Thrive Renewables has obtained £10 million in financing from Triodos Bank UK to support the development of new clean energy projects across the United Kingdom, the companies said on Wednesday.
The funding will be used to advance a range of initiatives, including new onshore wind farms, solar energy developments, and community-owned renewable energy schemes. It will also contribute to repowering existing infrastructure to extend operational lifespans.
“Thrive exists to tackle the climate emergency, bringing together investors, developers, businesses and communities to fund, build and operate clean energy projects,” said Matthew Clayton, CEO of Thrive Renewables. “With an exciting pipeline and projects progressing in construction, it’s great to be able to put this money to work straight away.”
The loan is part of Thrive’s blended finance strategy, which combines debt funding with equity investment. The company has raised over £1.8 million through a current share offer hosted on Triodos Bank’s crowdfunding platform, allowing retail investors to participate in its growth.
Triodos Bank UK, known for its focus on socially and environmentally driven finance, said the partnership aligns with its mission.
“We really like what Thrive is doing. By allowing everyday investors to play a part in the systemic shift happening in the UK energy system they are engaging people in positive climate solutions,” said Norrie Cruickshank, senior relationship manager at Triodos Bank UK.
Thrive has been active in the UK renewables sector for more than three decades, supporting 45 projects in wind, solar, hydro, tidal, storage, and geothermal energy. Its portfolio includes six community-owned ventures and backing for the United Downs geothermal project in Cornwall.
The company expressed support for the UK government’s renewable energy targets for 2030, which include doubling onshore wind, tripling solar, and quadrupling offshore wind capacity. Thrive is participating in the finance working group of the government’s onshore wind taskforce.
