Thrive Renewables has formed a joint venture with Better Society Capital, with the new Community Energy Catalyst bringing together £40 million for community-owned wind and solar projects across the UK.
Community Energy Catalyst is now set to support local communities in building their own clean energy infrastructure, or in securing stakes in larger regional renewable energy schemes. It will make investments that range between £0.5-30 million in individual projects that are at least 1MW in size and use proven technologies. This includes onshore and offshore wind, solar PV and hydro-electric.
It will be targeting late-stage development projects where planning consent has already been secured.
Joe Shamash, Investment Director at Better Society Capital, said: “Community energy is a really powerful way to speed up the transition to net zero and build resilience to climate change. This partnership will help communities take a meaningful stake in energy infrastructure, delivering assets and long– term revenues that can be used to address local priorities. We know the UK needs more community energy and we want this to work as a catalyst for growth.”
