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Bristol-based Thrive Renewables has launched a new £5 million bond offer on the crowdfunding platform of ethical bank Triodos, which is also headquartered in the city.

Renewables firm launches crowdfunder to construct two new wind farms

Bristol-based Thrive Renewables has launched a new £5 million bond offer on the crowdfunding platform of ethical bank Triodos, which is also headquartered in the city.

The finance raised will contribute to the development and construction of two new wind farms in Scotland and Wales, and provide funding to enable communities to build and own their own local projects.

Thrive is a certified B Corp with a 30-year track record in delivering new clean energy projects and providing opportunities for communities to own wind and solar farms in their neighbourhood.

Over three decades, the organisation – which is backed by over 6,000 investors – has raised more than £63 million via crowdfunding and helped finance 45 wind, solar, hydro, storage, tidal and geothermal projects, including six that are community owned.

This new bond offer will allow investors looking for both a financial and social return to back new renewable energy projects that help tackle the climate emergency and support local communities.

The five-year bond will have a low minimum investment of £25, paying 5.5 per cent gross interest per year. Interest payments and repayment of capital are not guaranteed.

The crowdfunder will raise support the development and construction of two new wind farms.

These include a wind farm at Whitelaw Brae in the Scottish Borders, which – with 14 turbines and 57MW capacity – is Thrive’s biggest project to date.

Once operational, it will be capable of generating up to 149,400 MWh of clean electricity per year, the equivalent of powering around 45,000 average UK homes, and delivering 65,300 tonnes of carbon dioxide emissions reductions annually.

The finance will also be used to fund development of the Abergorki wind farm in Rhondda Cynon Taf, South Wales.

The three-turbine project is expected to begin operating in 2027 and will be capable of generating up to 40,000 MWh of clean electricity per year, the equivalent of powering over 12,400 average Welsh homes.

Matthew Clayton, CEO of Thrive Renewables, said: “For thirty years we’ve been proving that people-powered investment can accelerate the UK’s transition to clean energy.

“With this new bond, investors will be directly enabling the construction of two major wind farms, alongside strengthening the community energy movement we’ve championed for decades.

“We know many people are looking for ways to take meaningful climate action, and this offer gives them the chance to do exactly that – backing real projects, delivering real impact.”

Triodos Bank UK has worked with Thrive on multiple share offers and bond raises, bringing opportunities for values-led investors to support the energy transition.

Whitni Thomas, head of corporate finance at Triodos Bank UK, added: “Values‑led investors want opportunities that combine strong climate impact with a transparent, mission-driven approach.

“By helping finance two new onshore wind farms and further community energy initiatives, investors will be contributing to the kind of systemic change the UK urgently needs.”

Image: Whitelaw Brae by I&H Brown

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29.04.2024

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