Drax‘s subsidies are poised for a three-year extension, pending approval from the UK Government for a carbon capture project.

The proposal involves integrating two carbon capture plants with Drax’s existing units in North Yorkshire.

Talks between Drax Group and the government began in March last year, with Chief Executive Officer Will Gardiner expressing readiness for a £2 billion investment programme.

The project aims for completion by 2030.

Energy Live News understands that Energy Secretary Claire Coutinho is expected to finalise the scheme this week, with reports suggesting a consultation to explore subsidy system extension options.

Article source: https://www.energylivenews.com/2024/01/15/drax/