore wind and solar farms could be providing the UK with clean, low cost, homegrown power as early as next year if the government seizes the opportunity now.

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How can we harness the power of onshore wind post energy security strategy?

Thrive has provided a £4 million loan to get this brilliant initiative into construction, with groundwork likely to start in June and the commissioning of the turbine expected in Spring 2023.
With a maximum capacity of 4.2 MW, the 115m diameter, 150m 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.
Providing a new revenue stream for the local community in Lawrence Weston, all profits from electricity sales will be reinvested back into the area, acting as a driver for regeneration. The group also plan to build an Energy Learning Zone to inspire young people and provide training to upskill residents for zero carbon careers.
Set up as a community interest company, Ambition Community Energy was born out of Ambition Lawrence Weston – a Bristol-based charity established in 2012 by a group of residents who wanted to make the area a better place to live, after a decline in local services.

Ambition Community Energy initially received funding from the Urban Community Energy Fund in 2016 (BEIS funding which was supported &amp; administered by Bristol-based organisation Centre for Sustainable Energy). Bristol City Council’s Energy Services Team agreed to help them identify suitable council land and the planning application received support from residents, local communities and local councillors, as well as funding from the Bristol Community Energy Fund, Bristol and Bath Regional Capital and the West of England Combined Authority (European Regional Development Funding) and a number of private individuals.
Planning officers recommended a rejection of the scheme, but Bristol City Council’s planning committee voted unanimously in its favour. Despite this, the project still had to be submitted to the Secretary of State for final approval.

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Guardian group shot ACE

We’re providing £4 million in funding for a new 150-metre community owned wind turbine near Lawrence Weston, Bristol.

Power for the people – Ambition Community Energy to build England’s tallest wind turbine

The challenge is that changing the energy system takes time, so taking a long view is essential. It was positive to see that the strategy aligned with how we’re going to achieve net zero, recognising the important role renewables will play in ending our reliance on fossil fuels and lowering the cost of energy. In fact, the government stated that 95% of the country’s electricity could come from low-carbon sources by 2030 – five years ahead of its existing aim of decarbonising the grid by 2035. It largely focused on nuclear power and offshore wind, however, and missed obvious, shorter-term solutions such as improving energy efficiency and utilising onshore wind.
Below are some of our biggest takeaways from the strategy and what this means for increasing energy security, helping with fuel poverty and tackling the climate crisis.
<h3>Solar power</h3>
The government has stated that it will look to increase the UK’s current 14GW of solar capacity, with the potential to grow this up to 5 times by 2035. Alongside onshore wind, solar is one of the quickest and cheapest ways to generate clean power, but there were no concrete targets or details, other than the need to explore both large-scale projects and rooftop solar panels. Commercial rooftop solar arrays can help businesses to reduce energy bills and decrease their carbon footprint. We’ve been working with Olympus Power since 2020, building on our ‘direct wire’ approach where businesses benefit financially and environmentally from the electricity they generate on site.
In response to the strategy, Solar Energy UK stated that a five-fold increase in generation would help support 60,000 green jobs. However, to achieve this there has to be ‘significant investment in grid infrastructure and further reforms to planning to expedite new solar projects’.
<h3>Onshore wind </h3>
Prior to the strategy, we supported RenewableUK (RUK) in its calls for a tangible target around onshore wind. According to RUK, doubling the UK’s capacity to 30GW by 2030 would reduce consumer bills by £16.3 billion, generate £45 billion of economic activity and create 27,000 full-time jobs in the UK. Analysis by Carbon Brief has also revealed that wind and solar generation is now <a href="https://twitter.com/DrSimEvans/status/1501556278115676163">six times cheaper than UK gas generation.</a>
Despite claims to the contrary, wind turbines are popular with the public, much more so than nuclear. In fact, public attitudes data from BEIS has found that 80% are supportive of building new onshore wind capacity, compared to 37% with nuclear<a href="#_ftn1" name="_ftnref1">[1]</a>. It was therefore really disappointing to see the government miss a huge opportunity to unleash the power of onshore wind. Instead of supporting widespread acceleration through changes to planning regulations, the government has said that it will be consulting on how to develop partnerships with ‘a limited number of supportive communities who wish to host new onshore wind infrastructure in return for guaranteed lower energy bills’.
The problem with this is that the planning restrictions introduced under David Cameron in 2015 have made building new onshore wind almost impossible for communities in England because they have to show that the site is designated for onshore wind development and is stated so in the local plan. Research by Dr Rebecca Windemer, lecturer in environmental planning at the University of West England, found that new wind farms <a href="https://info.uwe.ac.uk/news/UWENews/news.aspx?id=4220">can’t be developed in 89% of local authorities in England</a>. Given the very ambiguous wording shared in the strategy, it will be interesting to see how this consultation plays out and what changes they will be making to support those wanting to host onshore wind projects. Our work for the last 25 years has been helping people meaningfully connect with renewable energy and we will be doing everything we can to open up opportunities for communities looking to generate their own power from wind.
It&#8217;s worth mentioning that it wasn’t all doom and gloom for onshore wind. The government did mention that it will look at arrangements to support the repowering of existing onshore wind sites, which we consider to be a crucial component in decarbonising the energy system.  Again, quite how this unfolds is yet to be seen but repowering and life extension has the potential to generate much more power. We undertook the exercise at our Caton Moor wind farm, replacing ten old turbines with eight more modern, efficient machines. As a result, we were able to increase generation sevenfold to 47 million units of electricity per annum.
<h3>Battery storage</h3>
The ramping up of renewables has knock-on effects for storage innovation, with the government stating that within the decade we will need to prioritise ‘hyper-flexibility in matching supply and demand so that minimal energy is wasted’. It claims that a more efficient, responsive system could bring costs down by up to £10 billion a year by 2050.
To enable this flexibility, the strategy also states that the government will ‘encourage all forms of flexibility with sufficient large-scale, long-duration electricity storage to balance the overall system by developing appropriate policy to enable investment’. Again, there is a lack of clear targets but it’s positive to see acknowledgement of battery storage and the role it plays in balancing out the variability of renewable sources such as wind and solar. In addition to the 5MW battery we built in 2021, we’re commencing construction of a 20 MW site at Feeder Road in Bristol, which will have the capacity to deliver 1.5 hours or 30MWh of electricity to the national and local grid. The benefit of smaller scale projects like this is that they can be developed relatively quickly and can work in tandem to operate as a single, distributed power plant.
It’s important to note that there were also positives around geothermal, offshore wind and floating wind, but the strategy was less of a detailed action plan and more of a list of woolly ‘ambitions’. We remain committed to informing these conversations as we move forwards.
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<a href="#_ftnref1" name="_ftn1">[1]</a> <a href="https://www.gov.uk/government/collections/public-attitudes-tracking-survey">https://www.gov.uk/government/collections/public-attitudes-tracking-survey</a>

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Following soaring wholesale gas prices, the government has published its energy security strategy. Below we digest the key takeaways and what it means for the future roll-out of renewables in the UK.

Energy security strategy – A disappointing result for onshore wind, but there’s still reasons to be hopeful

At Thrive, we recognise the important role battery storage has to play and are busy building our second project &#8211; a 20 MW site &#8211; in Bristol.
Read more about the background to the project (it involves a campaign to stop 48 diesel generators being built near a local nursery school!) and what it means for net zero in <a href="https://www.positive.news/society/a-key-piece-of-the-puzzle-for-a-more-energy-secure-uk-storage-and-more-of-it/" target="_blank" rel="noopener">our article with Positive News.</a>

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Thrive’s Managing Director, Matthew, and Investment Manager, Tom, sat down with Positive News to talk about our battery projects and why they are so critical to the energy system of the future.

A key piece of the puzzle for a more energy-secure UK? More storage!

The reserve is located near our Drumduff wind farm, so we were thrilled to be invited to the opening of the boardwalk extension, which our site helped to fund. As part of the event, NatureScot invited some local schoolchildren down to cut the hand-crafted ribbon and it was fantastic to see how engaged and excited they were to be exploring the natural area.

The funding helped to extend the existing boardwalk by 170 metres, creating more paths and links for the local community and visitors to enjoy. There was also a lot of support from local volunteers, including Scotland’s Rural College students from Oatridge, who lay over a thousand anti-slip strips. NatureScot is now planning a second phase, which will see the boardwalk extended a further 280 metres this year.
Made up of raised bogs, 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.
Co-owned by nearby renewable energy developer, GreenPower, 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.

We took a trip up to Scotland to see how funding from our Drumduff wind farm is being put to good use.

Return to the wild: Funding future exploration at Blawhorn Moss National Nature Reserve

I had a great time while I was there, catching up with various industry contacts, attending a dinner at the Hawthorn Club – an international network for women working within the energy industry – and speaking on an alternative funding panel at the Energy Storage Summit. It was fantastic to hear about all the innovation and progress happening within the sector and a real buzz to be back meeting people in the city again.
Because of this, I’m starting the week by catching up with my team and reviewing the generation figures across our portfolio. We currently fund, own and operate 22 clean energy projects and it’s been a very windy week. This means figures are particularly high – especially for our wind farms – and I need to make sure it’s reflected in our financial modelling. This is what helps us to make important investment decisions, mapping all the cash flows and financing on a project-by-project basis.
The Intergovernmental Panel on Climate Change (IPCC) has published its second report into global climate change and it paints a bleak picture. At Thrive, we’ve been building renewable projects since 1994 so we’re very much focused on action. It will be interesting to see how the story unfolds over the week and whether there’s a clear roadmap for next steps.
On Tuesday, I have various calls in the diary – I’m particularly looking forward to one with a community group we’re working with. We engage with local communities in lots of different ways and it’s an exciting and rewarding part of the job as I know we’re working towards a common goal of reducing carbon emissions and tackling climate change. Once built, the project will not only help add more renewable capacity to the local and national grid but will also deliver multiple benefits for the community.
Tuesday and Wednesday is spent in the office. It feels good to reconnect with colleagues in person after a week out and about, and one of my team is travelling in especially from London. We share a building with our friends at Triodos Bank, it’s BREEAM certified and one of the most sustainable in Bristol, which helps to keep me inspired. Today I am following up on invites to Regen’s Green Energy Awards at the end of the month. We’re one of the sponsors for the event and I’m really looking forward to hosting a table alongside our MD, Matthew. With the IPCC report still fresh, it’s nice to look forward to an event that focuses more on the positive and showcases the achievements within the sector.
Thursday and Friday flies by. I’m going to be speaking on a webinar with smart grid technology company, GridBeyond, in a few weeks which is exciting. I have a planning call alongside the other panellists. I’m going to be drawing on Thrive’s experience of funding and building our first 5MW battery project – Wicken – which is now operational, as well as our 20MW battery that is currently in construction at Feeder Road in Bristol. Storage is going to be critical for the UK’s clean energy future, helping to balance out the variability of natural resources such as sun and wind. It’s something that the industry is really focused on right now as part of our transition from fossil fuels, so it’s important for Thrive to be represented.
As Friday draws to a close, there’s lots to look forward to. Next week is International Women’s Day and a group of us are getting together to join the Institute of Directors (IODs) women’s leadership conference, with renowned ethologist and activist Dr Jane Goodall DBE as one of the keynote speakers. It’s also B Corp month so we’ll be inviting our stakeholders to get #BehindtheB and find out what being a B Corp is really about. I’ll finish it there!

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Monika Paplaczyk Thrive Renewables

Our Investment Director, Monika, gives you a glimpse into what it’s really like to work for a renewable energy company.

#BehindTheB: A week in the life of our Investment Director

All resolutions were passed with a significant majority, and it was inspiring to have <a href="https://www.lse.ac.uk/GranthamInstitute/profile/nick-robins/" target="_blank" rel="noopener">Professor Nick Robins</a> from the Grantham Research Institute on Climate Change and the Environment join us for a fireside chat on navigating a just energy transition.

After the meeting, we invited shareholders to visit the community owned ACE wind project. We are extremely proud to have invested £4 million to fund the construction of this turbine &#8211; England&#8217;s largest. It was particularly special to visit the site just ahead of <a href="https://www.communityenergyengland.org/pages/community-energy-fortnight" target="_blank" rel="noopener">Community Energy Fortnight</a> which celebrates the importance of community-led energy projects just like this. Thrive are proud to be sponsoring the two week campaign run by Community Energy England for the fourth year running.
On site, Mark Pepper, Development Manager at Ambition Lawrence Weston, the charity that formed ACE, shared the inspiring story behind the project, which is owned by the local community. Profits generated from the turbine will be reinvested back into the local area at Lawrence Weston, Bristol, acting as a driver for regeneration. ACE also plan to build an Energy Learning Zone to inspire young people and provide training to upskill residents for zero carbon careers.

It was also great to have Darren Jones, Chief Secretary to the Treasury, join us for the visit.

Darren Jones, Chief Secretary to the Treasury, speaking to shareholders at ACE wind turbine 

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ACE_June_2024-15

Following our Annual General Meeting (AGM), shareholders visited the Ambition Community Energy (ACE) wind turbine in the countdown to Community Energy Fortnight. 

‘Just transition’ brought to life at AGM with a visit to England’s largest community owned onshore wind turbine

Last year Thrive provided community energy group, ATTIX CIC, with a loan of £4 million to enable them to press on with construction. We recently headed up to Scotland to spend time on site with Allan and Scott Wilson from Radio City Association, who founded Attix CIC as part of their mission to develop community owned renewable energy assets and other community initiatives in the Garnock Valley.
The community have already overcome multiple challenges, so it was rewarding to see their efforts coming to fruition as construction progresses. During our visit, we got to see some of the project infrastructure already in place, including the completed access track – ready for the turbine to be installed in the Autumn.

Once operational, the turbine will have the capacity to generate 7,839 MWh of clean electricity per year, the equivalent of powering 2,234 average UK homes, and will also deliver 3,324 tonnes of carbon emissions reductions annually. Profits from electricity sales will be reinvested back into the local area, which could include local sports and recreational facilities, as well as supporting the refurbishment of the Knox Institute building – a one-time important community hub. One of their recent initiatives which we were also able to see was a cycle path to connect the area better with the rail station. In the future the profits from the wind turbine will be able to fund similar initiatives.
Thrive’s funding is complemented by a £1.6 million investment from responsible finance provider, Social Investment Scotland, as part of a blended finance package, while Local Energy Scotland supported the project through planning and design with funding via the Scottish Government’s Community and Renewable Energy Scheme (CARES).
This project is a great example for other community groups in Scotland and we were proud to see it featured in presentations and discussions at this year’s All Energy conference, one of the UK’s largest annual gatherings of professionals in the renewables space.
Construction of the project is expected to be completed by the end of this year.
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<img loading="lazy" decoding="async" class="aligncenter wp-image-6881 size-large" src="/wp-content/uploads/2024/06/Kil-32-768x1024.jpg" alt="" width="768" height="1024" srcset="https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2024/06/Kil-32-768x1024.jpg 768w, https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2024/06/Kil-32-225x300.jpg 225w, https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2024/06/Kil-32-1152x1536.jpg 1152w, https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2024/06/Kil-32-1536x2048.jpg 1536w, https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2024/06/Kil-32-scaled.jpg 1920w" sizes="auto, (max-width: 768px) 100vw, 768px" />

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Kil 24

Construction of the 2.5MW project near North Ayrshire is well underway and expected to be completed by the end of this year.

Behind the scenes at Scotland’s first subsidy free, 100% community-owned onshore wind turbine

Last year our wind, solar and hydro projects generated 136,316 MWh of renewable electricity [1]. That’s enough to power over 42,000 average UK homes, equivalent to a town the size of Preston [2]. Our portfolio of clean energy projects also delivered emissions reductions equivalent to 58,620 tCO2e[3].

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20240130TRBabbasaDay-45 AR

Thrive Impact 2023 

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Thrive_Impact 2023_landscape_AW

We were pleased to be able to invest in more community energy projects in 2023. This includes investing £4 million in a community-owned wind project in Kilbirnie, Scotland, bringing the total we have committed to community energy projects to date to £20 million. Thrive also became the first commercial battery owner to offer shared ownership to a local community group at the Feeder Road project in Bristol, which entered operation in December 2023.
The social, environmental and financial impact Thrive delivers is recognised in our B Corp status. Early in 2024 we recertified, achieving a new impact score of 131.1 – placing us in the top 3% of all UK B Corps.
As we approach our thirtieth year of building and funding clean energy projects, we are committed to doubling the amount of new generation we invest in over the next five years. Last year we made our single largest investment to date &#8211; providing a £20 million loan to Ethical Power to fund part of its solar and battery storage pipeline, with 178 MW currently in development.
As well as building new clean energy capacity, we are continuing to connect more people to renewables, welcoming over 480 new investors via our crowdfund which launched in October 2023 and completed in January 2024. It is thanks to our investors old and new that we are able to help build an energy system fit for future generations.

Another key highlight from 2023 was awarding a record £37,000 in energy efficiency grants to community buildings across the UK through our Community Benefit Programme. The annual programme, run in collaboration with the Centre for Sustainable Energy (CSE,) helps community hubs near our projects reduce their carbon footprints and manage energy costs. For the first time since starting the programme in 2016, we also provided ‘energy essentials’ training to applicants, delivered by CSE, on topics such as fuel poverty awareness.

The fully audited Annual Report and Financial Statements can be downloaded <a href="https://cms-admin.thriverenewables.co.uk/wp-content/uploads/2024/05/Thrive_Annual-report_2023_Final-web-version.pdf" target="_blank" rel="noopener">here</a>.
*  Please remember that past performance cannot be relied on as a guide to future returns.  
[1] Impact Portfolio describing Thrive’s share of projects owned plus the projects Thrive is funding. 
[2] Calculated using the most recent statistics from the DESNZ showing that UK average domestic household consumption is 3,239 kWh per annum (<a href="https://www.renewableuk.com/page/UKWEDExplained" target="_blank" rel="noopener">https://www.renewableuk.com/page/UKWEDExplained</a>) 
Average residents per household  2.4 (<a href="https://www.ons.gov.uk/peoplepopulationandcommunity/birthsdeathsandmarriages/families/bulletins/familiesandhouseholds/2020" target="_blank" rel="noopener">https://www.ons.gov.uk/peoplepopulationandcommunity/birthsdeathsandmarriages/families/bulletins/familiesandhouseholds/2020</a>), Population of Preston is 99,198 (<a href="https://www.thegeographist.com/uk-cities-population-1000/" target="_blank" rel="noopener">https://www.thegeographist.com/uk-cities-population-1000/</a>). 
[3] RenewableUK uses DESNZ’s “all non-renewable fuels” emissions statistic of 424 tonnes of carbon dioxide per GWh of electricity supplied in the Digest of UK Energy Statistics (July 2023) Table 5.14 (“Estimated carbon dioxide emissions from electricity supplied”. Carbon reduction is calculated by multiplying the total amount of renewable electricity generated by Thrive’s impact portfolio per year by the number of tonnes of carbon which fossil fuels would have produced to generate the same amount of electricity.

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