- Thrive Renewables offers Bristol Energy Cooperative up to 20% investment in its new 20MW/30MWh battery energy storage project.
- This is the first time the owner of a commercial standalone battery storage project has offered the local community the opportunity to co-own the asset.
British renewable energy investment company Thrive Renewables is offering Bristol Energy Cooperative up to 20% investment in its new 20MW/30MWh battery energy storage project, in a first for co-ownership. Residents can own a share of the Feeder Road battery in Bristol, which the company acquired in March 2021 and is currently being commissioned.
According to the company, this is the first time the owner of a commercial standalone battery storage project has offered the local community the opportunity to co-own the asset. Matthew Clayton, managing director of Thrive Renewables, “Thrive was set up nearly 30 years ago to power the UK’s clean energy transition by connecting people to clean energy, offering co-investment to community groups helps us deliver that. To ensure a just transition, we need the benefits of renewables to be local, allowing everyone to access cleaner energy, cheaper bills and new green jobs.”
Managing director of Thrive Renewables, Matthew Clayton, said, “Battery storage is a critical technology for the UK to reach net zero, storing electricity when renewable power is abundant and making it available during peak times when consumption is at its highest. We’re thrilled to work with the local community on this project, which supports the UK’s net zero goals and Bristol’s ambition to become a carbon-neutral city by 2030.” Andy O’Brien, co-director at Bristol Energy Cooperative, said, “Community energy gives people agency to take practical action on climate change in their local community. This project is a perfect example of how the community coming together can bring about real change. People power fought off a highly-polluting diesel scheme and replaced it with the storage technology we need to help us go net zero.”