Energy company Vattenfall said its the Pen y Cymoedd Wind Farm Community Fund has directly, and through leverage, provided £20.1m of community investment in the South Wales Valleys.
The fund has supported more than 450 local projects and businesses in its first five years of operation. Its funding is ringfenced from revenues generated from its Pen y Cymoedd windfarm, which has 76 turbine that produce enough green energy to power 188,000, which become operational in 2017. The windfarm is located between Neath and Aberdare and represented and investment of £200m Swedish state-owned Vattenfall.
The fund, which covers the Afan, Rhondda, Cynon and Neath Valleys, has provided grants, business loans and direct investment, creating or safeguarding almost 200 local jobs within the community. In addition to the £11.2m in funding directly from Vattenfall, a further £8.8m leveraged in match funding.
