Energy firm Vattenfall has revealed that the Pen y Cymoedd Wind Farm Community Fund has helped catalyze £20.1m of community investment in the Welsh Valleys, supporting over 450 local projects and businesses in its first five years Operating.
The fund, launched in 2017 in the Afan, Rhondda, Cynon and Neath valleys, has supported some major success stories in the region with grants, business loans and direct investment, creating or maintaining nearly 200 jobs local within the community. In addition to the £11.2m of funding coming directly from Vattenfall, a further £8.8m was raised in matching funding, giving an additional boost to the local economy.
The fund has also expanded its funding capabilities during the COVID pandemic and local flooding, providing rapid response to support essential organizations locally – safeguarding 67 local jobs.
Run by an independent body that ensures its vision and purpose remain relevant to the interests and needs of the community, funding grants ranging from £280 to £491,869 have been offered to local businesses and community groups.
Berry Jordan, Business and Community Investment Advisor at Vattenfall, said:
“Pen y Cymoedd not only generates fossil-free electricity for hundreds of thousands of homes, it is also beginning to show the sustainable economic opportunity that onshore wind can bring to local communities.
“By helping local businesses start and grow, community groups build resilience, and investing in local facilities, new jobs are created and the fund helps secure additional financing, increasing impacts on the community. ground. We can’t wait to see what’s next. »
Kate Breeze, Executive Director of the Pen y Cymoedd Wind Farm Community Fund, added:
“The fund brings additional and new benefits to the region to stimulate local development. These opportunities that we have been able to support represent a real demand for services, activities and products that the inhabitants, workers and visitors of the territory want to see. Supporting the vision of communities, and as the impact of funding grows, we will continue to work with the community to ensure the fund is community-led, location-based and adaptable to opportunities, issues and challenges. community priorities.