Renewable energy investment company Thrive Renewables has entered into a joint venture with TopCashback that they say will help fund the next phase of the UK’s net zero transition.
The partnership with the UK cashback site’s impact investing wing, TopCashback Sustainability will unlock up to £80 million in collaborative capital, which will be deployed over four years to directly fund renewable projects across the UK.
Thrive works with investors and developers to fund, build and operate clean energy projects. The company’s managing director, Matthew Clayton, said: “By working together, we can have a much greater impact—building new clean energy projects that deliver tangible benefits for communities across the UK.
Building on its history of impact investing, working with TopCashback Sustainability means we can increase the number of projects we fund, ultimately helping to accelerate our transition to a cleaner, fairer energy system.”
TopCashback Sustainability’s portfolio includes projects like Highlands Rewilding, which aims to increase biodiversity and green jobs in the Scottish Highlands. It uses funds deposited with Tribe Impact Capital, a wealth manager that helps TopCashback make its impact investments.
Thrive funds battery storage, solar and onshore wind projects. At the beginning of this year, it opened its biggest battery energy storage system (BESS) to date, a 30MWh facility in Bristol with a 1.5-hour duration and an overall 20MW capacity.
It also promotes co-ownership of renewable assets, with the local energy co-operative offered up to 20% in its Bristol BESS.
Solar and battery storage industry partnerships
Recently, AMPYR Distributed Energy inked a £10 million framework agreement with Harvest Green Developments. The agreement allows the two companies to work together to provide long-term power purchase agreement (PPA) financing for businesses seeking to decarbonise their operations. As part of the deal, Harvest Green sold its 1.4MWp solar portfolio to AMPYR.
It also established a strategic partnership with Dowling Energy, committing up to £40 million to Dowling’s solar pipeline in an effort to launch 20MW of solar projects. AMPYR’s commitment will be funded through PPA’s, while Dowling will work with landowners and offtakers to ensure the best possible experience for all involved.
Another real estate company recently entered into a joint venture with low-carbon developer Infraland. Under the name Infrabee, the company will develop a series of solar and battery sites across the UK and Europe.
