Drax Group CEO Will Gardiner responds to European Parliament REDII vote - Drax

Drax Group CEO Will Gardiner responds to European Parliament REDII vote

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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”).

Will Gardiner, Chief Executive of Drax Group, said:

“Biomass is playing a vital role in decarbonising our electricity system, providing sustainable, reliable low carbon power for millions of homes and businesses. We are pleased the EU Parliament has recognised the important part biomass plays and we look forward to the next stage of the legislative process and further progress on the introduction of robust, workable sustainability criteria.”