Thrive Renewables and Bristol Energy sign wind supply deal

Thrive Renewables has signed a fresh deal with Bristol Energy. The company, which is also based in Bristol, has agreed to provide 0.8MW of renewable wind power to the council-owned company.

Bristol Energy has purchased the renewable electricity produced by Thrive’s Clayfords windfarm 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.

The 0.8MW site, which is part of Thrive’s nationwide renewable project portfolio of 21 sites, 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.

The deal follows a similar agreement between the two companies for hydro-electricity in the winter of 2017 and sees the two “values-driven companies” strengthen their partnership.

Renewables now accounts for an estimated 60 per cent of the energy supplied by Bristol this year, up from 40 per cent in 2017.

Simon Proctor, origination manager at Bristol Energy, said: “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.”

Utility Week reported that the company, which currently supplies more than 76,000 homes across the UK, received a £2 million investment from its local authority parent Bristol council last week.

The deal with Thrive Renewables was completed on e-POWER, an online auction, which enables independent renewable energy generators to sell clean electricity to utilities.