Bristol-based green energy finance firm Thrive Renewables is partnering with the impact investing wing of the UK’s leading cashback site to unlock £80m for projects aimed at funding the next phase of the UK’s net zero transition.
The joint venture with TopCashback Sustainability will make investments over four years in new wind, solar and other renewable assets to clean up the UK energy system, reduce carbon emissions and ultimately help tackle the climate crisis. 
The deal is the latest joint venture for Thrive, which has been funding, building and operating clean energy projects for nearly three decades.
It was one of the UK’s first mission-driven businesses when it founded just over 29 years ago in Bristol by ethical bank Triodos.
Formerly known as Triodos Renewables, it has been fully independent of Triodos since 2016, although the bank retains a major shareholding.
It has a number of existing partnerships, including with European investment funds, renewable energy developers and other investment companies. It recently announced ambitious growth plans, with aims to double its generation capacity over the next five years.
The partnership with Stafford-headquartered TopCashback will allow its sustainability arm to continue building its impact investment portfolio.
This already includes the likes of Highlands Rewilding – a project aimed at re-wilding and re-peopling the Scottish Highlands by increasing biodiversity, green jobs and more – and funds deposited with Tribe Impact Capital, a wealth manager which helps TopCashback make impact investments. 
Established more than18 years ago, TopCashback offers savings and money back on everything its 15m-plus members buy when clicking through its site to more than 6,000 retailers.
Thrive Renewables managing director Matthew Clayton said: “With the government announcing its ambitions to double onshore wind, triple solar and quadruple offshore wind by 2030, we’re delighted to add TopCashback Sustainability to our growing list of joint venture partners.
“Thrive specialises in providing collaborative capital and we believe that, by working together, we can have a much greater impact – building new clean energy projects that deliver tangible benefits for communities across the UK.
“We’re facing an urgent climate emergency and need to see rapid progress if we’re to meet our net zero targets.”
He said by building on its history of impact investing, working with TopCashback Sustainability meant Thrive could increase the number of projects it funded, ultimately helping to accelerate the transition to a cleaner, fairer energy system.
TopCashback CEO and co-founder Oliver Ragg added: ”We are delighted to be embarking on this long-term journey with Thrive, and look forward to seeing what incredible work can be achieved over many years.
“As a company, as well as our mission to ‘Save our Members the Most Money’, we strive to have a positive impact on the wider world. Thinking ahead for our members’ futures means environmental initiatives are more crucial than ever.”
