UK’s Drax to invest up to $12.5 billion in US biomass power plants
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 24 2024
0mins
Source: Reuters
Drax's Investment Plans: Drax is planning to invest up to $12.5 billion in developing biomass plants with carbon capture and storage (BECCS) in the U.S. over the next decade, while also maintaining its commitment to the UK market.
Environmental Concerns and Carbon Credits: The company aims for its BECCS technology to be carbon negative, generating carbon removal credits, despite criticism from green groups regarding the sustainability of biomass power generation and potential deforestation issues.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
