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Michelmores is pleased to announce that it has advised Thrive Renewables Plc on its new share offer to support its aim to double the amount of renewable energy generation capacity in its portfolio over the next five years.
Thrive has been funding, building and operating clean energy projects for almost thirty years and this new investment will enable the company to build new onshore wind, solar, geothermal and battery storage projects. The company aims to help to transform the UK’s electricity system, reducing its reliance on imported fossil fuels and ultimately aiming to reduce household bills.
This share offer is promoted by Triodos Bank UK through its crowdfunding platform and aims to raise the first £2 million for Thrive Renewables as part of a wider fundraising campaign to raise £10 million in the next six months and a total of £50 million by 2028. It builds on a successful £6.8 million crowdfunding raise in 2022.
Michelmores is proud to have worked with Thrive since 2016. So far, Thrive has raised £58 million from a community of over 6,000 Shareholders and 1,000 bondholders and manages over £110 million of assets.
The Michelmores team advising on the deal was led by Corporate Partner Alexandra Watson, alongside Senior Associate Adam Quint and Trainee Solicitor Sena Guvercin.
Alexandra Watson comments on the transaction: “We are incredibly excited to see how Thrive is transforming and enriching its renewable energy generation capacity for the good of our planet and our communities, and we look forward to continuing to support its journey and ambition. Sustainable forward-thinking is embedded within our culture at Michelmores and, as a responsible business, we are proud to share, to inspire and to be part of that vision with Thrive.”
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