SSE share price: Company awards over £4.5 million to community projects across UK

on Jul 8, 2014
Updated: Oct 21, 2019
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iNVEZZ.com, Tuesday, July 8: Scottish energy giant SSE Plc (LON:SSE) last week revealed that it invested over £4.5 million in community projects in the last financial year. SSE said that 366 not-for-profit groups received investment funds created through its onshore wind and hydro developments. The bulk of the funds were awarded in Scotland.

In today’s trading, SSE shares were down 0.8 percent at 1,578.00p as of 15:06 BST. The company’s stock has advanced nearly 15.5 percent since the start of the year.
**Partnering with communities**
“Although it’s clear a sum as large as £4.5 million will deliver a positive impact, it’s not simply about the value of our funding, it matters how we do it too,” commented SSE Chief Executive, Alistair Phillips-Davies. “By working with communities in genuine partnership, I believe we can support local decision makers to ensure these funds can go even further and deliver sustainable benefits to the community year after year.”

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The largest grant went to Biggar Museum Trust. It received £650,000 from the Clyde wind farm fund for the construction of a new visitor centre. Another large grant was given to support science, technology, engineering and maths (STEM) studies across Highland schools. Also, more than £1 million worth of awards went to skills and employment projects including a £267,000 grant to an employment programme in South Lanarkshire.

SSE said that for every pound awarded through the programme the recipients raised two more from other sources, raising the overall impact of the funding to £13.5 million.
**Analysts on SSE**
The 17 analysts offering 12 month price targets for SSE have a median target of 1,400p, with a high estimate of 1,735p and a low estimate of 1,176.72p. As of Jul 04, 2014, the consensus forecast amongst 37 polled investment analysts covering SSE advises investors to hold their position in the company. This consensus estimate has been maintained since the sentiment of investment analysts deteriorated on Jun 08, 2010, the FT notes.
**As of 15:11 BST buy SSE shares at 1580.00p**
**As of 15:11 BST sell SSE shares at $1579.00p**

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