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Green energy investment from the Wales Pension Partnership

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THE WALES PENSION PARTNERSHIP (WPP), a collaboration of the local government pension schemes in Wales, will invest around £68m into onshore wind Energy Parks being developed by Welsh renewable energy business Bute Energy.

Based in the centre of Cardiff, Bute Energy is making the Welsh weather work for Wales, developing onshore wind projects that will generate clean, green energy, supporting the Welsh Government’s target for electricity to be 100% renewable by 2035.

Bute Energy has a vision of a healthier, wealthier Wales that uses renewable energy generation as a positive power for this and future generations. The company is acting now, taking positive proactive steps to help address the climate emergency and the cost-of-living crisis, while investing in rural communities in Wales to help them have a healthy future.

Councillor Ted Palmer, Chair of the Wales Pension Partnership Joint Governance Committee

“We are at a critical time for society as we attempt to address climate change and the cost-of-living crisis, while creating green, skilled jobs. This investment in Bute Energy projects means that our members are contributing to addressing all of these issues while also retaining the wealth from renewable energy in Wales.

“This will deliver ethical investments and will contribute to the wellbeing of future generations in Wales – as well as meeting Welsh Government targets on local and shared ownership of renewable energy projects.”

Bute Energy’s Energy Parks and electricity grid projects are expected to attract up to £3bn of direct investment into Wales, delivering a material boost for economic growth and employment for the Welsh economy. The projects will generate jobs during their construction phase and skilled long-term jobs during their operational phase, at locations across Wales. In addition, we expect that Wales will also benefit from a significant number of indirect jobs associated with such investment.

Once operational, the Energy Parks are expected to deliver approximately £800m of Community Benefit Funding to the communities living closest to the projects and will generate enough clean, green electricity to offset more than 2.6 million tonnes of CO2 emissions a year – equivalent to c.7% of Wales’s total greenhouse gas emissions.

Oliver Millican, Chairman of the Bute Energy Group said: “We’re delighted to welcome this public sector investment in renewable energy in Wales. Public sector workers across the country are investing in projects that will generate clean, green energy that homes, businesses, schools and hospitals will need in the future. They arenot only investing in their future, but also the health and wellbeing of future generations in Wales.

“At Bute Energy our ambition is to power Wales with clean green energy, and empower our communities through investment, jobs, and skills. We share WPP’s values of long term, stable and sustainable investment.

“Just like Wales was at the heart of the first industrial revolution, it has all the natural resources, skills and innovative thinking to lead the Green Revolution. The Welsh Government is determined that the benefit, valueand wealth from this green revolution will come to and stay in Wales and this investment will help to guarantee that.”

The renewable energy projects that WPP is investing in will help deliver clean green energy to the people of Wales and beyond, addressing some of this generation’s biggest challenges and help to create a better world for future generations. This investment will contribute to the Welsh Government’s targets for electricity to be 100% renewable by 2035 and contribute to targets for 1GW of renewable electricity and heat capacity to be locally owned by 2030. There is wide political support in Wales for pension funds to invest in projects that respond to the climate emergency, with a Senedd debate and vote in May 2022 in favour of the divestment of public sector pension schemes from fossil fuels and stronger investment into the renewables sector.

WPP has been advised by independent clean energy asset manager Capital Dynamics and by the law firms TLT LLP and Burges Salmon LLP.

Copenhagen Infrastructure Partners (CIP), one of Europe’s biggest renewable energy investors, has previously announced that it is investing in the development of Bute Energy’s projects, and, through this transaction, WPP will now become a joint investor alongside CIP in Bute Energy’s Energy Parks.

 

Business

Main Street Music to close retail shop as owner focuses on handmade guitars

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A POPULAR Pembrokeshire music shop is changing the way it operates, with Main Street Music confirming it will no longer trade as a retail shop from September 1.

The business said there will be an immediate 15% sale on all stock, but stressed that Main Street Music is not disappearing completely.

The owner said the decision had been made “with a heavy heart”, adding that the shop’s closure as a retail outlet would be a loss for Pembrokeshire as the county’s last professional guitar dealership.

He said his long-term passion had always been making musical instruments, something he had done since his teenage years, later receiving scholarships and a fellowship for his studies.

After college, he was given the opportunity to buy the business at the age of 24.

He said: “I have had an amazing time running this shop, giving it everything I’ve got, met some wonderful people and sold some incredible guitars.”

Although the business itself remains successful, he said tighter retail margins, dealership pressures and rising costs had made it difficult to grow in a way that would allow him to employ others and spend more time in the workshop.

The shop will eventually reopen as an appointment-only workshop and showroom for handmade guitars and repairs.

Current repair work will continue on a case-by-case basis by appointment only.

Main Street Music thanked customers for their support over recent years, saying the owner was proud of where the shop had been taken.

Caption:

Main Street Music will close as a retail shop from September 1, but will continue as an appointment-only workshop and showroom for handmade guitars and repairs.

 

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Fishguard and Goodwick Bowls Club set to appeal council’s refusal of signage

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A Pembrokeshire sports club, which was recently refused permission by the council to keep advertising signs which support its activities, is looking to fight that decision.

Earlier this month, in an application refused by Pembrokeshire County Council on the grounds of visual impact, Fishguard & Goodwick Bowls Club sought retrospective permission for up to 36 signs on land close to the town’s Phoenix Centre.

The signs, which the applicants said provide “an important source of revenue for the Fishguard and Goodwick Bowls Club, supporting the ongoing operation and maintenance of local community sporting facilities,” had been in place for some 18 months, being removed ahead of the formal planning application.

Speaking after the refusal, Richard Brind, club captain of Fishguard & Goodwick Bowls Club, said the club had discussed challenging the decision, and had been taking advice from local county councillors about the best potential route, with options including a direct appeal through the Welsh Government’s PEDW (Planning and Environment Decisions Wales).

“We acted in good faith as we believed we had permission from a PCC department to install the signs.

“The irony in all of this is we actually paid PCC to have the signs made by their sign making department (who were the department that told us it would be OK to install the signs on our fence).

“The landlord of the grounds which is PCC have told us that they had no objection to us installing the signs, providing planning is granted.”

Mr Brind added: “I’m disappointed with the way the planning department have handled the process, not the decision, but I do think that was wrong; other sports clubs have signs up in the area, it doesn’t seem right.”

On the financial implication, he said: “Unfortunately, the costs of everything goes up, the costs to maintain the green are not covered by our membership, this year we’re probably going to spend £5,000. The money from the signs was certainly helping to keep the club viable, if we don’t get that money from somewhere, maybe through increased fees; membership would have to go up by a half, from £80 to £120.

“The funding we receive from the ads, it’s not vital but it’s a definite help, losing it would be ‘death from 1,000 cuts,’ money slowly trickling out.”

He finished: “I could understand it if it was an area of outstanding natural beauty rather than a car park, where we are we’ve got Jewsons and a petrol station.”

A spokesman for Pembrokeshire County Council said: “The Local Planning Authority has considered the application in accordance with the Town and Country Planning (Control of Advertisements) Regulations 1992 (as amended), which require due consideration of the impact signage would have on visual amenity and public safety.

“While comments regarding advice the applicant received from other council departments and landowner consent are noted, each application must be determined on its own merits with regard to relevant policy and legislation.

“The Authority recognises the club’s valuable role in the community; however, financial considerations are not material to the assessment of advertisement consent.

“Whilst there is a right of appeal to Planning and Environment Decisions Wales (PEDW), the Local Planning Authority remains willing to engage with the applicant regarding any revised proposals they may wish to present.”

 

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Government backs high street with crackdown on cheap imports

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MINISTERS have announced plans to speed up reforms aimed at helping high street businesses compete with online retailers and overseas sellers.

The Treasury said changes to low-value imports will now be brought forward by six months, with customs duty relief on goods worth £135 or less set to be scrapped from October 2028.

The move is designed to stop online retailers gaining an unfair advantage over shops, pubs, restaurants, hotels and other high street businesses.

At present, many cheaper imported goods can enter the UK without customs duty, a system which ministers say has left traditional retailers at a disadvantage.

The Government is also reviewing how VAT is collected from businesses trading through online marketplaces, amid concerns that some sellers are failing to pay the tax they owe.

The Treasury said revenue raised from tougher VAT enforcement would be used to help improve the business rates system for high street firms.

Dan Tomlinson, Exchequer Secretary to the Treasury, said: “This action tackles the unfair competition and dodgy businesses that are doing real damage to our high streets.

“And by making sure that tax is paid when it’s owed, we can raise revenue to put back into improvements to the business rates system for pubs, restaurants, hotels and other high street businesses.”

The package also includes a consultation on VAT reform for land used in new social housing developments.

Ministers say the change could help speed up the delivery of affordable homes by making the tax system better reflect how social housing schemes are developed.

The Treasury said the measures form part of wider plans to make the UK tax and customs system simpler, fairer and more focused on economic growth.

 

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