Business
Pembrokeshire businesses benefit as Development Bank reaches £1bn milestone
MORE than 1,399 firms across Mid and West Wales have received over £460 million to help them start up and scale up, as the Development Bank of Wales confirms it has now passed a landmark £1 billion in investment since its creation in 2017.
Supported by the Welsh Government, the Development Bank says £323.4 million has been invested directly into Mid and West Wales businesses, unlocking a further £143.2 million in private sector co-finance. The bank’s total investment programme has supported 51,089 jobs and generated £5.8 billion in economic value across Wales.
Since 2017, a total of 4,699 companies throughout Wales have benefited from 5,184 investments. This includes £89 million for 292 innovative tech ventures and £275 million for Welsh property developers, helping to build 2,302 new homes.
Pembrokeshire is among the counties that have seen direct, tangible benefits. Rum producer Barti received a £200,000 investment from the Development Bank and a £27,000 loan from the Pembrokeshire Lottery to expand production. The funding was provided through the £500 million Wales Flexible Investment Fund.
Narberth-based Wild Lakes used a £40,700 Green Business Loan to move to solar power via the Welsh Government-backed scheme, helping the business reduce its carbon footprint.
Barti Director Jonathan Williams said: “This is the golden quarter for our industry, so it was important that we had the working capital required to purchase the stock needed to fulfil the increasing demand from Tesco and Co-op customers. We are also excited to be developing new products as well as exploring export opportunities for our product range.”
Mark Harris, co-founder at Wild Lakes, said: “As an outdoor business in one of Wales’ most impressive natural environments, our environmental impact is at the forefront of everything we do. The support we had from the Development Bank meant we were able to switch from older forms of power to new, cleaner energy, and gives us the infrastructure we need to make similar improvements in future.”
Welsh Government Cabinet Secretary for Economy, Energy and Planning, Rebecca Evans, said: “If companies are to grow, it’s vital they can access finance. Since we set up the Development Bank in 2017, it has acted as a social impact investor, making sure its investments support our priorities, from encouraging entrepreneurship to building a greener economy. Reaching the £1 billion milestone makes me proud of the Bank’s role in driving economic development.”
First Minister Eluned Morgan said the milestone demonstrated the strength of Welsh businesses. She added: “Wales is a great place to set up a business or invest in projects and this is part of the message I shall be sharing with delegates from across the globe at the Wales International Summit in December.”
Since its establishment, the bank has provided £428 million in growth funding to 3,675 businesses and supported Welsh entrepreneurship with £61 million for 787 start-ups. There have also been 341 succession deals worth £138 million, helping to keep long-standing businesses in Wales. Thirty successful exits have generated a further £31 million.
Chair of the Development Bank, Hon. Group Captain Sally Bridgeland FIA, said: “Our investments have supported thousands of businesses at every stage of their growth journey. These results demonstrate the power of sustainable capital to deliver long-term economic value, bringing ambitions to life and delivering benefits for people and communities across Wales.”
Chief Executive Giles Thorley added: “This achievement is a testament to the hard work and ambition of the businesses and entrepreneurs we’ve supported and to the dedication of my colleagues. By leveraging £636 million in private co-investment and deploying recyclable funds, we’re building a legacy of growth and resilience for future generations.”
Investment breakdown
• 5,184 investments across 4,699 businesses
• Average deal size: £190,000
• Funding mix: £564m in debt; £138m in equity; £298m in property
Business
Pembroke Power Station National Grid shutdown power plans
A CALL to site specialist diesel generators at Pembroke Power Station to help keep the lights on in the event of a National Grid shutdown has been lodged with county planners.
In a screening application to Pembrokeshire County Council, RWE Generation UK PLC, through Ove Arup & Partners Ltd, wants to site up to six containerised diesel generators, diesel storage tank(s) and electrical connections at Pembroke Power Station, Pwllcrochan, near Pembroke.
The application site is within the site of the existing Pembroke Power Station, a combined-cycle gas turbine (CCGT) station which began commercial operation in September 2012, with a gross consented capacity of about 2,199 megawatts electric (MWe), replacing the previous oil-fired power station which operated for almost 30 years and was decommissioned in 1999.
A supporting statement says, subject to confirmation, it is considered to comprise permitted development, the scheme “a standalone plant, with its own fuel supply, capable of starting up, operating and shutting down independently from the power station”.
It adds: “It is required only in an emergency to maintain plant status and keep the power station operationally ‘ready’ in the event of a total or partial shutdown of the National Grid system. It is not required for the normal operation of the power station and does not extend its capacity, which remains as already consented, therefore it is not considered a change or extension.”

On need, it says it is mandatory that all electricity generators of over a megawatt have to adopt a new minimum standard of asset resilience; power stations “must be capable of restoring demand on the National Grid electricity transmission system in the event of a total or partial shutdown of the National Grid system”.
“The Power Station does not currently meet this new asset resilience standard, therefore new back-up power, control philosophy and on-site services that support site critical systems enabling the power station to remain ready to operate must be implemented.
“RWE is required to install a new enhanced emergency site auxiliary solution (diesel generators and diesel storage tanks) at the power station for resilience against the failure of the interconnected electricity distribution network into which it is normally connected in order to satisfy the Grid Code requirements by the mandated implementation deadline of December 31, 2026.
“RWE will make operational and fuelling provision, within its new resilience design at Pembroke power station of up to 120 hours, in order to provide capability to a slightly enhanced standard known to be valued by the National Energy System Operator (‘NESO’) in certain emergency network scenarios.”
It says construction is hoped to start in July 2026, lasting approximately nine to 12 months, the main part across the summer months.
The call will be considered by county planners at a later date.
Business
Pembrokeshire St Brides Castle biomass and solar scheme
PLANS for a green energy scheme at a Pembrokeshire former country house which is now holiday apartments have been given the go-ahead.
In an application to Pembrokeshire Coast National Park, HPB Ltd, through agent Acanthus Holden Architects, sought permission for a biomass boiler plant and installation of 16 rows of solar panels to the south of the tennis courts, St Brides Castle, St Brides, along with the removal of two tennis courts, two polytunnels, two sheds and relocation of a container.
Marloes and St Brides Community Council: Supporting
An officer report recommending approval said: “St Brides Castle. Listed Grade II* is a former country house (now holiday apartments) just south-west of the small settlement of St Brides.
“The house and its listed ancillary buildings stand prominently within a large grade-II-registered park and garden. The development site lies immediately south of the registered asset, outside of its boundary.”
It added: “Although in a sensitive location, the proposed scheme is well-screened, utilising an existing hedged enclosure. The proposed panels do not protrude over the hedge line, the proposed extra planting to the south and west providing further screening. The proposed building, also well-screened, is of traditional design, proportions and materials.”
The application was conditionally approved by park planners.
Business
Welsh business confidence rises as firms buck UK trend
Wales records strongest year-on-year growth of any UK nation or region, according to Lloyds Business Barometer
WELSH business confidence rose in April as firms reported growing optimism about the wider UK economy, new figures show.
The latest Business Barometer from Lloyds found that confidence among businesses in Wales rose by eight points to 38% during the month.
That was despite overall UK business confidence falling by 11 points to 44% in April.
The survey found Welsh firms’ confidence in their own trading prospects remained unchanged at 46%, while optimism about the wider economy climbed 16 points to 30%.
When combined, those figures gave Wales a headline confidence reading of 38%, up from 30% in March.
Wales also recorded the largest year-on-year confidence growth of any UK nation or region and was the only area to report both year-on-year and month-on-month growth.
A net balance of 34% of businesses in Wales said they expected to increase staff numbers over the next year, up nine points on the previous month.
Looking ahead, Welsh firms identified investment in their teams as the main target area for growth, with 48% citing training and staff development.
Other priorities included introducing new technology, such as AI or automation, at 42%, and evolving products or services at 40%.
The Business Barometer, which surveys 1,200 businesses each month, has been running since 2002 and is used as an early indicator of UK economic trends.
Amanda Murphy, CEO for Lloyds Business and Commercial Banking, said: “Businesses told us their confidence fell as inflation pressures re-emerged, global uncertainty persisted and costs remained elevated.
“While sentiment declined, it remained above the long-term average, with nearly two-thirds expecting stronger output in the coming year.
“UK businesses are resilient and adept at deploying strategies to defend growth in uncertain conditions. Over the past month, we’ve seen them opt for flexibility wherever possible.
“They’re building contingency into their short and medium-term plans, rather than expecting a rapid return to normal. Protecting margins has become more important.
“That means tougher cost scrutiny and a greater focus on balancing growth with profitability.
“In this environment, as with other recent market disruptions, we continue to observe that sustainable success comes from discipline, resilience and clarity about what really drives long-term value.”
Nathan Morgan, area director for Wales at Lloyds, said: “Wales is bucking the UK-wide trend when it comes to business confidence, increasing during April against the national trend.
“This confidence is the result of Welsh firms’ ongoing focus on investment to protect their position against future disruption.
“At Lloyds, we’ll continue to nurture this recent momentum of growth by working with businesses across the nation to equip them with the financial tools they need.”
Across the UK, firms’ confidence in their own trading outlook fell six points to 54%, while optimism in the wider economy dropped 17 points to 33%.
The East Midlands was the most confident UK nation or region in April at 53%, followed by London at 51% and the West Midlands at 49%.
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