Thrive Renewables, a pioneer of 30 years in the UK’s clean energy sector, has launched a new £5 million share offer on Triodos Bank’s crowdfunding platform, allowing people to invest in new clean energy projects to tackle the climate emergency.
In 2023, Thrive announced ambitious growth plans, with an aim to double the amount of capacity it funds by 2028. Two years later, it has already made significant progress with this goal, securing new project development rights that will take its total capacity from 91.5 to 170.1MW by 2027.
In its headline annual results also announced today, Thrive reported a revenue of £26 million and operating profit of £11.3 million. In 2024, it also invested £20.6 million back into new clean energy projects.
Thrive works with investors, developers, businesses and communities to fund, build and operate clean energy projects. In its 30-year history, the organisation has raised over £63 million from crowdfunding and has funded 44 wind, solar, hydro, storage, tidal and geothermal projects, including 6 that are community-owned.
The company continues to innovate in the way it raises and deploys capital. Two significant developments include a co-investment partnership with TopCashback Sustainability, which will enable Thrive to deploy an additional £40 million of capital by match funding what it invests. The company has also recently announced a new match funding partnership with leading social impact investor, Better Society Capital, bringing together £40 million for community-owned wind and solar projects across the UK. Fair Play Clean Energy, Thrive’s joint venture with TopCashback Sustainability, will provide £20 million of the investment, with Better Society Capital providing matched funding.
Thrive’s notable projects include England’s largest, onshore wind turbine which is 100% community-owned, and the United Downs project in Cornwall, which will soon generate the UK’s first geothermal electricity. Most recently, the company has acquired the development rights for two new onshore wind farms in the UK, totalling over 69MW, and has solar and community-owned projects also in the pipeline.
The Government’s plans to reform the energy system, with an ambition to double onshore wind, triple solar and quadruple offshore wind by 2030, mean that Thrive Renewable’s growth plans come at a key time for the wider sector.
Matthew Clayton, CEO of Thrive Renewables, commented: “Since its foundation, Thrive has been connecting people with clean energy projects right across the UK. 30 years on, the climate emergency is at crisis point and many of the world’s leaders are not stepping up or taking action fast enough. This latest crowdfunding raise has the potential to bring together thousands of individuals and impact-driven corporate investors to help create a fairer, brighter future where everyone benefits from cheaper electricity.”
Thrive Renewables has worked with Triodos Bank on all of its share offers and now has over 6,000 shareholders. The bank has also provided debt finance for a number of the company’s renewable energy projects.
Whitni Thomas, head of corporate finance at Triodos Bank UK, added: “It’s great to be working with the Thrive Renewables team again to bring this share offer to investors. The UK electricity market has transformed in the last 20 years and 2024 was a record year for renewables. Thrive allows everyday investors to play a part in that systemic shift and deliver positive climate solutions.”
The minimum investment in the crowdfunding offer is £247 (100 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, and Thrive shares can qualify for inheritance tax relief. This should be seen as a long-term investment. As with all investments, returns are not guaranteed, and investors may not get back all, or any, of their original investment.
Thrive’s Directors have recommended a dividend for 2024 of 12 pence per share be approved by shareholders at its AGM in June 2025. Investors should note that past performance is no indication of future likely performance.
Important information
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. Take 2 mins to learn more.
Investing in shares 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. Shares can be sold through a monthly share auction should there be buyers but may take time to sell. Tax eligibility and savings depend on individual circumstances and are subject to change.
Investments are not covered by the Financial Services Compensation Scheme (FSCS) and your capital is at risk and returns are not guaranteed. You should always read the offer document in full before deciding whether to invest as it will cover risks specific to an individual investment. You can read more about the general risks associated with making these types of investments here. If you are unsure if any of these investments are right for you, you should contact an Independent Financial Adviser.
