Drax Group plc (DRX.L)
- The Guardian
Drax is expected to profit from UK energy crisis until 2023
Company’s shares hit seven-year high after revealing plans to invest £3bn despite questions over biomass
- Reuters
UK's Drax to double biomass production capacity, sales by 2030
British power generator Drax aims to double its sustainable biomass production capacity and sales of the product by 2030, to capitalise on increasing demand from Europe and Asia as countries look to move away from coal. Drax, whose power stations provide around 6% of Britain's electricity, said it was targeting biomass pellet production of 8 million tonnes per annum (Mtpa) by 2030, compared with current production of 4 Mtpa. Strategic capital investment is expected to be around 3 billion pounds between 2022 and 2030, Drax said, as the new target will require over 3 Mt of new biomass pellet production capacity and other carbon capture facilities.
- Simply Wall St.
Drax Group (LON:DRX) shareholders have earned a 17% CAGR over the last five years
Generally speaking the aim of active stock picking is to find companies that provide returns that are superior to the...
