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Thrive Renewables successfully raises £3 million to develop UK renewable energy

12-07-2016 |

  • £3 million raised for Thrive Renewables (Buchan) Limited through a secured bond issue
  • Offer closes fully subscribed after just four weeks
  • 89% of the total investment came from individuals investing directly
  • Funds will enable the Thrive Renewable group to invest in new sustainable power initiatives
  • New renewable energy projects being developed include a new windfarm in Scotland
Thrive Renewables (Buchan) Limited, in partnership with Triodos Corporate Finance, has raised £3 million through its inaugural bond to help further the development of sustainable energy assets in the UK. The bond offer launched on 9 May 2016 and due to exceptional demand closed early, fully subscribed after just four weeks. Already one of the most widely owned renewable energy companies in the UK, through the bond issue the Thrive Renewables group has actively grown its investor base and furthered its mission of connecting more people with sources of sustainable energy, with over £2.6 million of the total £3 million raised coming directly from individuals.

The funds raised through the bond issue will be used to repay an intercompany loan with Thrive Renewables plc, thereby enabling the Thrive group to invest in more renewable energy projects. The group has a strong pipeline of projects in the UK and the successful bond issue will enable the development of a 6 MW onshore wind farm in central Scotland, with construction set to begin in2016. Once operational the wind farm is expected to generate 17 GWh of clean, green electricity each year which is enough to power around 4,000 homes.*

"We want to create a community of like-minded investors that will work with us in growing green generating capacity. The level of take up for our first bond issue is yet another indicator that more and more people want to participate directly in creating a healthy and sustainable energy grid,"

said Simon Roberts, Chair of Thrive Renewables plc. "Using these funds to invest further in new renewable energy assets will help us tackle natural resource scarcity and address climate change in the UK, while also helping grow the popular movement towards sustainable living".

Dan Hird, Head of Triodos Corporate Finance added:

"Thrive Renewables is one of the UK’s leading renewable energy companies and we are delighted to have helped them raise capital for new green energy projects, focusing investment into projects that are good for both people and the planet. The proceeds of this capital raise will be vital in ensuring the continued growth of the renewable energy market in the UK ".

*Estimate based on the most recent statistics from the DECC showing that annual UK average domestic household consumption is 4,115 kWh


Notes to editors:

For general enquiries, please contact the Triodos Bank Corporate Finance team:

Huw Thomas: T 0117 980 9593 or investments@triodos.co.uk

For media enquiries please contact the Triodos Bank Communications team:

Ryan Munn: T 0117 311 0291, ryan.munn@triodos.co.uk

About Thrive Renewables (Buchan) Limited

Thrive Renewables (Buchan) was established in 2006 to develop early stage renewable energy opportunities in the UK and is now a wholly owned subsidiary of the Thrive Renewables plc group. The company owns and operates Auchtygills and Clayfords onshore windfarms, two single turbine projects in Strichen, Aberdeenshire with a combined capacity of 1.6 MW which are connected to the grid and have been operational since summer 2015. The two projects are expected to generate around 5,570 MWh of power each year.

About Thrive Renewables plc

Thrive renewables plc is a renewable energy group which develops, constructs and operates a portfolio of renewable energy projects. It was established in 1994 by Triodos Bank and today owns and operates 15 renewable energy projects across the UK. The combined capacity of these projects is 64 MW – enough to power around 44,000 homes. Key to the mission of the group is providing individuals with the opportunity to have a rewarding connection with sustainable energy. The group is owned by a community of around 5,700 shareholders thereby providing a means by which individuals can effectively invest directly in renewable energy generating assets. The Thrive Renewables (Buchan) Limited bond issue fits with the group’s mission to provide individuals with the opportunity to have a rewarding connection with sustainable energy.

About Triodos Corporate Finance

Triodos Bank is one of the world's leading sustainable banks. Its advisory arm, Triodos Corporate Finance, works exclusively with sustainable businesses and has a long track record of advising businesses on raising capital through private placements and retail offers. Over the past five years, Triodos Corporate Finance has raised over £75 million for businesses within the sustainability sector with investments from institutions, charitable foundations, high net worth individuals and retail investors.


Triodos Bank Corporate Finance has published an offer document in cooperation with Thrive Renewables (Buchan) Ltd dated May 2016. Applications can only be made on the basis of, and subject to the terms and conditions and other, the information contained in the offer document and accompanying application pack. Thrive Renewables (Buchan) Limited is a company registered in England (05836406 ). Registered address: Triodos Bank, Deanery Road, Bristol, United Kingdom, BS1 5AS.

This financial promotion has been issued and approved by Triodos Bank NV, incorporated under the laws of the Netherlands with limited liability, registered in England and Wales with branch number BR3012, authorised by the Dutch Central Bank (DNB) and regulated in the UK by the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA). Details about the extent of our regulation by the FCA and PRA are available from us on request. Registered office: Triodos Bank, Deanery Road, Bristol BS1 5AS.

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