Drax is estimating that it is to take a £60 million hit from the impact of COVID-19 as its Customers business feels the bite due to plummeting demand.
According to new analysis by Carbon Brief, in Q3 this year the UK’s windfarms, solar panels, biomass and hydro plants generated 29.5 terawatt hours (TWh) of power, while coal, gas and oil generated just 29.1TWh.
Drax Group is to launch Europe’s first bioenergy carbon capture storage (BECCS) project, claiming that its success could bring ‘carbon negative’ power to North Yorkshire.
Drax Power has hit back at a report which questioned the economic case for biomass, insisting the technology was the “only reliable, flexible” renewable that can be deployed at scale in the UK.