The Thrive Renewables fund has raised £7.7 million in four weeks to build
two new onshore windfarms in Scotland with a combined capacity of
11MW. Once built, these will be able to generate enough electricity for
more than 8,500 homes.
In addition, Bristol-based Thrive has a pipeline of 20MW of new wind
projects and 15MW of solar PV which will include both community ground
mounted and commercial roof sites.
More than a third of Thrive’s existing portfolio is in Scotland, including
a major contribution to the construction of a three turbine, 7MW wind farm
near Kirkcaldy and a 50% a share in a three turbine, 6MW wind farm
development in West Lothian.
More recently Thrive’s ‘Buchan Bond , secured against two wind farms
developed and built by Thrive in Strichen was the company’s fastest selling
bond ever and the second fastest bond offer to reach target on the positive
investment savings platform Ethex.
Just seven per cent of Thrive investors are domiciled in Scotland.
The bond, issued by Thrive Renewables plc on an unsecured basis, will pay
5% gross interest per year with capital repaid in March 2024. Payment of
interest and repayment of capital is not guaranteed and is dependent on the
continued successful operation of the Thrive business model.
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