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
First wind turbine components arrive as LNG project moves ahead
THE FIRST ship carrying major components for Dragon LNG’s new onshore wind turbines docked at Pembroke Port last week, marking the start of physical deliveries for the multi-million-pound renewable energy project.
The Maltese-registered general cargo vessel Peak Bergen berthed at Pembroke Dock on Wednesday 26th November, bringing tower sections and other heavy components for the three Enercon turbines that will eventually stand on land adjacent to the existing gas terminal at Waterston.
A second vessel, the Irish-flagged Wilson Flex IV, has arrived in Pembroke Port today (Thursday) carrying the giant rotor blades.
The deliveries follow a successful trial convoy on 25 November, when police-escorted low-loader trailers carried dummy loads along the planned route from the port through Pembroke, past Waterloo roundabout and up the A477 to the Dragon LNG site.
Dragon LNG’s Community and Social Performance Officer, Lynette Round, confirmed the latest movements in emails to the Herald.
“The Peak Bergen arrived last week with the first components,” she said. “We are expecting another delivery tomorrow (Thursday) onboard the Wilson Flex IV. This will be blades and is currently showing an ETA of approximately 03:30.”
The £14.3 million project, approved by Welsh Ministers last year, will see three turbines with a combined capacity of up to 13.5 MW erected on company-owned land next to the LNG terminal. Once operational – expected in late 2026 – they will generate enough electricity to power the entire site, significantly reducing its carbon footprint.
The Weather conditions were favourable for the arrival of the Wilson Flex IV, which was tracking south of the Smalls at midnight.
The abnormal-load convoys carrying the components from the port to Waterston are expected to begin early next year, subject to final police and highway approvals.
A community benefit fund linked to the project will provide for residents in nearby Waterston, Llanstadwell and Neyland.
Further updates will be issued by Dragon LNG as the Port of Milford Haven as the delivery programme continues.
Photo: Martin Cavaney
Business
Cardiff Airport announces special Air France flights for Six Nations
Direct services to Paris-Charles de Gaulle launched to cater for Welsh supporters, French fans and couples planning a Valentine’s getaway
CARDIFF AIRPORT and Air France have unveiled a series of special direct flights between Cardiff (CWL) and Paris-Charles de Gaulle (CDG) scheduled for February 2026.
Timed to coincide with two major dates — the Wales v France Six Nations clash on Saturday 15 February and Valentine’s weekend — the flights are designed to offer supporters and holidaymakers an easy link between the two capitals.
For travelling French rugby fans, the services provide a straightforward route into Wales ahead of match day at the Principality Stadium, when Cardiff will once again be transformed by the colour, noise and passion that accompanies one of the tournament’s most eagerly awaited fixtures.

For Welsh passengers, the additional flights offer a seamless escape to Paris for Valentine’s Day, as well as opportunities for short breaks and onward travel via Air France’s wider global network.
Cardiff Airport CEO Jon Bridge said: “We’re thrilled to offer direct flights to such a vibrant and exciting city for Valentine’s weekend. Cardiff Airport is expanding its reach and giving customers fantastic travel options. We’ve listened to passenger demand and are delighted to make this opportunity possible. There is more to come from Cardiff.”
Tickets are already on sale via the Air France website and through travel agents.
Special flight schedule
Paris (CDG) → Cardiff (CWL):
- 13 February 2026: AF4148 departs 17:00 (arrives 17:30)
- 14 February 2026: AF4148 departs 14:00 (arrives 14:30)
- 15 February 2026: AF4148 departs 08:00 (arrives 08:30)
- 15 February 2026: AF4150 departs 19:40 (arrives 20:10)
- 16 February 2026: AF4148 departs 08:00 (arrives 08:30)
- 16 February 2026: AF4150 departs 16:30 (arrives 17:00)
Cardiff (CWL) → Paris (CDG):
- 13 February 2026: AF4149 departs 18:20 (arrives 20:50)
- 14 February 2026: AF4149 departs 15:20 (arrives 17:50)
- 15 February 2026: AF4149 departs 09:20 (arrives 11:50)
- 15 February 2026: AF4151 departs 21:00 (arrives 23:30)
- 16 February 2026: AF4149 departs 09:20 (arrives 11:50)
- 16 February 2026: AF4151 departs 17:50 (arrives 20:20)
Business
Cwm Deri Vineyard Martletwy holiday lets plans deferred
CALLS to convert a former vineyard restaurant in rural Pembrokeshire which had been recommended for refusal has been given a breathing space by planners.
In an application recommended for refusal at the December meeting of Pembrokeshire County Council’s planning committee, Barry Cadogan sought permission for a farm diversification and expansion of an existing holiday operation through the conversion of the redundant former Cwm Deri vineyard production base and restaurant to three holiday lets at Oaklea, Martletwy.
It was recommended for refusal on the grounds of the open countryside location being contrary to planning policy and there was no evidence submitted that the application would not increase foul flows and that nutrient neutrality in the Pembrokeshire Marine SAC would be achieved within this catchment.
An officer report said that, while the scheme was suggested as a form of farm diversification, no detail had been provided in the form of a business case.
Speaking at the meeting, agent Andrew Vaughan-Harries of Hayston Developments & Planning Ltd, after the committee had enjoyed a seasonal break for mince pies, said of the recommendation for refusal: “I’m a bit grumpy over this one; the client has done everything right, he has talked with the authority and it’s not in retrospect but has had a negative report from your officers.”

He said the former Cwm Deri vineyard had been a very successful business, with a shop and a restaurant catering for ‘100 covers’ before it closed two three years ago when the original owner relocated to Carmarthenshire.
He said Mr Cadogan then bought the site, farming over 36 acres and running a small campsite of 20 spaces, but didn’t wish to run a café or a wine shop; arguing the “beautiful kitchen” and facilities would easily convert to holiday let use.
He said a “common sense approach” showed a septic tank that could cope with a restaurant of “100 covers” could cope with three holiday lets, describing the nitrates issue as “a red herring”.
He suggested a deferral for further information to be provided by the applicant, adding: “This is a big, missed opportunity if we just kick this out today, there’s a building sitting there not creating any jobs.”
On the ‘open countryside’ argument, he said that while many viewed Martletwy as “a little bit in the sticks” there was already permission for the campsite, and the restaurant, and the Bluestone holiday park and the Wild Lakes water park were roughly a mile or so away.
He said converting the former restaurant would “be an asset to bring it over to tourism,” adding: “We don’t all want to stay in Tenby or the Ty Hotel in Milford Haven.”
While Cllr Nick Neuman felt the nutrients issue could be overcome, Cllr Michael Williams warned the application was “clearly outside policy,” recommending it be refused.
A counter-proposal, by Cllr Tony Wilcox, called for a site visit before any decision was made, the application returning to a future committee; members voting seven to three in favour of that.
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