Investment company of renewable energy Thrive Renewables has provided a loan of £ 10 million from Ethical Investment Bank Triodos Bank UK.
The loan will be used to finance the development and construction of new wind farms, PV energy plants on solar energy and projects for renewable energy projects. Thrive Renewables works with a “mixed financing” approach, and accepts investments from both large financial institutions and smaller shareholders.
Thrive currently has a stock offer on the crowdfunding platform of Triodos Bank UK, with which individual investors can buy an interest in new Clean Energy projects; At the time of publication, this has raised more than £ 1.8 million for new development.
Norrie Cruickshank, senior relationship manager at Triodos Bank UK, praised the efforts of Thrive Renewables and remarked: “By having everyday investors play a role in the systemic shift that takes place in the British energy system, they help them in positive climate solutions in the blanket and bluestone -blankings. doing.”
Matthew Clayton, CEO of Thrive Renewables, added: “With an exciting pipeline and projects that progress in construction, it is great to be able to work this money right away, which accelerates the transition from the UK to a cleaner, fairer energy system.”
To date, Thrive Renewables has funded 45 solar PV, wind energy, hydropower, energy storage and geothermal energy projects in its more than three decades of operation in the renewable energy sector. Below is the 20MW/30MWH Feeder Road Battery Energy Storage System (Bess), which came online in January last year and is located in Bristol, a city in which it also has a 100% in Onshore wind turbine in the community. Community property is an important part of the mission of Thrive Renewables; Local Energy Cooperative Bristol Energy Cooperative offered a co-investment of 20% in the Feather Road Bess.
More recent, August 2024, Thrive Renewables saw a joint venture entering Topcashback Sustainability to further finance the progress of the capacity expansion of Thrive Renewables. The companies state that this joint venture has unlocked up to £ 80 million in capital, which is expected to be used to immediately finance renewable energy projects throughout the VK over the next four years.
Monika Paplaczyk, Chief Investment Officer at Thrive Renewables, recently spoke with our sister site PV Tech About the growing challenges for the British sun sector – read it here.
