Showcasing the Best of Welsh Business


£50,000 To Power Growth Of Renewable Energy Firm

£50,000 i Bweru Twf Cwmni ynni Adnewyddadwy



Renewable energy specialists Green Heat Wales are expanding their range of services to meet the growing demand for solar, biomass and heat pump energy generation.

A £50,000 micro loan from the Development Bank of Wales will be used as working capital to help finance the purchase of additional stock and support cashflow.

Established by James Portsmouth in 2009, Green Heat Wales has showrooms in Tongwynlais and Brecon. Live products on show include Solar PV, pellet boilers, wood burning stoves and thermal storage. Led by James as Managing Director along with Directors Benjamin Cloke and Nathan Pring, the six strong team also provides traditional plumbing and heating services including boiler and bathroom installation.

Kelly Jones, DBW, with Nathan Pring, Nick Lancaster and James Portsmouth of Green Heat Wales

Director James Portsmouth is a returning customer of the Development Bank. He said:

“We are absolutely focussed on helping our customers to lower their carbon footprint and reduce their fuel bills. Our team is trained in all types of renewable energy as well as conventional plumbing so can advise on the integration of new technologies in existing properties with minimum fuss.

“Our aim is to provide advice on the supply, installation and commissioning of renewable energy systems throughout Wales for both domestic and commercial customers. Sufficient working capital is essential to being able to keep up with demand so we’re grateful to the Development Bank for stepping in so quickly. Their finance will help us to scale up and expand knowing that we have the cashflow to invest in stock ready for installation.”

Kelly Jones is a Portfolio Executive with the Development Bank of Wales She said:

“It’s really important to us that we are supporting our customers, sustainable growth and the transition to a strong green Welsh economy. We want the best for Wales which is why we’re providing capital  for businesses like Green Heat Wales that are delivering green services and products for the people of Wales.”

The loan came from the £204 million Wales Business Fund which is financed by the European Regional Development Fund and the Welsh Government. Loans, mezzanine finance, and equity investments are available for deals between £50,000 and £2 million with terms ranging from one to seven years for small and medium-sized businesses (those with fewer than 250 employees) based in Wales, or willing to relocate to Wales.


The Development Bank of Wales funds businesses that they think will benefit Wales and its people. The ones that will create ripples of growth- those that are more than a good business model or a great idea. They finance responsible businesses – those with a strong social, ethical and environmental standards, as well as real commercial promise.

By providing sustainable, effective finance where options have seemed limited, they bring ambitions to life and fuel possibilities for people, businesses and communities in Wales and beyond.

The Development Bank’s ‘big picture’ view means it can often help with debt and equity finance when options seem limited, doing whatever it takes to make a positive difference, bringing together the right people and working collaboratively to find a way to make things happen for Welsh businesses and for Wales.

Its teams are embedded in local communities, working out of regional offices that give customers direct access to key decision-makers and signposted avenues of support. They understand what’s happening in Wales’ villages, towns and cities – the challenges and the opportunities. They see the potential for business growth as a catalyst for enhancing lives and communities in Wales and beyond.

For more information, visit the Development Bank website at to find out more.


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