Prime Highlights:
- The UK Government will invest £14.5 million in Grangemouth to support its shift into a clean energy hub.
- The funding aims to create jobs and support the local community during the transition to sustainable energy.
Key Facts:
- Grangemouth halted production in April, resulting in over 400 job losses, with further voluntary and compulsory redundancies.
- The Scottish Government has previously invested £25 million in the Grangemouth Just Transition Fund to support the local community.
Background:
The UK Government is set to invest up to £14.5 million into the Grangemouth site in Falkirk to support its transformation into a clean energy hub.
The refinery, which has been operational for over a century, will shift its focus to becoming an import hub for finished fuels after operators deemed continued refinery operations financially unsustainable.
Earlier this year, Grangemouth stopped production in April, resulting in over 400 job losses, with more staff leaving through voluntary and compulsory redundancies. In June, the Scottish Government provided £25 million to the Grangemouth Just Transition Fund to help the local community.
Chancellor Rachel Reeves said the UK Government will invest £14.5 million in Grangemouth as part of the budget to support local communities in the move toward clean energy. A Treasury spokesperson said, “This funding will help the community get started and take part in the move to clean energy. These investments will deliver a fair transition and secure jobs for local people well into the future.”
This announcement builds on earlier commitments, including £200 million from the National Wealth Fund and £100 million from the Falkirk and Grangemouth Growth Deal. The UK Government has also invested £17.3 million in the Aberdeen Energy Transition Zone and is supporting Scotland’s clean energy industries through strategic initiatives.
A spokesperson from the Scotland Office said they are focused on ensuring Grangemouth has a strong future. The investment will provide good jobs for local people and support Grangemouth’s role in Scotland’s clean energy plans.
This funding will help make Grangemouth a clean energy hub and create local jobs.
