Drax Group CEO Will Gardiner responds to unabated coal closure consultation - Drax

Drax Group CEO Will Gardiner responds to unabated coal closure consultation

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”).

Will Gardiner, Drax Group CEO, said:

“It’s great to have further clarity from the government about the future for coal and we look forward to working with them and helping to achieve this goal of making the power sector coal free in 2025.

“As we’ve said before, coal doesn’t have a long term role to play in a low carbon future.

We’ve already seen a dramatic fall in power generation from coal – an 84% reduction in the last five years, and a major shift towards lower carbon technologies. At Drax we’re exploring options for repowering our remaining coal units to use sustainable biomass and gas.”