The Welsh Government has confirmed an increase of £10 million to the available funding for the Development Bank of Wales to help accelerate the decarbonisation efforts of Welsh businesses.
First launched in March 2023, the Green Business Loan Scheme is now being extended to £20 million with funding available until 2028. To date, over 30 Welsh businesses have benefitted from tailored support through the scheme, delivering forecasted carbon savings of more than 28,000 tonnes over the lifetime of their projects. This includes a loan of £3.2 million for Mold-based Thorncliffe Building Supplies to invest in a new wash plant and water treatment system that will reduce the company’s use of landfill.
As one of the largest independent builder’s merchants in North Wales, Thorncliffe Building Supplies provides an extensive range of building, timber, steel, plumbing and heating supplies, and plant hire, along with a waste management and skip hire service. With five sites across North Wales in Dyserth, Ewloe, Rhuddlan, Wrexham and Abergele, Thorncliffe is owned and managed by husband and wife duo Deborah and Tim Harper. Established in 1987, the company now employs 265.
Managing Director Tim Harper said: “We are constantly evolving as a business to diversify and strengthen our customer offering while remaining compliant with regulatory and legislative requirements.
“Reducing waste and cutting our carbon emissions is a key priority for us hence our decision to invest in a new washing plant. This will allow us to process our construction waste and sub-soil on-site rather than use landfill. The facility will wash and sort the waste into different grades of aggregates that can then be re-sold so it’s a win-win all round.”
Cabinet Secretary for Economy, Energy and Planning, Rebecca Evans, said: “This £10m extension to the Green Business Loan Scheme demonstrates the Welsh Government’s commitment to supporting businesses on their journey to net zero. We are ensuring even more firms can access the support they need to reduce their carbon footprint while strengthening their competitiveness.
“With over 30 businesses already benefitting and forecasted carbon savings of more than 28,000 tonnes, there is clearly a strong appetite for sustainable innovation amongst Welsh enterprises who are supporting our ambition to grow the economy.”
Bethan Cousins is New Business Director for the Development Bank. She said: “The success of the Green Business Loan Scheme is a testament to the ambition and innovation of Welsh businesses in tackling climate change.
“Thorncliffe is a great example of how the scheme is helping businesses across Wales to ‘invest to save’ by providing loans with discounted interest rates to make energy efficiency improvements and implement decarbonisation initiatives. This further investment from Welsh Government will ensure we continue driving meaningful change, supporting businesses of all sizes to adopt technologies that reduce emissions and strengthen energy resilience.”
With a simple application process, the Green Business Loan Scheme supports a broad range of energy efficiency and low-carbon technologies, including heating, ventilation, heat pumps, waste management solutions, and building fabric improvements. As part of the scheme, businesses can access support to engage with an energy consultant to assess needs and shape practical decarbonisation strategies.
Upfront capital repayment holidays are available for companies that have been trading in Wales for at least two years as part of an innovative package of support that is aimed at reducing operational costs, managing energy risk, and supporting businesses on their journey to net zero.
