Satisfaction / waiver of conditions in relation to the proposed acquisition of Pinnacle Renewable Energy Inc.
One of the UK’s largest rail freight operators, DB Cargo UK will operate an average of 60 trains per week from the ports of Immingham and Hull to Drax Power Station in Selby, Yorkshire.
Each train will carry around 1,650 tonnes of sustainable biomass to Drax Power Station, which provides flexible and reliable renewable power for millions of UK homes and businesses.
Drax supplies 12% of the UK’s renewable electricity. Using sustainable biomass instead of coal at Drax Power Station has reduced emissions by more than 80% and helped the UK power system decarbonise faster than any other country.
Roger Neary, Head of Sales at DB Cargo UK, said:
“We are delighted that Drax has chosen to extend our existing contract with them for another five years. We are proud of the important role our people continue to play in delivering an efficient and sustainable source of renewable energy for use here in the UK.”
Mike Maudsley, UK Portfolio Generation Director at Drax, said:
“These rail deliveries are a critical part of our global supply chain for sustainable biomass that supports thousands of jobs and has delivered economic growth across the north of England, while supplying renewable electricity to millions of homes and businesses.
“We’re very pleased to extend our existing contract with DB Cargo UK for another five years and look forward to continuing to work with the team.”
Drax Group’s purpose is to enable a zero carbon, lower cost energy future and in 2019 announced a world-leading ambition to be carbon negative by 2030.
Its 2,900-strong employees operate across three principal areas of activity – electricity generation, electricity sales to business customers and compressed wood pellet production.
Drax owns and operates a portfolio of flexible, low carbon and renewable electricity generation assets across Britain. The assets include the UK’s largest power station, based at Selby, North Yorkshire, which supplies five percent of the country’s electricity needs.
Having converted two thirds of Drax Power Station to use sustainable biomass instead of coal it has become the UK’s biggest renewable power generator and the largest decarbonisation project in Europe.
Its pumped storage, hydro and energy from waste assets in Scotland include Cruachan Power Station – a flexible pumped storage facility within the hollowed-out mountain Ben Cruachan. It also owns and operates four gas power stations in England.
Through its two B2B energy supply brands, Haven Power and Opus Energy, Drax supplies energy to 250,000 businesses across England, Scotland and Wales.
Drax owns and operates three pellet mills in the US South which manufacture compressed wood pellets (biomass) produced from sustainably managed working forests. These pellet mills supply around 20% of the biomass used by Drax Power Station in North Yorkshire to generate flexible, renewable power for the UK’s homes and businesses.
For more information visit www.drax.com