Drax to Start Talks With UK Government on Bioenergy Projects

By Anthony O. Goriainoff

Drax Group PLC said Thursday it has been invited to enter formal bilateral discussions with the U.K. government regarding the deployment of large-scale bioenergy with carbon capture and storage projects by 2030.

The U.K. electricity-generation company said its Drax power station BECCS project--which could support to U.K. in achieving its emissions targets--passed the deliverability assessment for the submission process.

"With the right engagement from government and swift decision making, Drax stands ready to progress our 2 billion-pound ($2.46 billion) investment program and deliver this critical project for the U.K. by 2030," Chief Executive Will Gardiner said.

Shares at 0947 GMT were down 3.00 pence, or 0.6%, at 571.50 pence.

Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com

(END) Dow Jones Newswires

March 30, 2023 06:21 ET (10:21 GMT)

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