Thrive Renewables’ H125 results reflect the expected transition back to normalised electricity prices, with turnover down 35% y-o-y to £9.4m (H124: £14.6m) and gross profit falling 51% to £4.3m (H124: £8.9m). Operating profit declined 50% to £2.9m (H124: £5.7m), while operating profit including investments fell 47% to £3.9m (H124: £7.4m). The margin compression reflects both lower electricity prices and a 4% decline in generation to 57,651MWh, driven by the lowest Q1 wind resource since 2010. Despite near-term headwinds, the company maintains momentum on its target to double capacity by 2028.

Thrive has a 30-year successful track record, funding 45 wind, solar, storage, tidal and geothermal projects across the UK. As at FY24, Thrive managed £114m of assets and, since inception, has raised over £63m from more than 6,000 investors. In 2023, Thrive announced ambitions to double its clean energy generation capacity by 2028, and made significant headway during FY24, adding 81.4MW of new capacity to its development pipeline, plus an additional 35MW of match funded development capacity. To fund this growth, Thrive is seeking to raise £5m through a crowd-raise via Triodos Bank (with c £1.8m raised to date). This share offer is due to close 4 August 2025, with details available on the Triodos Bank website. Edison recently recorded an interview with Thrive’s CEO, Matthew Clayton.