News / Sustainability
Thrive Renewables looks for ?7.5m investment
Thrive Renewables has launched a new 5 per cent bond offer as it seeks £7.5 million to invest in further sustainable energy projects around the country.
Managing Director of Thrive Renewables Matthew Clayton (pictured) said: “This capital raise will enable us to continue to develop our portfolio and is part of our strategy to widen our investments, including opportunities in wind, solar, energy storage and demand side management solutions, all of which contribute to a cleaner, smarter energy system.
“Our intention is that the bond offer will represent an attractive proposition to established investors, as well as those new investors with an active interest in supporting sustainable energy developments. The right market conditions are in place now. Demand for electricity is increasing, technologies are proven, costs of renewables are falling, the weak pound makes local energy attractive, the Paris agreement has set the green agenda for years to come and public opinion is on the side of renewables.”
Commenting on the appetite for ethical investments, Matthew continued: “Thrive exists to connect individuals with sustainable energy, allowing our investors to contribute directly to change. We sense that people want their money to generate more than just financial returns, there is a lot of interest in positive investments and innovative finance solutions as borne out by recent research and we hope to be able to take advantage of this trend.”
Now independent, the company was established over 20 years ago by ethically minded Triodos Bank, and has more than 5,700 shareholders and bondholders. It has a portfolio of 15 operational energy sites, with more than 87MW of assets under management including the four turbine wind farm in Avonmouth. It claims to generate enough green electricity to power 41,000 homes.
The minimum investment stands at £5 via online channels and £250 via paper applications. The offer is scheduled to close on February 27.
Read more: Sector spotlight: green energy
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