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Business

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

Calls for urgent sale of Oakwood site amid trespasser fears

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CONCERNS have been raised about trespassers entering the closed Oakwood theme park, prompting calls for a swift sale of the site.

The once-popular attraction near Narberth has become a hotspot for urban explorers and thrill-seekers, with social media videos emerging of people wandering around the abandoned rides and infrastructure.

Since Oakwood shut its gates last month, following a decision by Spanish owners Aspro Parks to cease operations due to falling visitor numbers, locals have raised concerns about safety and the risk of vandalism.

Sam Kurtz MS, who represents Carmarthen West and South Pembrokeshire, said a speedy sale was now vital to prevent further deterioration and potential criminal activity.

“The longer it remains empty, the greater the risk of problems – from trespassing to the site falling into disrepair,” said Mr Kurtz. “There’s also a real risk to health and safety if people are entering unsupervised.”

Mr Kurtz called on Aspro to actively work with the Welsh Government, local businesses, and other stakeholders to secure a new future for the site.

“This is a valuable asset,” he said. “There’s been a lot of interest from businesses already, and I urge Aspro to engage with us so we can get the ball rolling.”

Dyfed-Powys Police confirmed they have received multiple reports of trespassing and possible criminal offences at the site since its closure.

The BBC have reported that Economics expert Professor Calvin Jones, of Cardiff University, was less optimistic about Oakwood’s chances of reopening as a theme park.

“If the existing operator – who’s invested tens of millions – can’t make it viable, it’s unlikely a new operator would be able to,” he said.

Instead, Prof Jones suggested the land might lend itself better to other recreational activities, such as adventure tourism, mountain biking, or zipline attractions, depending on what planning authorities allow.

“Ultimately, the future use of the site will come down to planning permission,” he said. “It may become something entirely different.”

Bluestone National Park Resort, which neighbours Oakwood and employs around 700 people, declined to comment on whether it would consider buying the land. Prof Jones noted that Bluestone has historically expanded cautiously and would likely only consider purchasing the site if the price was low.

The Welsh Government said that it “continues to engage” with Aspro Parks and recognised the former theme park’s importance to the local economy.

A spokesperson said: “We are hopeful a buyer will come forward to ensure this site can continue contributing to tourism in the area.”

Pembrokeshire County Council has confirmed it has not yet held any discussions with Aspro.

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Business

Pubs to stay open late for VE Day 80th anniversary

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Extended hours to help nation mark milestone in Second World War history

PUBS across England and Wales will be allowed to serve until 1:00am to mark the 80th anniversary of Victory in Europe (VE) Day, the Prime Minister has announced.

The extension applies to the evening of Wednesday, May 8, allowing revellers to continue their celebrations into the early hours of Thursday, May 9.

A series of national events are planned to commemorate the end of the Second World War in Europe, including a military parade through central London, an RAF flypast, and the lighting of more than 2,500 beacons across the UK.

Late opening hours for pubs have previously been granted during major national occasions, including Queen Elizabeth II’s Platinum Jubilee and England’s matches during the Euro 2024 semi-finals and final.

Speaking ahead of the anniversary, Prime Minister Keir Starmer said: “As we mark the 80th anniversary of VE Day, the whole country should come together to remember the incredible sacrifices made by the wartime generation and to celebrate the peace and freedom they secured for us all.

“Keeping our pubs open for longer will give people the opportunity to join in celebrations and raise a glass to all of the men and women who served their country, both overseas and at home.”

The commemorations will begin on Monday, May 5, with Union Flags flying at the Cenotaph in London. A military procession will march from Whitehall to Buckingham Palace, followed by an aerial display by the Royal Air Force. On May 8, the BBC will broadcast a celebratory event live from Horse Guards Parade.

Michael Kill, chief executive of the Night Time Industries Association, welcomed the decision. He said: “At such a challenging time for the hospitality sector, allowing businesses to extend their trading hours during these celebrations offers a much-needed boost while paying tribute to our shared history.”

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Business

Greenlink energy link goes live, connecting Pembrokeshire to Ireland

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Interconnector brings power boost and green energy potential to Wales and Ireland

A MAJOR new electricity interconnector linking Pembrokeshire and Ireland has gone live, with power now flowing between the two countries for the first time via the Greenlink project.

The 504-megawatt (MW) Greenlink Interconnector connects National Grid’s 400kV substation at Pembroke with EirGrid’s Great Island substation in County Wexford. The link spans 200km, including 160km of high-voltage direct current (HVDC) cable laid beneath the Irish Sea.

The interconnector is expected to improve energy security, increase grid resilience, and support the growth of renewable energy by allowing surplus electricity to be shared between Wales and Ireland.

Greenlink is one of the first privately funded energy infrastructure projects of its kind in Europe. It is owned by Greenlink Interconnector Limited and operated by EirGrid.

At the Welsh end of the link, National Grid carried out a series of upgrades to its Pembroke substation, including the installation of a new gas-insulated switchgear bay inside the existing air-insulated facility. The hybrid solution was designed to be space- and cost-efficient, and it uses a greener insulating gas instead of sulphur hexafluoride (SF6), in line with National Grid’s target to halve SF6 emissions by 2030.

James O’Reilly, CEO of Greenlink Interconnector Limited, described the go-live as a “significant milestone.”

He said: “This is one of the first privately developed and funded energy projects between the UK and Ireland. By enabling the transfer of green energy across borders, Greenlink strengthens energy security, enhances sustainability, and fosters greater connectivity with the wider European market.”

John Twomey, Director of Customer Connections at National Grid, said connecting Greenlink to the network at Pembroke allows both countries to “benefit from that boost in capacity and resilience.”

He said: “As demands on our electricity grids evolve, interconnectors provide immense value by strengthening the security of electricity supplies and improving our collective ability to exploit renewable power produced across borders.”

The converter stations at each end of the interconnector transform electricity between direct current (DC) and alternating current (AC) for use on the respective national grids.

Michael Kelly, interim Chief Operations and Asset Management Officer at EirGrid, said the project was “a vital step forward in strengthening our shared commitment to energy resilience and security.”

He added: “EirGrid is leading the transition to a low carbon future by making Ireland’s grid renewable ready. This latest connection was made possible through collaboration with our UK colleagues and the Greenlink team.”

The interconnector is now fully operational, with electricity flowing across the Irish Sea in both directions.

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