In a recent interview, Energy Minister Michael Shanks expressed optimism that positive announcements will follow soon, revealing that over 80 potential investors have come forward. The Government is seeking an additional £600 million in private funding to support the redevelopment of the area into a modern energy and industrial hub.
The refinery’s closure, led by Petroineos due to daily financial losses, resulted in more than 400 job losses and the site’s transition to a fuel import terminal.
Scottish Enterprise and Project Willow – a government-funded report exploring alternative uses for the site – are now central to shaping Grangemouth’s future. A number of viable near-term investment projects are under active consideration as the region repositions itself at the forefront of Scotland’s energy transition.
Project Willow has outlined future potential for the site in areas such as sustainable aviation fuel – regarded by government as a key part of the energy transition. Describing some of the proposals as “really exciting, viable projects”, Michael Shanks said they would help create “the jobs of the future,” and Jan Robertson of Scottish Enterprise confirmed that some of the inquiries have good potential to become active projects in the next three to four years.
While exact details remain under wraps due to ongoing due diligence, energy-related projects – particularly in sustainable fuels – are highly likely to be part of Grangemouth’s future.
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