The Drax Group plc has announced financial results for the first half of the year, reporting that biomass now accounts for more than 20 percent of the its output. Both the first converted unit and the enhanced cofiring unit are performing well.
Power station group on track with conversion to low-carbon biomass burning
Drax, the power group in the process of converting coal-fired units to biomass, has been hit by the rising cost of carbon tax.
Half year earnings fell 15% to £102m, and...
A recent regulatory filing made by the Drax Group plc indicates the company could be one step closer to securing an investment contract for a second biomass unit conversion under the Final Investment Decision Enabling (FID Enabling) mechanism.
The EC on Wednesday approved the UK’s framework for fixed-price renewable generation subsidies as well as allowing early awards for offshore windfarms. But it gave no equivalent ruling for biomass projects
High Court says Drax second unit eligible for subsidy, reversing government decision
Drax has won a High Court judgement against the government over subsidies for its power station units.
The company, presently converting its units from coal to...
Drax Biomass is moving its headquarters from Burlington, Massachusetts, to the Atlanta, Georgia, suburb of Sandy Springs. The announcement was made July 8 by the Georgia Department of Economic Development.