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Thrive Renewables plc (formerly Triodos Renewables plc)

Social performance

up to 31st December 2018

Thrive measures the environmental and social impact of its renewable energy projects alongside financial performance. As well as knowing their investment is good for the environment and helping to support communities close to their sites, Thrive investors, and their families, can engage and be part of this impact. The Thrive website now includes an impact calculator so investors can quickly see the environmental impact of their shareholding.

In 2018, generation was equivalent to satisfying the electricity demand of 42,400 UK homes.

Key Social Performance Indicators (KSPIs)

KSPIs are a measure of how the business is performing on delivering its main social or environmental purpose. Read more

KSPI 1 - Environmental Impact

During 2018, Thrive's owned renewable energy portfolio generated 160,724 MWh (2017: 160,353MWh). The total invested portfolio (i.e. including projects Thrive part own or have helped fund) generated 243,018 MWh (2017: 226,334MWh).

This is equal to avoiding the emissions of approximately 97,061 tonnes of CO2e from the total invested portfolio (up 36.4% on 2017). This translates to 17.7 tonnes of CO2e saving per year per average shareholder. The UK national average of CO2e emissions generated per person is 7.1 tonnes.

KSPI 2 - Educational Impact

Thrive Wind Farm Open Day

Thrive Renewables believes it is essential to engage with communities around project sites, helping groups and individuals to learn more about renewable energy and the sites they live close to.

In September 2018 Thrive hosted a family-oriented public open day on its award winning Drumduff wind farm in West Lothian, Scotland. The 400 guests comprised mainly local residents but also Thrive investors, renewable energy enthusiasts and people who had been involved in the wind farm’s construction and development.

Activities at this free event included the ExplorerDome renewable energy science show; a chance to view inside the turbines and talk to one of the technicians who works on them; an interactive wind farm model prompting discussion on the social, commercial and planning considerations in renewable energy development; fun cycling challenges; ecology information and wind farm themed face painting;

“It has been a fabulous day. An honour to be here and the obvious enthusiasm of so many local people is inspiring. Great to see a wind farm on the site of an open cast mine – the future and progress.”  Alison Johnstone - MSP.

The Explorerdome Show

Thrive has maintained a proactive approach to improving awareness of climate change and the importance of renewables in energy supply. ExplorerDome is a mobile, inflatable dome offering a wide variety of immersive and interactive science experiences. Thrive has commissioned a bespoke renewable energy show aimed at primary school aged children which is linked to curriculum learning around sources of energy, climate change and renewable technologies.

In 2018 Thrive took the ExplorerDome to Blackridge Primary School close to Drumduff wind farm and Avonmouth Church of England Primary School close to the Avonmouth project on 15 June, Global Wind Day. The show aims to enrich curriculum learning around sources of energy, climate change and renewable technologies and routinely proves popular with the teaching staff as much as the pupils.

KSPI 3 - Helping communities to own renewable assets

Thrive Community Energy Funding Bridge

Whilst the number of ‘new’ renewable energy projects available in the market has fallen, the rapid deployment of renewable energy projects over the last decade has on occasions left out communities, communities which wish to play a part in the transition to cleaner sources of energy.

As Thrive’s opportunity to build new projects for its shareholders is currently limited, it considers the next best thing is to use its capital flexibly to allow the migration of assets from commercial ownership to community ownership. The Thrive Community Energy Funding Bridge provides communities with the expertise, funding and certainty required to acquire operational renewable energy projects from commercial owners, then allows the community the time required to raise their own funding to replace Thrive Renewables.

The Community Energy Funding Bridge achieves a number of Thrive's objectives, facilitating the diversification of ownership of renewable energy projects whilst also generating a return for Thrive’s own investors.

 

Common environmental performance indicators (CEPIs)

CEPIs are environmental performance indicators that are common to all businesses, no matter what their main business activity is. Read more

Carbon emissions

During 2018 Thrive Renewables' total renewable energy portfolio generated enough renewable energy to offset approximately 111,600 tonnes of CO2. This Equates to the electricity demand of 11 average UK homes generated per average shareholder.

Community investment

Thrive's Communuty Benefit Payments and Community Benefit Programmes fill a gap between domestic and commercial funding. The impact of this programme is far-reaching, because it provides well-placed information for the local community about both the nearby project and energy-saving measures that could work in their own homes. Because of its success, Thrive have extended the programme into 2018 with £30,600 being funnelled to the Community Benefit Programme.

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