Nine different low-carbon and renewable options for the industrial future of one of the UK’s largest oil refineries have been outlined as part of a feasibility study.
Grangemouth oil refinery in Falkirk, Scotland, will be decommissioned by owner Petroineos at some point this year but a new £1.5M study done by EY has outlined nine options to the site for green energy use that are likely to attract private investment. They will also build on its skilled workforce, local expertise and long heritage.
Grangemouth Refinery commenced operation more than 100 years ago when it was opened in 1924 as Scottish Oils.
The feasibility study outlined the benefits of the site as having:
The nine different options for the future of the site fall under three categories: wastes, bio-feedstocks and supporting offshore wind.
The proposals, including the expected development cost, outlined in the feasibility study are below.
Wastes:
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Bio-feedstocks:
Supporting offshore wind:
The goal of converting Grangemouth is known as Project Willow. Stakeholders working on the project believe it could create up to 800 jobs by 2040, grow the economy and deliver on both the UK and Scottish governments’ shared ambition to secure a long term future for Grangemouth.
Details on the options follow prime minister Kier Starmer’s announcement last month of £200M from the National Wealth Fund to adapt Grangemouth. Scotland first minister John Swinney also announced £25M to establish a Grangemouth Just Transition Fund, which will support businesses and stakeholders to bring forward investible propositions over the next 12 months for the site.
Alongside launching a search for investors, both governments have also committed to review the Project Willow policy recommendations and understand how government funding can be deployed to mature proposals from the private sector.
Energy minister Michael Shanks said: “We committed to leaving no stone unturned in supporting an industrial future for Grangemouth delivering jobs and economic growth.
“This report and the £200M investment by the UK government demonstrates that commitment.
“We will build on Grangemouth’s expertise and industrial heritage to attract investors, secure a long-term clean energy future, and deliver on our Plan for Change.”
Scottish secretary Ian Murray said: “The publication of the Project Willow report and the options it sets out marks a significant milestone in our commitment to deliver a long-term, sustainable future for the Grangemouth site which benefits the local community and the Scottish economy.
“Working alongside the Scottish government and local partners, we remain committed to supporting the skilled workforce at Grangemouth, and are already working to attract investors for the projects outlined in this report.”
First minister John Swinney said: “We will leave no stone unturned in order to secure the future of the Grangemouth refinery site, and the Scottish government has already committed or invested a total of £87M to help do so.
“Grangemouth is home to over a century of industrial expertise and employs thousands of highly skilled workers, placing the site at a massive competitive advantage and creating a unique opportunity for investors.
“Everyone working at Grangemouth’s refinery – and in the wider industrial cluster - is a valued employee with skills that are key to Scotland’s economic and net zero future.
“This report sets out a wide range of viable alternatives for the refinery site, demonstrating that a long term, new industrial future at Grangemouth is achievable.
“We will continue to work closely with the UK government to realise these opportunities and Scottish Enterprise stands ready to support inward investors looking to progress any of these technologies.”
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