THE community in Blaenau Gwent will soon be able to invest directly in low-carbon energy and infrastructure projects in their area.

Blaenau Gwent County Borough Council is to launch a new Community Municipal Investment (CMI) scheme, focussed on raising money to pay for energy projects.

A CMI is a relatively low risk bond or loan issued by a local authority directly to the public via an internet based crowdfunding platform.

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The bonds are issued to residents and investors from Blaenau Gwent who would eventually receive a percentage return on their investment.

The benefits of this CMI bonds are:

• Opportunity for the public to invest in low carbon measures.

• Job creation in low carbon industries.

• Access to low carbon energy for businesses and communities.

• Help support the delivery of low carbon and reduce the carbon footprint for the area as highlighted in the Blaenau Gwent Decarbonisation Plan.

• Has the potential to assist the council realise its ambition to be a carbon neutral organisation by 2030.

Councillor David Davies, the council's executive member for regeneration and economic development, said: "I am excited that by developing this type of investment.

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"It shows our ambition as an innovative council as we aim to deliver quality services that matter to our communities. It will also protect and enhance our environment and infrastructure, whilst benefitting our communities through the development of low carbon local energy."

Details of how to apply will be announced in due course.