Bristol companies sign clean energy deal
Thrive Renewables will provide 0.8MW of renewable wind power to Bristol Energy, after the two Bristol-based companies agreed a deal.
9th August 2018 by Networks
Matthew Clayton at Thrive said: “Thrive exists to offer individuals a rewarding connection with sustainable energy, so having the opportunity to provide our renewable power to a company like Bristol Energy, with similar values to us is extremely rewarding.
“Deals – such as this one – with independent renewable energy providers enable an increasing pool of people to benefit from affordable, green electricity in their homes.”
Bristol Energy purchased the renewable electricity produced by Thrive’s Clayfords Wind Farm near Strichen in Aberdeenshire, Scotland for 12 months from September 2018. The single-turbine site will deliver approximately 2.26GWh of clean energy to around 564 homes over the course of the contract .
Thrive owns the 0.8MW site as part of their nationwide renewable project portfolio of 21 sites. The project was built in 2015 and qualifies for the government’s renewable energy feed-in-tariff (FiT) subsidy. The project was funded by Thrive with a crowdfunded bond raise in 2016.
Bristol Energy supplies more than 76,000 homes across the UK and is actively growing the amount of renewable energy in its portfolio year on year. Renewables accounted for 40% of its energy supply after its first year in 2017, which it has increased to an estimated 60% this year. The company has achieved this substantial growth by working with renewable energy generators, like Thrive, through power purchase agreements (PPAs).
Simon Proctor, origination manager at Bristol Energy, added: “Deals like this help us to offer even more green energy to our customers, at a competitive price – making renewable energy more accessible for everyone.
“Thrive is a well-established, trusted partner. The fact that they are local and funded by a community of 6,250 investors – many of whom live in Bristol and South West – is another way that we can support out city, and boost the circular economy.”
The deal was completed on e-POWER, an online auction, which enables independent renewable energy generators to sell clean electricity to utilities.
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