26 Sep '12, 2pm

Biggest English Polluter Spends $1 Billion to Convert Coal Plant to Biomass

Biggest English Polluter Spends $1 Billion to Convert Coal Plant to Biomass

Drax Group Plc will spend $1 billion to turn the U.K.’s biggest coal-fired plant into western Europe’s largest clean- energy producer. The utility plans to convert one of the site’s six units to burn wood pellets by June, said Chief Executive Officer Dorothy Thompson. It intends to switch two more units to wood at a later date, investments that if completed will see it harvest a forest four times the size of Rhode Island each year. “We see a key part of our future as converting from essentially a coal station to a biomass station,” Thompson said in an interview in London. “It will take Drax from being the largest carbon emitter by site in the U.K. to being, probably, one of the largest renewable plants in the world.” Drax jumped as much as 13.9 pence, or 2.7 percent, to 522 pence in London. The stock, which began trading without the right to a 14.4-pence dividend today, wa...

Full article: http://www.renewableenergyworld.com/rea/news/article/2012...

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