Drax ditches plans for gas-fired power plants in climate push
British power generator Drax has abandoned plans for new gas-fired power plants as it strives to become carbon negative by 2030.
The UK firm had proposed to replace its existing coal units with gas-fired alternatives, but the company backed out in a statement on Thursday.
Britain is aiming to close all coal-fired power plants by 2024 as part of efforts to meet its climate target of net zero emissions by 2050.
Drax has already converted four of its six coal units to use sustainable biomass.
The remaining units are set to close by the end of March 2021.
‘Against company strategy’
Will Gardiner, CEO of Drax, said that developing new gas plants would not fit with the company’s strategy.
“Our carbon intensity is one of the lowest of all European power generators,” he said.
“We aim to be carbon negative by 2030 and are continuing to make progress.”
Results
Drax reported a £235m loss before tax in 2020 after taking a £60m pandemic hit.
The company said the blow came mainly from its customer business which sells power, gas and energy services to SMEs.