Connect with us


Thrive Renewables launches its first ever bond to develop UK renewable energy



Auchtygils wind turbine Thrive Renewables Bond

5-year 5.5% secured bond will provide enough clean energy for 1,350 homes

Thrive Renewables (Buchan) Limited has launched its inaugural bond to help further the development of sustainable energy assets in the UK. Already one of the most widely owned renewable energy companies in the UK, the Thrive Renewables group is actively growing the investment base for the sector by offering a minimum investment of £250. The £3 million raised by this bond issue will enable the group to further invest in new sustainable power initiatives, allowing investors of all types to have a direct stake in the growing domestic renewable energy sector.

While most renewable energy bonds are to finance the construction of new projects, the 5.5% Thrive bond is secured against two operational single-turbine wind farms located close to Strichen in Aberdeenshire with a combined capacity of 1.6 MW. The turbines began operating in 2015 and are expected to generate around 5,570 MWh of power each year from 2016 – enough to power around 1,350 homes each year.[1]

“This bond is a unique opportunity because it offers the chance to combine a financial return with joining the Thrive Renewables community as we tackle natural resource scarcity”, says Simon Roberts, Chair of Thrive Renewables plc. “It also provides an accessible way for investors to contribute to continued growth of renewables in the UK.  We hope that people living close to the wind projects in Strichen will participate in the Bond offer.”

The offer is open to both new investors and existing shareholders and the bonds will be tradable to any willing buyers on a matched-bargain market operated by Ethex, a not-for-profit web-based investment platform.

The two wind farms against which the bond is secured are operated by Thrive Renewables (Buchan) Limited, a wholly-owned subsidiary of Thrive Renewables plc. Both projects are pre-accredited for the UK Government Feed-in Tariff scheme for renewable energy which guarantees an income stream for 20 years.

The five year bond will pay interest of 5.5% gross per year, fixed and payable (net of UK basic rate tax) annually in arrears on 15 July in each calendar year. Payment of interest and repayment of capital is dependent of the continued successful operation of the Auchtygills and Clayfords wind farms. In the event that Thrive Renewables (Buchan) Limited is unable to pay bond interest or repay the capital, bondholders will have no recourse to Thrive Renewables plc.

“Thrive Renewables is one of the most established and widely-owned renewable energy companies in the UK, operating successfully for 20 years under the name of Triodos Renewables”, says Dan Hird, head of Triodos Bank Corporate Finance. “This secured bond issue represents an opportunity for individuals to invest directly in two operational windfarms and combine a financial return with positive environmental impact.”

An investment in Thrive Renewables (Buchan) Limited bonds is not covered by the Financial Services Compensation Scheme. Thrive Renewables (Buchan) Limited’s ability to pay the interest and repay the bonds is not guaranteed and is dependent on the continued successful operation of the Auchtygills and Clayfords wind farms. Thrive Renewables (Buchan) Limited bonds are unquoted securities with fixed repayment dates and although the bonds are transferable, investors should be aware that they may not be able to access their capital during the life of the bond.


Is Wood Burning Sustainable For Your Home?



sustainable wood burning ideas

Wood is a classic heat source, whether we think about people gathered around a campfire or wood stoves in old cabins, but is it a sustainable source of heat in modern society? The answer is an ambivalent one. In certain settings, wood heat is an ideal solution, but for the majority of homes, it isn’t especially suitable. So what’s the tipping point?

Wood heat is ideal for small homes on large properties, for individuals who can gather their own wood, and who have modern wood burning ovens. A green approach to wood heat is one of biofuel on the smallest of scales.

Is Biofuel Green?

One of the reasons that wood heat is a source of so much divide in the eco-friendly community is that it’s a renewable resource and renewable has become synonymous with green. What wood heat isn’t, though, is clean or healthy. It lets off a significant amount of carbon and particulates, and trees certainly don’t grow as quickly as it’s consumed for heat.

Of course, wood is a much less harmful source of heat than coal, but for scientists interested in developing green energy sources, it makes more sense to focus on solar and wind power. Why, then, would they invest in improved wood burning technology?

Homegrown Technology

Solar and wind technology are good large-scale energy solutions, but when it comes to small-space heating, wood has its own advantages. First, wood heat is in keeping with the DIY spirit of homesteaders and tiny house enthusiasts. These individuals are more likely to be driven to gather their own wood and live in small spaces that can be effectively heated as such.

Wood heat is also very effective on an individual scale because it requires very little infrastructure. Modern wood stoves made of steel rather than cast iron are built to EPA specifications, and the only additional necessary tools include a quality axe, somewhere to store the wood, and an appropriate covering to keep it dry. And all the wood can come from your own land.

Wood heat is also ideal for people living off the grid or in cold areas prone to frequent power outages, as it’s constantly reliable. Even if the power goes out, you know that you’ll be able to turn up the heat. That’s important if you live somewhere like Maine where the winters can get exceedingly cold. People have even successfully heated a 40’x34’ home with a single stove.

Benefits Of Biomass

The ultimate question regarding wood heat is whether any energy source that’s dangerous on the large scale is acceptable on a smaller one. For now, the best answer is that with a growing population and limited progress towards “pure” green energy, wood should remain a viable option, specifically because it’s used on a limited scale. Biomass heat is even included in the UK’s Renewable Heat Initiative and minor modifications can make it even more sustainable.

Wood stoves, when embraced in conjunction with pellet stoves, geothermal heating, and masonry heaters, all more efficient forms of sustainable heat, should be part of a modern energy strategy. Ultimately, we’re headed in the direction of diversified energy – all of it cleaner – and wood has a place in the big picture, serving small homes and off-the-grid structures, while solar, wind, and other large-scale initiatives fuel our cities.

Continue Reading


7 Benefits You Should Consider Giving Your Energy Employees



As an energy startup, you’re always looking to offer the most competitive packages to entice top-tier talent. This can be tough, especially when trying to put something together that’s both affordable but also has perks that employees are after.

After all, this is an incredibly competitive field and one that’s constantly doing what it can to stay ahead. However, that’s why I’m bringing you a few helpful benefits that could be what bolsters you ahead of your competition. Check them out below:

Financial Advising

One benefit commonly overlooked by companies is offering your employees financial advising services, which could help them tremendously in planning for their long-term goals with your firm. This includes anything from budgeting and savings plans to recommendations for credit repair services and investments. Try to take a look at if your energy company could bring on an extra person or two specifically for this role, as it will pay off tremendously regarding retention and employee happiness.

Life Insurance

While often included in a lot of health benefits packages, offering your employees life insurance could be an excellent addition to your current perks. Although seldom used, life insurance is a small sign that shows you care about the life of their family beyond just office hours. Additionally, at such a low cost, this is a pretty simple aspect to add to your packages. Try contacting some brokers or insurance agents to see if you can find a policy that’s right for your firm.

Dedicated Time To Enjoy Their Hobbies

Although something seen more often in startups in Silicon Valley, having dedicated office time for employees to enjoy their passions is something that has shown great results. Whether it be learning the piano or taking on building a video game, having your team spend some time on the things they truly enjoy can translate to increased productivity. Why? Because giving them the ability to better themselves, they’ll in turn bring that to their work as well.

The Ability To Work Remotely

It’s no secret that a lot of employers despise the idea of letting their employees work remotely. However, it’s actually proven to hold some amazing benefits. According to Global Workplace Analytics, 95% of employers that allow their employees to telework reported an increased rate of retention, saving on both turnover and sick days. Depending on the needs of each individual role, this can be a strategy to implement either whenever your team wants or on assigned days. Either way, this is one perk almost everyone will love.

Health Insurance

Even though it’s mandated for companies with over 50 employees, offering health insurance regardless is arguably a benefit well received across the board. In fact, as noted in research compiled by KFF, 28.6% of employers with less than 50 people still offered health care. Why is that the case? Because it shows you care about their well-being, and know that a healthy employee is one that doesn’t have to worry about astronomical medical bills.

Unlimited Time Off

This is a perk that almost no employer offers but should be regarded as something to consider. According to The Washington Post, only 1-2% of companies offer unlimited vacation, which it’s easy to see why. A true “unlimited vacation” program could be a firm’s worse nightmare, with employees skipping out every other week to enjoy themselves. However, with the right model in place that rewards hard work with days off, your employees will absolutely adore this policy.

A Full Pantry

Finally, having a pantry full of food can be one perk that’s not only relatively inexpensive but also adds to the value of the workplace. As noted by USA Today, when surveying employees who had snacks versus those who didn’t, 67% of those who did reported they were “very happy” with their work life. You’d be surprised at how much of a difference this could make, especially when considering the price point. Consider adding a kitchen to your office if you haven’t already, and always keep the snacks and drinks everyone wants fully stocked. Doing so will increase morale tremendously.

Final Thoughts

Compiling a great package for your energy company is going to take some time in looking at what you can afford versus what’s the most you can offer. While it might mean cutting back in other areas, having a workforce that feels like you genuinely want to take care of them can take you far. And with so many different benefits to include in your energy company’s package, which one is your favorite? Comment with your answers below!

Continue Reading