The Welsh Government have announced that they have added £10 million to the Green Business Loan Scheme launched in March 2023 and that it will now run until 2028. According to the Welsh Government over 30 businesses have benefited from the scheme which is administrated by the Development Bank of Wales. The Government claim that this will lead to saving 28,000 tons of carbon being released into the atmosphere over the lifetime of the project.
Among those businesses who have benefited from the scheme are Thorncliffe Building Supplies from Mold, who received a loan of £3.2 million in order to invest in a water treatment system as well as new wash plant in order to reduce the companies dependence on landfill sites. The company employ 265 people across 5 sites in North Wales.
In a statement the Managing Director of the company, Tim Harper, said:
“We are constantly evolving as a business to diversify and strengthen our customer offering while remaining compliant with regulatory and legislative requirements.
Reducing waste and cutting our carbon emissions is a key priority for us hence our decision to invest in a new washing plant. This will allow us to process our construction waste and sub-soil on-site rather than use landfill.
The facility will wash and sort the waste into different grades of aggregates that can then be re-sold so it’s a win-win all round.”
Cabinet Secretary for Economy, Energy and Planning, Rebecca Evans, said:
“This £10 million extension to the Green Business Loan Scheme demonstrates the Welsh Government’s commitment to supporting businesses on their journey to net zero. We are ensuring even more firms can access the support they need to reduce their carbon footprint while strengthening their competitiveness.
With over 30 businesses already benefitting and forecasted carbon savings of more than 28,000 tonnes, there is clearly a strong appetite for sustainable innovation amongst Welsh enterprises who are supporting our ambition to grow the economy.”
Bethan Cousins is New Business Director for the Development Bank. She said:
“The success of the Green Business Loan Scheme is a testament to the ambition and innovation of Welsh businesses in tackling climate change.
Thorncliffe is a great example of how the scheme is helping businesses across Wales to ‘invest to save’ by providing loans with discounted interest rates to make energy efficiency improvements and implement decarbonisation initiatives.
This further investment from Welsh Government will ensure we continue driving meaningful change, supporting businesses of all sizes to adopt technologies that reduce emissions and strengthen energy resilience.”
You can find more information about the scheme by following this link to the Development Bank of Wales’s website.
