Thrive Renewables has launched a new share offer to support its aim to double the amount of renewable energy generation capacity in its portfolio over the next five years.
Equity raised through the crowdfunding offer will be used to build new onshore wind, solar, geothermal and battery storage projects.
Thrive Renewables’ pipeline includes several large-scale solar PV and battery storage projects through its £20m investment in infrastructure company Ethical Power.
Thrive has also recently invested £4m in community energy group, Attix CIC, to build Scotland’s first subsidy free, 100% community-owned onshore wind turbine just outside Kilbirnie, North Ayrshire.
These new deals will complement an existing portfolio of 22 operational projects which generated £5.9m of operating profits and delivered the equivalent of 28,000 tonnes of carbon dioxide emissions reductions in the first half of 2023.
Other recent development projects include providing £4m funding to construct England’s largest onshore wind turbine, which is wholly community-owned, and a 20MW battery in its home city of Bristol, plus a total of £6m investment in United Downs – the UK’s first deep geothermal electricity generation plant in Cornwall, which also has the potential for the extraction of lithium for battery manufacture.
This share offer is promoted by Triodos Bank UK, through its crowdfunding platform and aims to raise the first £2m for Thrive Renewables as part of a wider fundraising campaign to raise £10m in the next six months and a total of £50m by 2028.
It builds on a £6.8m crowdfunding raise in 2022.