thumbnail of Thrive Renewables Bond

Thrive Renewables Bond

Interest rate 5.0% a year
Term 7 years
Total Invested £9.96m
907  investors
Maturity date 31 Mar 2024
thumbnail of Thrive Renewables Bond

What does the company do?

Thrive Renewables has been developing, constructing, and operating a fleet of renewable energy projects in the UK since 1994. You can find out more about Thrive Renewables here.

Thrive Renewables provides investors with the opportunity to contribute directly to a cleaner, smarter energy system, with a community of over 6,000 investors, both shareholders and bondholders from its various investment offers. It owns and operates a portfolio of energy projects across the UK, predominantly wind turbines - you can find an up to date list of its projects here.

Why did the company raise money?

Thrive Renewables raised money through this investment in 2016 to help fund new renewable energy projects in its pipeline. This investment was fully repaid on 28 March 2024.

How is the company making an impact?

Thrive Renewables is helping to increase the amount of renewable energy used in the UK’s electricity grid as we transition to a 100% low carbon energy future.

The Randonmoor Wind Farm, located in the Fens of Cambridgeshire
The Randonmoor Wind Farm, located in the Fens of Cambridgeshire

Key terms

Issuer Thrive Renewables
Return 5.0% a year
Term period 7 years
Start date 1 April 2017
Maturity date 31 March 2024
Capital repayment Lump sum on maturity
Amount raised £9,962,191.27
Return structure

Interest is paid annually on 31 March each year, with the capital repaid on the maturity date.

Secured or unsecured Unsecured
Early repayment options

The company has the option of repaying the investment early on any day from 31 March 2022, subject to paying interest up until the point of repayment.

See the Debenture Deed for details of all circumstances in which the option for early repayment may be exercised.

Documents

Bond instrument
Download PDF The bond instrument sets out the legal agreement and terms for this investment.

Payment schedule

This table gives a breakdown of what was paid back on this investment, based on an example investment of £1,000.

Payment schedule table
Payment date Capital repayment Interest Total
31 March 2017 £0.00 £13.01 £13.01
29 March 2018 £0.00 £50.00 £50.00
1 April 2019 £0.00 £50.00 £50.00
31 March 2020 £0.00 £50.00 £50.00
31 March 2021 £0.00 £50.00 £50.00
31 March 2022 £0.00 £50.00 £50.00
31 March 2023 £0.00 £50.00 £50.00
2 April 2024 £1,000.00 £50.00 £1,050.00
Total £1,000.00 £363.01 £1,363.01

Updates

These updates tell the story of the investment over its life and include information reported to investors by the company or council behind the investment. The updates are provided for informational purposes only and do not constitute an inducement or invitation to invest. Information provided at the time of publishing may no longer be accurate.

This investment has made its last repayment and is now fully repaid and matured.

Please read the full update here

Dear bondholder,

Thrive Renewables Annual Report 2022

Thrive Renewables’ 2022 Annual Report is now available to view on our website: https://www.thriverenewables.co.uk/documents.

In what was a record-breaking year for UK wind power, we generated 133,858 MWh of clean electricity, enough to power 38,000 homes, as well as delivering 58,314 tonnes in carbon emissions reductions. We’re pleased to report an operating profit of £6.7 million with a turnover of £17.5 million. A total of £11.4 million has been allocated to fund new clean energy projects and Thrive’s assets under management now total £110 million.

Annual General Meeting

We are delighted to invite you to our 2023 AGM. This year, the event will be held at The Foundation on St George’s Road in Bristol. We encourage you to attend the event in person and benefit from a visit to our new Feeder Road battery project, but if you prefer it will be possible to take part online via the meeting website. Bondholders are invited to join at 2pm after the official business is concluded to hear the management presentation. This will be followed by a presentation from our Chair, Jo Butlin. Jo will be speaking on the UK’s energy transition using her wealth of experience in delivering growth in a range of energy enterprises.

Fundraising

In 2022 we were pleased to raise £6.8 million in an equity crowdfund to finance new solar, battery storage and onshore wind projects. We were delighted to welcome hundreds of new shareholders, bringing our total number of investors to over 7,000. With ambitious plans for growth, we expect there will be further opportunities to invest in Thrive Renewables, including a refinance of the Thrive Renewables PLC bond which is due in March 2024.

AGM – next actions

To confirm your place at the AGM, please email info@thriverenewables.co.uk or phone 0117 428 1850 by 5 June 2023. It would be very useful if you could indicate whether you plan to attend in person or virtually.

We look forward to seeing many of you again in person at our 2023 AGM in Bristol and welcoming those attending online.

Yours sincerely

Matthew Clayton

Managing Director, Thrive Renewables Plc

Please read the full update here

An investment return from Thrive Renewables Bond was paid today.

Please read the full update here

Please read the full update here

An investment return from Thrive Renewables Bond was paid today.

Please read the full update here

Please read the full update here

Please read the full update here

An investment return from Thrive Renewables Bond was paid today.

Please read the full update here

Please read the full update here

Please read the full update here

Please read the full update here

Please read the full update here

An investment return from Thrive Renewables Bond was paid today.

Thank you for continuing to invest in cleaning up the UK's electricity system via the Thrive Renewables bond. Thrive has been enabling individuals to deliver progress and impact by investing directly in wind, solar, hydro and renewable heat projects for 25 years. Thanks to our community of over 6,000 investors like you, we have successfully built or funded a total of 22 renewable energy projects.

The whole country is facing exceptionally challenging times due to COVID-19. The wellbeing of our team, contractors, suppliers and the wider community is of course an absolute priority for Thrive. We are operating business as usual; our wind and hydro projects are part of critical national infrastructure and the ongoing routine operation of these is our primary focus. Office-based staff are working remotely and we continue to develop our pipeline of new renewable energy projects where it is responsible to do so.

Looking forward, we’re investing in more new clean energy capacity for the UK. Specifically, over the last few months we have:

  • Committed up to £6.5 million to construct the UK’s first geothermal electricity power plant in Cornwall – which will generate renewable electricity and heat using natural energy from deep below ground.
  • Acquired a new windfarm site in South Ayrshire in Scotland, with planning for three turbines. Initial groundworks have commenced – once it is operational, we intend to supply clean electricity to both a local business and the grid.

For more information on the progress of our new investments and insight on the UK’s energy transition, sign up to our newsletter here.

An investment return from Thrive Renewables Bond was paid today.

Your money continues to work hard delivering environmental and social impact. In fact, two of the projects you helped to finance have won awards recently:

  • - Drumduff, a new three turbine Wind Farm near Edinburgh built on the site of an old open cast coalmine, won a Scottish Renewables Sustainable Development award.
  • - Thrive's Community Funding Bridge, which enables local people to take ownership of renewable energy projects in their locality, won the Community Energy England Innovative Finance Award 2018 with the Mean Moor community wind farm in Cumbria.

As our industry matures and continues to prove itself, valuations for operational wind farms have increased significantly. This led us to the decision to sell two wind farms in February, releasing £11 million to invest in new renewable energy capacity and delivering a 40p per share interim dividend to our shareholders. The two sites will continue to deliver clean energy to the end of their working lives and local benefits and agreements that we put in place for the host communities will remain in place. So we're all set now to invest in the next phase of the renewables revolution.

Click here for the latest Thrive Renewables news.

Please read the full update here

Please read the full update here

An investment return from Thrive Renewables Bond was paid today.

Please read the full update here

Please read the full update here

This payment did not cover a full year and only covered the period from 9 December 2016 (the first close date). Future payments cover a full year.

This investment closed today.

Thrive Renewables Bond opened for investment today.