Thrive Renewables Reports Positive Half-Year Results for 2024

Thrive Renewables Plc has announced significant improvements in its financial and operational performance for the first half of 2024. The company reported a 24% rise in operating profit to £7.4 million, alongside an 18% increase in turnover reaching £14.6 million compared to the previous year.

The company has formed a joint venture with TopCashback Sustainability Limited, securing potentially up to £80 million in funding for clean energy projects. Additionally, Thrive is finalizing debt arrangements to obtain a further £17 million in funding, while also planning to raise additional capital in 2025.

Operational achievements include a 10% increase in clean electricity generation, powering 43,037 average UK homes, and significant progress in renewable projects such as a 25-year extension of the Beochlich hydro project in Scotland.