CEO Dorothy Thompson comments on Forest2Market report showing increasing demand for wood fibre leads to forest growth - Drax

CEO Dorothy Thompson comments on Forest2Market report showing increasing demand for wood fibre leads to forest growth

Top Stories
Publication of Circular and Notice of General Meeting in relation to proposed acquisition of flexible, low-carbon and renewable UK power generation from Iberdrola
5th December 2018

Publication of Circular and Notice of General Meeting in relation to proposed acquisition of flexible, low-carbon and renewable UK power generation from Iberdrola

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”).

Dorothy Thompson, Drax Group CEO, said:

“The findings from this independent report are significant.  The research focuses on the US South where we source the majority of the compressed wood pellets we use to produce 16% of the UK’s renewable electricity – enough to power four million homes.

“It demonstrates quite clearly that the forests in this region are growing – not declining. And Forest2Market’s analysis also shows that having a healthy market for forest products incentivises landowners to grow more trees, which in turn increases productivity and the carbon storage in these forests.

“Our operations are therefore contributing not only to reducing emissions, but also in ensuring these forests grow and provide more economic security for local people.”

Read the full report: Historical Perspective on the Relationship between Demand and Forest Productivity in the US South. An At A Glance version plus an Executive Summary are also available as a separate documents.