Drax Discusses Future Plans During Investor Presentation
Reducing the cost of wood pellet production, finishing two capacity expansions and overhauling a recently acquired plant are just a few of the many focuses drax ceo dorothy thompson discussed during the company’s recent investor presentation to discuss half year result for six months ending june 30. Enabling a zero carbon, lower cost energy future our strategy we will build a long term future for sustainable biomass we will be the leading provider of power system stability we will give our customers control of their energy to be a carbon negative company by 2030 our ambition. Results presentation and webcast arrangements . management will host a webcast presentation for analysts and investors at 9:00am (uk time), thursday 25 february 2021. the presentation can be accessed remotely via a live webcast link, as detailed below. after the meeting, the webcast. Drax investor relations: mark strafford 44 (0) 7730 763 949. media: drax external communications: ali lewis 44 (0) 7712 670 888 royal bank of canada (financial adviser and joint corporate broker): 44 (0) 20 7653 4000 peter buzzi mark rushton evgeni jordanov jonathan hardy jack wood. acquisition presentation meeting and webcast arrangements. Progressing plans to create a long term future for sustainable biomass • targeting five million tonnes of self supply at £50 mwh (4) by 2027 from expanded sources of sustainable biomass plan for $64 million ($35 t, £13 mwh (4) ) annual savings on 1.85mt by 2022 vs. 2018 base.
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Will gardiner, drax group ceo, said: “drax’s purpose is to enable a zero carbon lower cost energy future. we believe sustainable biomass has a long term critical role to play. that’s why we plan to supply 80 percent of our biomass from our own sources – a significant increase on the 20 percent we currently self supply. During an investor presentation to discuss the results, dorothy thompson, chief executive of drax, noted the first half of the year represents the first time the company has reported on the converted unit while it was running on properly scoped systems. Drax was initially conceived by the central electricity generating board (cegb) in 1962 as the country's largest power station thus far, at about 3,000 mw. subsequently, it was decided to use this opportunity as their first station to use the 660 mw turbogenerator sets which were planned to become the new standard, so the planning consents were revised to about 4,000 mw.
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