11 March 2025 – Renewable energy investment company, Thrive Renewables plc, has formed a strategic joint venture with the UK’s leading social impact investor, Better Society Capital, to mobilise £40 million for community-owned wind and solar projects across the UK.
The new initiative, Community Energy Catalyst, will support local communities to build their own clean energy infrastructure or secure stakes in larger regional renewable energy schemes. Fair Play Clean Energy, Thrive’s existing joint venture with Top Cashback Sustainability Ltd, will provide £20 million of the investment, with Better Society Capital providing matched funding.
Community Energy Catalyst will make investments ranging between £0.5 million to £30 million in individual projects which are at least 1MW in size and employ proven technologies such as onshore and offshore wind, solar PV and hydro-electric. The joint venture will target late-stage development projects that have already secured planning consent, enabling them to advance through to construction, commissioning and operation while aligning with local objectives.
As well as funding, Thrive Renewables will bring 30-years of experience financing, building and operating clean energy projects in the UK and provide support to community energy groups during key milestones such as procurement and grid connection.
As a pioneer in community energy finance, Thrive created its award-winning Community Energy Funding Bridge back in 2017, which was the first of its kind. To date, the company has invested over £21 million into seven community energy projects, including £4 million to build England’s largest onshore wind turbine, which is 100% owned by the community in its home city of Bristol.
Matthew Clayton, Managing Director of Thrive Renewables, said: “We’re thrilled to be partnering with Better Society Capital, bringing over 30 years’ of industry experience together with unrivalled social impact expertise to unlock the tremendous potential of community energy. The partnership addresses a critical gap in the UK's renewable energy landscape, empowering local communities to take ownership of their energy future while delivering substantial economic and social outcomes. Community Energy Catalyst isn't just about building renewable infrastructure — it's about putting people at the heart of the clean energy transition.”
Joe Shamash, Investment Director at Better Society Capital, said: “Community energy is a really powerful way to speed up the transition to net zero and build resilience to climate change. This partnership will help communities take a meaningful stake in energy infrastructure, delivering assets and long-term revenues that can be used to address local priorities. We know the UK needs more community energy and we want this to work as a catalyst for growth."
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Notes to editors
About Thrive Renewables Plc
Thrive Renewables is a renewable energy investment company that has been funding, building and operating renewable energy projects in the UK for 30 years.
The company’s operational portfolio currently consists of 24 projects, plus further renewable energy projects in development. With assets under management of £129 million in 2023, its portfolio generated over 136,000 MWh of clean electricity in 2023, delivering emissions reductions equivalent to 58,620 tCO2e.
Vision: We believe in the power of together. A world where everyone can be part of the clean energy generation.
Mission: Putting money to work building new sustainable energy projects and empowering people to take action to address the climate emergency.
Case studies:
- England’s largest, 100% community owned onshore wind turbine – Ambition Community Energy
- Facilitating shared ownership with Bristol Energy Cooperative – Feeder Road battery project – shared ownership with Bristol Energy Cooperative
Press Contact:
Alex Lomax, Communications Manager
alex.lomax@thriverenewables.co.uk or 0752 105 1204
About Better Society Capital
Better Society Capital is the UK’s leading social impact investor. Our mission is to grow the amount of money invested in tackling social issues and inequalities in the UK. We do this by investing our own capital and helping others invest for impact too.
Since 2012, we have helped build a market that has directed more than £10 billion into social purpose organisations tackling issues from homelessness and mental health to childhood obesity and fuel poverty, a twelve-fold increase in 12 years.
Press Contact:
Ian Young, PR and Media Officer
E: iyoung@bettersocietycapital.com
Lauren Rae, PR and Communications Manager
E: lrae@bettersocietycapital.com
T: 07464 799565