Thrive Renewables has launched a crowdfunding offer, aiming to raise at least £5 million to build new renewable energy generation and storage across the UK.
The share offer is promoted by Triodos Bank UK, through its crowdfunding platform.
Thrive Renewables has recently invested in an 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 new investment will support Thrive in investing in new onshore wind and commercial solar projects, as well as battery storage. It also wants to provide collaborative funding for community energy groups to build their own renewable energy projects.
Thrive 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.
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.
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.”
Whitni Thomas, head of corporate finance at Triodos Bank UK, added: “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.”
The crowdfunding platform is here