Thrive Renewables is launching a new crowdfunding offer, aiming to raise £5 million for its solar, battery storage and onshore wind activities.
The new funding will support Thrive in the first stage of its growth plans, with the company 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 is intending to increase its battery storage and baseload capacity and the collaborative funding available for community energy groups to build their own renewable energy projects.
Thrive recently built its first battery storage asset, a 5MW/7.5MWh site near Milton Keynes that it acquired from Eclipse Power Generation in 2020. Since then, it has also acquired a 20MW battery storage site in Bristol.
The share offer is being promoted by Triodos Bank UK through its crowdfunding platform, with Triodos having first established Thrive in 1994 as The Wind Fund, although the company has been independent of Triodos since 2016.
The minimum investment in the crowdfunding offer is £94 (40 shares). Thrive currently has £96 million assets under management, with the company posting an operating profit of £2.5 million and a turnover of £11 million for 2021.
Matthew Clayton, managing director of Thrive Renewables, said: “Now more than ever, people need to connect to our energy system. Thrive enables ordinary people to fund clean energy projects – they can see what their money is being used for.
"The climate emergency and energy crisis may feel too huge for any one of us to remedy, but by working together we can build new projects and deliver tangible change.”