The owner of the Drax power plant in North Yorkshire is expected to move ahead with a $652m deal to double its production of wood pellets after its shareholders voted 99.9% in favour of buying a Canadian biomass company. The deal will accelerate Drax Group’s plans to become a leading biomass electricity generator by substituting wood pellets in place of coal at its power plant – despite warnings from scientists, green campaigners and sustainable investors that burning wood pellets could accelerate the climate crisis. More than 20 environmental organisations, including the sustainable investment group Share Action, wrote an open letter to Drax shareholders in March urging them to vote against the deal. The letter warned that burning more imported wood pellets could accelerate the climate crisis, and increase the company’s contribution to biodiversity loss and the potential for violations of Indigenous people’s land rights.
Guardian 31st March 2021 read more »