Drax Group CEO agrees with Committee on Climate Change – Sustainably sourced biomass will play an essential, long-term role in delivering the low carbon future needed to meet our climate targets - Drax

Drax Group CEO agrees with Committee on Climate Change – Sustainably sourced biomass will play an essential, long-term role in delivering the low carbon future needed to meet our climate targets

Will Gardiner responds to report, ‘Biomass in a low-carbon economy’

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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”).

“We agree with the Committee on Climate Change – sustainably sourced biomass will play an essential, long-term role in delivering the low carbon future needed to meet our climate targets.

“The UK has some of the highest biomass sustainability requirements in the world and we are committed to working with the government and stakeholders to go further – setting the standard for others to follow. We’re already working on that.

Will Gardiner, CEO, Drax Group

“The report recognises the importance of bioenergy with carbon capture and storage (BECCS) – innovative technology being piloted at Drax. This could enable us to become the first carbon negative power station in the world – meaning our operations would reduce the quantity of CO2 accumulating in the atmosphere.

“Biomass is the only flexible renewable, which can deliver all the support services needed to maintain a secure power system, as more renewables, like wind and solar, come online – further reducing our CO2 emissions.”