Welsh Government Doubles Green Loan Fund Delivered by Development Bank of Wales to £20m

The Development Bank of Wales has received a significant funding boost to help more Welsh firms on their journey to net zero, with the Welsh Government increasing its Green Business Loan Scheme to £20 million.

Launched in 2023, the scheme offers tailored financial support to businesses investing in decarbonisation and energy efficiency improvements. The newly announced £10 million top-up extends the scheme’s funding through to 2028.

To date, more than 30 businesses across Wales have accessed the scheme, with projected carbon savings exceeding 28,000 tonnes over the lifetime of their projects.

One such business is Mold-based Thorncliffe Building Supplies, which has secured a £3.2 million loan to install a new wash plant and water treatment system aimed at significantly reducing landfill usage. The investment allows the company to process construction waste and sub-soil on-site, converting it into reusable aggregates.

Founded in 1987 and employing 265 staff across five North Wales locations, Thorncliffe is one of the largest independent builder’s merchants in the region. The company is owned and managed by Deborah and Tim Harper.

Tim Harper, Managing Director at Thorncliffe, said:

“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.”

The Green Business Loan Scheme is delivered by the Development Bank of Wales, which is wholly owned by the Welsh Government.

Rebecca Evans, Cabinet Secretary for Economy, Energy and Planning, commented:

“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.”

Bethan Cousins, New Business Director at the Development Bank, added:

“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.”