Thrive Renewables has sold two onshore wind farms in a bid to target investments in C&I solar.
The multi-million-pound sale to infrastructure fund manager Equitix will enable Thrive to invest up to £11 million in new renewable projects, including small to medium commercial scale solar, wind, and hydro energy.
Managing director of Thrive, Matthew Clayton, said the company intends on continuing to deliver “cost-effective clean energy projects in the UK that reduce carbon emissions, improve our air quality and deliver returns to our shareholders.
“Our mission is to power the transition to a sustainable energy future by providing people with a rewarding connection with clean energy projects and this deal is an important part of that.
“We are actively enabling shareholders to realise some of the gains that their assets have achieved, while also freeing up money to invest in new renewable energy capacity and increase the positive impact of our business,” Clayton continued.
A number of investors are turning to the C&I solar market given the sector’s potential to deliver stable returns.
Last week Zestec Asset Management announced a £20 million partnership with established solar investor NextEnergy Solar Fund specifically targeting the commercial rooftop solar market, while investment major Macquarie has backed commercial rooftop solar deployment projects for retail giants Amazon and Tesco.