Thrive Renewables has been funding clean energy projects since 1994, and has now launched a crowdfunding offer in order to build new renewable energy generation and storage across the UK.
It comes at a critical time for UK energy policy, with renewables a key sector for growth in response to the gas price crisis.
UK renewables projects
Recent development projects Thrive Renewables has invested in include England’s tallest onshore wind turbine in partnership with Ambition Community Energy, a 20MW battery project in Bristol and the UK’s first commercial deep geothermal electricity generation plant in Cornwall.
The company has also recently built a 5MW battery storage facility near Milton Keynes and funded the installation of a number of commercial solar rooftop installations.
The share offer is promoted by Triodos Bank UK through its crowdfunding platform. The aim of the campaign is to raise at least £5 million for Thrive Renewables, which has almost 30 years’ experience in building, owning and operating clean energy projects with the backing of thousands of investors – large and small.
The new investment will support Thrive in the first stage of its ambitious plans for growth, diversifying and expanding its portfolio of clean energy projects to create value across the electricity system as it transitions to net zero by 2035.
As well as investing in new onshore wind and commercial solar projects, Thrive intends to increase its battery storage and baseload capacity and the collaborative funding available for community energy groups to build their own renewable energy projects.
A mission-based business
In 2021 Thrive’s wind, solar and hydro projects generated just over 110,000 MWh of renewable electricity, enough to power over 30,000 UK homes or 28% of all UK electric vehicle journeys. Its portfolio also delivered 49,515 tonnes of carbon dioxide emissions reductions.
A certified B Corporation, Thrive has been a mission-based business since its foundation, with an ambition to power the transition to a sustainable energy future by helping people connect with clean energy projects as investors.
The company was first established by Triodos Bank as ‘The Wind Fund plc’ in 1994, to provide retail investors with the opportunity to invest directly in clean energy projects. Since 2016, the company has been independent of Triodos Bank, and branded as Thrive Renewables.
‘This crowdfunding opportunity will give investors a direct link to a pioneering company in the renewable energy sector, where they can clearly see the positive impact that their investment is making. Thrive has a great track record in demonstrating how clean energy projects can help create a more just energy system, all while aiming to generate a fair financial return for shareholders.’
Head of corporate finance at Triodos Bank UK
Making clean energy mainstream
The minimum investment in the crowdfunding offer is £94 (40 shares) and shares can be held in a self-invested personal pension (SIPP). The company is 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 (see ‘Important information’ below).