To celebrate Good Money Week – which helps you find sustainable and ethical options for banking, pensions, savings and investments – we’re showcasing our ‘Good Egg’ companies. These are financial providers that can PROVE they make a positive difference the planet and society, as well as their customers. Here we look at Thrive Renewables.
Thrive Renewables, a certified B Corporation, was established more than 25 years ago and now has more than 6,000 investors and £94 million of renewable generation assets under management.
In 2020 Thrive Renewables projects generated almost 150,00MWh of clean electricity, enough to power all the homes in a city the size of Lincoln, and saved 66,689 tCO2e emissions.
Thrive Renewables invests directly in a portfolio of renewable energy and storage projects, contributing to tangible greenhouse gas emission reductions. The company works with developers and communities to build new sources of renewable energy to create a smart energy system fit for the future.
Thrive Renewables issues bonds and/or shares periodically in order to raise money to construct new renewable energy projects. Thrive was awarded a Good Egg mark for its high environmental impact by Good With Money on September 12, 2017. Since then it has gained B Corp status and been awarded ‘Best for the World – Environment’ putting it in the top five per cent of B Corps globally in this category.
What can you get from Thrive Renewables?
Thrive Renewables periodically releases bond offers to raise money for renewable energy projects. As a bondholder you earn five per cent interest a year, with annual interest payments made in arrears.
By owning shares in Thrive Renewables, you can play a role in addressing climate change and natural resource scarcity and at the same time enjoy financial, social, and environmental benefits. Shares are available each month and can be traded via a share auction.
Thrive Renewables operates a diverse portfolio of renewable energy projects. By putting its eggs in several baskets it seeks to reduce the overall investment risk. It looks to invest in projects that use proven technologies, operate on long-term contracts and which, through responsible planning, can have a positive impact on communities and the environment. See Thrive’s latest reports to see how it is achieving its mission and goals for investors.
As with all investments, your capital is at risk.
What’s new with Thrive Renewables?
In August 2021, Thrive Renewables successfully repaid its first ever crowdfunded bond. The Buchan project supported the development and operation of two wind projects in Aberdeenshire.
In September 2021, Thrive Renewables pledged to hit net zero by the end of the decade as part of B Corp’s Climate Collective. Thrive’s wind, solar and hydro projects have saved over 835,000 tonnes of carbon dioxide over the last 26 years, supporting the UK’s journey to net zero. Its direct carbon emissions are already low, at 2.6 tonnes in 2020 – an average individual’s carbon footprint is 10.4 tonnes per year.
In October 2021, Thrive Renewables was named ‘ESG Investor of the year’ at the BusinessGreen Leaders Awards, for its pioneering support for clean energy and innovative funding models.