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Welsh Government and Development Bank launch new Green Business Loan Scheme

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A MAJOR new loan scheme to support businesses in Wales cut their energy costs by taking steps to become greener and more energy efficient has been launched today by the Welsh Government and Development Bank of Wales.

With the ambition to invest £10m over the next 3 years, the new Green Business Loan Scheme, which will offer discounted interest rates and flexible repayment dates, will help businesses make improvements allowing them to reduce their carbon footprint – supporting Wales’ journey to become net zero by 2050.

Projects which could be supported by the loans include:

  • Investing in renewable energy technology;
  • Improving the fabric of premises and energy efficiencies within the building;
  • Upgrading systems or machinery to reduce energy use;
  • Water usage and waste reduction/improvements
  • While businesses see the benefits in becoming environmentally sustainable, many lack the funds required to make the up-front investment needed. And wider economic circumstances mean many businesses which might have planned decarbonisation work have since had to prioritise other costs – while those who have the resources needed to make such improvements often don’t know the best place best to start.

As well as the new loan, support and advice is also available from the Welsh Government’s Business Wales service to help businesses decarbonise.

Launching the new loan scheme, Economy Minister, Vaughan Gething, said:

“Tackling climate change is a priority for the Welsh Government. That’s why we’ve set ambitious plans for Wales to become net zero by 2050.

“Businesses have a crucial role to play if we are to meet our ambition, so we’re proud to work with the Development Bank in supporting Welsh businesses on their decarbonisation journey.

“The economy has suffered in recent months and many businesses won’t have the resources needed to decarbonise. This is especially concerning as energy bills have risen, which highlights just how important Wales’ journey towards becoming a Net Zero nation is.

“We want to ensure businesses have the support needed to make the improvements they want to make – not just through financial backing offered by the Green Business Loan Scheme, but also with practical advice from our Business Wales service.

“I’d encourage any businesses interested in the new scheme to contact the Development Bank for more information.”

Minister for Climate Change, Julie James, said:

“The current cost of energy has brought into sharp focus the need to reduce our energy use, be more energy efficient and switch to local, renewable energy sources instead of relying on costly fossil fuels.

“Businesses can be at the heart of our transition to net zero, and we know our business community are keen to take action. This scheme offers the capital funding which small and medium sized businesses often need to make investment decisions.

“The Green Business Loan Scheme can help businesses reduce carbon emissions, manage energy costs and increase business competitiveness.”

The market for ‘green’ loans is new and evolving and the Development Bank will use this pilot to test the market – learning lessons that can inform the operation of the larger funds operated by the bank. Those larger funds such as the Wales Flexible Investment Fund carry the firepower to provide finance at far greater scale.

Chief Executive of the Development Bank of Wales, Giles Thorley, said:

“The new Green Business Loan Scheme will help businesses looking to improve energy efficiency and future-proof themselves against rising energy costs.

“We know that sustainability is an increased area of focus for investors, customers and employees – as such, investing in decarbonisation measures is becoming increasingly important for businesses, but few have the initial capital needed to make those changes.

“The new scheme offered by the Development Bank will be provided on a patient capital basis, with payment schedules linked to the payback of improvements made.”

 

Business

Tenby sailing club works approved by national park

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A CALL for works to Tenby’s listed building sailing club to improve energy efficiency for the community organisation has been given the go-ahead.

In an application to Pembrokeshire Coast National Park, Harrison Richards of Tenby Sailing Club sought permission for replacing 24 timber windows at the Grade-II-listed Tenby Sailing Club, Penniless Cove Hill, with new Accoya timber double-glazed units.

The application added: “An energy survey conducted by Dragon Energy Consultants highlighted the existing single glazing and rotten window frames as a significant contributor to the club’s energy consumption.

“Tenby Sailing Club is a community organisation which seeks to organise activities year-round but faces significant energy costs being housed in a historic building. The current windows are beyond repair, with cracked glazing, decay, water ingress, and poor energy efficiency.

“The two windows at balcony level are not included, as they were previously replaced and remain in good condition. All new units will replicate the existing profiles, dimensions, glazing patterns, and overall appearance, ensuring no visual change to the building’s character.

“The neighbouring three-storey harbour stores occupied by Tenby Sea Cadets have previously replaced the building’s windows with double glazing. This like-for-like replacement in appearance will improve durability, weather resistance, and thermal performance while preserving the special architectural and historic interest of the listed building.”

An officer report recommending approval said: “The Sailing Club was built as a warehouse c. 1825, abutting the C17 sluice. Originally wine stores, it was later used by the local fishermen for stores and is now the home to Tenby Sailing Club, established in 1936.”

It said no adverse comments to the proposals had been received.

It added: “The proposal is to replace the majority (24 total) of windows in painted timber, double-glazed with face-mounted glazing bars of traditional scale and profile. Whilst a modern practice of glazing, the proposal involves no loss of historic fabric, provides an obvious visual improvement and addresses concerns as to heating costs.”

It finished: “The scheme is considered to be in keeping with the character of the listed building, and its setting in terms of design and form. As such, the application can be supported subject to conditions.”

The application was conditionally approved by planners.

 

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Business

Taxi fare shock in Milford Haven as drivers switch to meters

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TAXI passengers in Milford Haven are facing a sudden jump in fares, as drivers increasingly switch on their meters and charge full council-approved rates.

One Herald reader said a short return trip from Milford Haven to Neyland cost £30 — around double what he expected to pay.

But drivers insist the prices are not new — they are simply the official tariff now being applied.

Under Pembrokeshire County Council rules, the standard daytime fare starts at £4 for the first mile (£5 after 6pm), rising by around £3 per mile thereafter. Waiting time is also charged, meaning even short return journeys can quickly add up.

Higher rates apply in the evenings, at weekends and on bank holidays.

End of the £3 taxi

Milford Haven has long been known for cheap taxis, with short in-town journeys often costing as little as £3 — far below official rates.

That was down to competition, older vehicles, and the need to keep prices low in a town where many rely on affordable transport.

Drivers say those days are now over.

One local driver told The Herald: “People got used to cheap fares, but that was never the real price. Now we have to use the meter or we’re losing money.”

Fuel costs biting

Most taxis run on diesel, now around 170p per litre locally. For drivers covering long distances each day, the increase has hit hard.

Global tensions in the Middle East have pushed up oil prices, feeding directly into higher fuel costs in the UK.

With fare increases requiring a lengthy council process, many drivers say they have no option but to charge the full tariff.

Vulnerable hit hardest

The change is being felt most by those who rely on taxis the most.

Elderly residents, people on low incomes and those without access to a car are now facing higher everyday travel costs.

There has been no recent increase in Pembrokeshire’s official taxi fares, which have remained broadly unchanged since 2022.

The difference is simple: drivers are now charging them.

As one put it: “We’re not putting prices up — we’re just finally charging what we’re supposed to be charging.”

 

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Business

Cardiff Airport expects Easter passenger surge as demand rises

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CARDIFF AIRPORT is preparing for a busy Easter getaway, with more than 46,000 passengers expected to travel through the airport over the holiday period.

The figure represents an 18% increase compared to the same period last year, reflecting growing demand for both sunshine destinations and European city breaks.

The busiest routes this Easter are set to be Alicante, Dublin and Málaga, with flights operated by airlines including Ryanair, Vueling and TUI Airways.

Travellers heading for warmer weather can also take advantage of direct flights to the Canary Islands, including Tenerife, Lanzarote, Gran Canaria and Fuerteventura, alongside popular destinations such as Faro and Palma.

The airport says the increase builds on a strong start to 2026, with passenger numbers continuing to rise.

Chief executive Jon Bridge said the airport is approaching the one million passenger mark and expects the summer season to be its busiest since the pandemic.

He said: “It’s been an incredibly positive start to the year, and we’re looking forward to welcoming more passengers over the Easter period.

“Our teams are working hard to ensure travellers can start their holidays smoothly.”

Passengers travelling over Easter are being advised to allow extra time for their journey and check with airlines for the latest updates.

A total of 46,158 passengers are expected to pass through the airport between March 27 and April 12, with arrivals and departures almost evenly split.

Cardiff Airport said it continues to expand its range of destinations, including the addition of a direct service to Toronto, as it looks to strengthen its role in connecting Wales to international travel.

 

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