海角视频

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Economic Development

Solar panel firm secures 拢75m from Bristol's Thrive Renewables

The cash will be used to accelerate the roll-out of solar projects for businesses, schools and other organisations

A stock picture of solar panels(Image: Christopher Furlong/Getty Images)

A solar panel business has secured £75m in funding from Bristol-based energy firm Thrive Renewables.

Eden Sustainable, which operates around the 海角视频 including in Exeter and London, said the deal would accelerate the roll out of private wire solar power purchase agreement (PPA) projects for schools, businesses and organisations across the country.

Thrive Renewables has been building and operating renewable energy projects in the 海角视频 for nearly 30 years.

Matthew Clayton, managing director of Thrive, said funding partnerships like the one with Eden Sustainable could help "catalyse the industry". He also said the deal supported the company's own growth plans as it aims to double generation capacity in the next five years.

"We’re excited to be partnering with Eden, a business that closely aligns with our ethos and values, helping fund its expansion plans that could see up to 75MW of new rooftop solar installed," he said. "The clean energy system of the future will need to rely on a number of technologies working together, with private wire projects enabling more renewables to be deployed at a time when access to the grid is at a real bottleneck.”

Scott Burrows, who co-founded Eden Sustainable 10 years ago with Steve Baker, said the combined experience of the two firms would help accelerate the deployment of commercial and industrial solar in support of the 海角视频’s net zero commitments.

"It is fantastically exciting to supercharge this provision by working with Thrive, a brilliant and aligned company, to create real scale, and real impact," he said.

PKF Francis Clark acted as lead advisors to Eden Sustainable on the transaction, including helping to develop a financial model, producing an information memorandum for potential funders, negotiating offers and managing the process through to completion. PKF Francis Clark’s team included Richard Harris, Victoria Smith and George Harold.