Business
Welsh Government and Development Bank launch new Green Business Loan Scheme
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
Paul Butterworth appointed Vice Chair of Regional Learning and Skills Partnership
Paul Butterworth, the CEO of Chambers Wales South East, South West and Mid, has been appointed as the new Vice Chair of the Regional Learning and Skills Partnership (RLSP) for south-west Wales.
Covering Carmarthenshire, Neath Port Talbot, Pembrokeshire and Swansea, the RLSP is dedicated to bridging the gap between education, skills, and regeneration. It aims to ensure that the skills provision is aligned with the economic priorities and opportunities of the region, as well as tackling the new skills landscape that is happening within the energy, construction, manufacturing and digital sectors.
As CEO of Chambers Wales, Paul brings a wealth of experience and a passion for the economic and skills development of Welsh businesses with him to the board.
As the voice of the business community with policymakers, Paul will advocate for enhanced skills training, infrastructure improvements and the creation of skilled jobs, all aimed at creating local economic growth.
Upon his appointment, Paul said: “I am determined to create a better and fairer business landscape for West Wales to ensure that the local economy has the best available skills development for future project development and the transition into the green economy and energy sector to ensure West Wales thrives.”
Jane Lewis, Regional Partnerships Manager at RLSP, said: “We are delighted to have Paul on the board. He will be instrumental in achieving our goals and look forward to the positive impact his appointment will have on the region.”
Business
Expansion for Ashmole & Co with acquisition of Jones Ward Accountants
CHARTERED, Certified Accountants, Ashmole & Co, are delighted to announce their expansion following the acquisition of JonesWard accountancy firm in Carmarthen.
Ashmole & Co Carmarthen has today taken over JonesWard who have closed their office in Lammas Street, Carmarthen. All JonesWard staff, including Ian Jones and James Ward, have transferred over to Ashmole & Co and will be based in the Old School, the Quay, Carmarthen.
JonesWard informed their clients that the administrative burden of running a practice had increased significantly over recent years due to the constant changing money laundering and tax regulations, software requirements and so on. Over the past 12 months it had become more challenging to maintain the level of service they had been used to providing.
Ian Jones said, “We feel Ashmole & Co share the same values as us and have the necessary expertise and resources to ensure we can continue to provide the personal touch and level of service clients have been accustomed to. Myself and James are not retiring but we will be supported by Ashmole & Co’s partners and staff from now on in their Carmarthen office.”
Ashmole & Co partners Sharon George, Carwyn Morgan and Vinal Patel will strive to ensure JonesWard clients will continue to receive the high quality of service they are used to.
Vinal Patel, Partner with Ashmole & Co said, “It is our priority to make the transition as smooth as possible with all employees of JonesWard having already transferred to Ashmole & Co and are now based in our office on the Quay in Carmarthen. We look forward to meeting our new clients and working closely with them to meet their needs in the future.”
Ashmole & Co Chartered and Certified Accountants have been established since 1897 and are one of the largest accountancies and auditing practices in south Wales, now operating from thirteen offices throughout south and west Wales including Swansea, Carmarthen, Haverfordwest and Ammanford.
Business
Dragon LNG explores integration of LNG and CO2 liquefaction processes
DRAGON LNG, based in Waterston, Milford Haven, recently announced a significant step towards sustainable energy solutions.
The company awarded a contract to Worley, global professional services company of energy, chemicals and resources experts, to conduct a comprehensive feasibility study.
The study is focussing on exploring the potential benefits of integrating LNG (Liquefied Natural Gas)
regasification and CO2 (Carbon Dioxide) liquefaction processes at Dragon LNG’s facilities. This integration holds promise for a more efficient operation, with the potential to reduce energy consumption, carbon intensity and the levelized cost of CO2 export not only at the Dragon site but also for Haven industry companies.
If feasible, the technology at Dragon would support wider collaboration with RWE Pembroke Net Zero Centre, whose CO2 would be transported to the Dragon facility for processing before being shipped via non-pipeline transport (NPT) to carbon sequestration sites.
Key aspects to be addressed in the feasibility study include:
- Technical Solutions: Worley will evaluate various technical approaches to seamlessly integrate LNG and
- CO2 liquefaction processes, ensuring optimal energy efficiency and effectiveness.
- Carbon Intensity Reduction: Dragon LNG is committed to sustainability, and the study will assess how the integration of processes can contribute to lowering the carbon intensity of operations, aligning with broader environmental goals.
- Economic Viability: Understanding the financial implications is crucial. The study will delve into the levelized cost of CO2 and other economic factors to determine the feasibility and financial benefits of the proposed integration.
Commenting on the partnership, a spokesperson for Dragon LNG stated, “We are excited to collaborate with Worley on this important initiative. As a responsible energy provider, Dragon LNG is continuously seeking innovative ways to enhance our operations while minimizing our environmental footprint. This feasibility study represents a significant step towards achieving those objectives.”
Worley’s expertise in engineering and consultancy services including in the CO2 and LNG sectors makes them an ideal partner for this endeavour. Their track record of delivering sustainability solutions aligns perfectly with the ambitious goals of Dragon LNG.
This collaboration underscores Dragon LNG’s commitment to driving sustainable practices within the energy sector. By exploring the integration of LNG regasification and CO2 liquefaction processes, the company aims to pave the way for a cleaner, more efficient energy future with their ambition of a net zero terminal by 2029.
-
News6 days ago
Police investigating after woman found dead on beach near Pennar
-
News6 days ago
Police discover body in search for Luke Stephenson, 19
-
News6 days ago
Councillors block Milford Haven boxing event – promoter to appeal
-
News5 days ago
Beautiful, funny and lovely: Family pay tribute to Sian Batchelor
-
Community1 day ago
Joy as Willow rescued by coastguard after 12-day ordeal
-
Business2 days ago
Dragon LNG explores integration of LNG and CO2 liquefaction processes
-
News4 days ago
Body recovered confirmed to be Luke Stephenson, say police
-
News6 days ago
Tigers second division Cup Champions