Drax has sold on Drax Generation Enterprise to VPI Holdings, passing on its four CCGT plants in the process. This £193.3 million sale means Drax is “focusing on flexible and renewable generation”, according to CEO Will Gardiner. The company is to retain its pumped storage and hydro assets, which are to be transferred out of Drax Generation Enterprise prior to the completion of the transaction, which is set to happen by 31 January 2021. Gardiner pointed to the bioenergy with carbon capture and storage (BECCS) the company is developing at the Drax Power Station as part of the Zero Carbon Humber project, stating that 50,000 new jobs could be created and supported through this.
Current 16th Dec 2020 read more »