On 16 October 2018, Drax Group plc (“Drax” or the “Company”) announced that it had entered into a binding conditional agreement to purchase Scottish Power’s portfolio of pumped storage, hydro and gas-fired generation for £702 million in cash from Iberdrola (the “Acquisition”).
By Dr Iain Staffell, Dr Malte Jansen, Imperial College London; and Adam Chase, Eloise Cotton, Chester Lewis, E4tech
Drax today announces that it has reached agreement with Iberdrola on revised terms for the acquisition of Scottish Power’s portfolio of pumped storage, hydro and gas-fired generation (the “Portfolio”) at the previously agreed price of £702 million in cash (the “Acquisition”), subject to Drax shareholder approval.
Step into the vast, eerie structures at the heart of Drax Power Station.
Energy and Clean Growth Minister Claire Perry has visited Drax Power Station’s bioenergy carbon capture and storage (BECCS) pilot plant.
Planting, sinking, extracting – some of the ways to absorb carbon from the atmosphere.
