Thrive Renewables is a privately owned UK-based renewable energy company that has been pioneering sustainable clean energy generation projects for over 30 years. The company’s diversified portfolio consists of 33 sustainable energy projects across the UK, with a total capacity of around 142MW. The portfolio spans multiple technologies, including onshore wind, solar, hydropower, battery storage and the UK’s first deep geothermal electricity generation project. The company has built its portfolio by bringing together individuals, communities and businesses to create diverse operational clean energy projects. Thrive has grown its investor base to more than 6,000 individuals, institutions and organisations, delivering impressive growth from its organic cash generation as well as capital raised in the primary market. Its shares trade on the JP Jenkins share-matching platform. Thrive manages assets worth £129m (as at FY23) and continues to expand its operations, having brought 25MW into operation in 2023 alone, and 41.5MW into development and construction.
There are five key reasons why Thrive Renewables represents a compelling investment case:
First, Thrive delivers highly efficient renewable energy projects, which create a positive social and environmental impact. In FY23, the company’s impact portfolio generated 136,316MWh of renewable electricity, while reducing emissions by 58,620tCO2e. An example of Thrive’s innovative approach is its investment in Lawrence Weston in Bristol, where it provided £4m in funding to enable Ambition Community Energy, the social enterprise that owns the turbine, to construct England’s largest onshore wind turbine, standing at 150m with a 4.2MW site capacity. This highlights the company’s ability to deliver both scale and community integration in its projects.
Second, the company employs a sophisticated risk management strategy. Thrive manages exposure to energy price volatility through a strategic mix of short- and long-term power purchase agreements (PPAs), private wires and forward price fixing up to 24 months in advance. Notably, approximately 70% of Thrive’s FY23 revenue was fixed, providing significant stability. The company’s PPAs are commercial agreements, with the majority of its projects having qualified feed-in tariffs and renewable energy certificates, which are both government-backed and inflation linked.
Third, Thrive has demonstrated high growth in profitability in recent years, with the company recording £13.6m in operating profit for FY23, doubling from £6.7m at FY22, and H124 results show continued strong momentum at £7.4m. This growth is underpinned by Thrive’s success in securing power prices above spot rates and its ability to lock in favourable terms in its PPAs. The company’s dividend policy consisted of a 12p per share dividend payment for FY23, representing a yield of approximately 5.5% based on recent trading prices.
Fourth, the company is well-positioned for accelerated growth through strategic partnerships. It has recently entered into a joint venture with TopCashback Sustainability, potentially bringing up to £80m, split equally, in collaborative capital over four years. In December 2024, Thrive acquired the development rights for its biggest project to date, a 14-turbine, 57MW onshore wind farm in Scotland. The deal marks a significant step in the company’s ambitious growth plans to double its generation capacity within the next five years. Construction is expected to start in 2025, with commissioning planned by the end of 2026.
Finally, Thrive benefits from an improving regulatory environment in the UK. Recent government planning reforms are making renewable energy infrastructure development easier, with amendments to the National Planning Policy Framework favouring renewable projects. The lifting of restrictions on onshore wind farms in England particularly benefits Thrive, given its strong track record in community-focused development projects.
Thrive Renewables, therefore, represents a compelling investment case, as a company that is creating a cleaner future today, through building new sustainable energy projects that have a real impact in the communities it works with.
Published 24 February 2025.
