Publication of Circular and Notice of General Meeting in relation to proposed acquisition of flexible, low-carbon and renewable UK power generation from Iberdrola
Dorothy Thompson, Drax Group CEO, said:
“The UK electricity market has passed a tipping point and we welcome this timely announcement from Greg Clark. The way electricity is generated, supplied and used is changing rapidly and our power system needs to change at the same pace. The Faraday Challenge is a particularly exciting initiative that will unlock a new wave of innovation and, critically, new skills for the evolving power system.
“The Government has made it clear that energy is at the heart of its Industrial Strategy. Battery storage and smarter technologies will be a key part of the energy mix needed to deliver the new electric revolution to the UK’s homes and businesses. Flexible electricity is at the core of our strategy and we look forward to working with the Government as a strategic partner, turning new ideas into action.”