Drax power sales ahead
DRAX today said it had enjoyed good trading conditions so far this year and has made further power sales for 2014.
In an interim management statement, the Yorkshire power station operator said that it had made “encouraging progress” with its plans to convert to sustainable biomass fuel to generate electricity.
Its first unit burning biomass in place of coal was converted at the start of April and Drax said it was pleased with the results so far.
The group has now completed contracts for two pellet plants in the USA and construction will begin in the summer with operations due to start in the winter of 2014 and full capacity six months later.
Last month Drax announced Government backing for funding for its plans to convert from coal to biomass fuelled power generation.
The power station operator agreed a £75m loan guaranteed by the Treasury under the Infrastructure UK Guarantee Scheme and will replace £50m of the £100m loan facility it agreed with the Green Investment Bank in December.
