Drax sets its sights on the future
Drax recently announced it had agreed the acquisition of Princeton Standard Pellet Corporation. What are the benefits of this?
"This acquisition adds another pellet plant to our portfolio in Canada, where we already have nine pellet plants and access to two ports for export.
"The plant we have acquired, which has been operating since 1995, has the capacity to produce 90,000 tonnes of wood pellets a year, primarily from sawmill residues. The plant is located close to our Armstrong and Lavington plants and the port of Vancouver in British Columbia.
"Having the additional output from the Princeton pellet plant will help contribute to our strategy to increase pellet production capacity to eight million tonnes a year by 2030 from around five million tonnes a year now.
'We expect demand for sustainable biomass to increase as countries look to decarbonise their energy systems. We already have over $4 billion (€3.9bn) of long-term...