Newtown finance company Robert Owen Community Banking have won the Impact Award at this year’s Citi Microentrepreneurship Awards hosted by Responsible Finance.
Through its partnership with Powys County Council, ROCBF is providing Powys households with zero interest finance for renewable energy installations.
The Newtown firm is not only helping to make Powys homes more energy efficient but is also generating and retaining money in the local economy.
Mick Brown, CEO said: “This shows that switching to renewables and reducing energy consumption is good for the environment but even better for our local economy. Local trades have benefitted significantly from the zero interest finance available to householders across Powys.
“Powys based renewable energy installers, builders and energy efficiency specialists are all playing their part in growing our local economy while reducing our carbon footprint.”
The Citi Microentrepreneurship awards recognise the economic and social impact of responsible finance providers on the people and places of Britain, and champion the outstanding microentrepreneurs who are creating jobs, services and prosperity in their communities.
Responsible Finance commented: “Through its diverse investment activities in Wales. Robert Owen Community Banking helps communities develop energy schemes in the lowest income areas of Wales. In three years, it has lent £957,000 to 25 pilot schemes, leveraging £17 million of construction investment.
“The community energy schemes operating thanks to Robert Owen Community Banking generate enough energy to power 5500 homes, saving almost 6 million tonnes of CO2 emissions per month compared with the standard UK electricity generation mix.”