Drax Boosts Biomass Spending and Eyes New US Power Plants (1)

Drax Group Plc increased its spending plan on new biomass technology to £7 billion pounds ($8.7 billion) to mainly take advantage of opportunities in the US market.

The move is a further sign that Drax, which already operates several pellet plants in the US, is increasingly attracted by President Joe Biden's generous subsidy programs for green energy. The firm, which started out as a giant coal-fired plant in northern England before converting most of its units to biomass, had earlier earmarked £3 billion to spend between 2024 and 2030 on new biomass technology.

The British firm is establishing a "global ...

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