Welsh Government doubles Green Business Loan Scheme to £20m
Welsh Government doubles Green Business Loan Scheme to £20m
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The Welsh Government has confirmed a £10 million increase to the Green Business Loan Scheme, extending the programme to £20 million with funding available until 2028.
The scheme, which offers discounted-interest loans to help companies improve energy efficiency and decarbonise operations, has already supported more than 30 Welsh businesses. Collectively, these projects are forecast to deliver carbon savings of more than 28,000 tonnes over their lifetimes.
One recent beneficiary is Mold-based Thorncliffe Building Supplies, which secured a £3.2 million loan to invest in a new wash plant and water treatment system. The investment will reduce the company’s reliance on landfill. Thorncliffe’s Managing Director Tim Harper, pictured with his dog Bear and Senior Investment Executive Scott Hughes, welcomed the funding as part of the firm’s wider sustainability drive.
Bethan Cousins, New Business Director at the Development Bank of Wales, 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.”
The increased funding is expected to broaden access for Welsh companies looking to reduce costs and improve sustainability in the face of rising energy demands and climate change pressures.
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