Drax Advances Biomass Strategy with Acquisition of Pinnacle | Durability

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Recently completed Drax ‘ acquisition of Pinnacle more than doubles its capacity for sustainable biomass production and drastically reduces its cost of production, he reported in a commercial update.

The Group’s extended supply chain will have access to 4.9 million tonnes of operational capacity from 2022. Of this total, 2.9 million tonnes are available for Drax’s self-supply needs in 2022, which will increase to 3.4 million tonnes in 2027.

£ 424million acquisition of Canadian biomass pellet producer supports Drax ‘ ambition to be carbon negative by 2030, using Bioenergy with Carbon Capture and Storage (BECCS) and will make a ‘significant contribution’ to the UK by reducing emissions by 78% by 2035 (click here).

CEO of Drax Will gardiner said its first quarter performance was “robust”, supported by the sale of Drax Generation Enterprise, which owns four CCGT plants, to Generation VPI.

This summer, Drax will undertake maintenance on its CfD (2) biomass unit, including a high pressure turbine upgrade to reduce maintenance costs and improve thermal efficiency, thus helping to lower production costs for Drax Power Plant.

In March, Drax entered into capacity market agreements for its hydroelectric and pumped storage assets worth around £ 10million for delivery from October 2024 to September 2025.

The limits of BECCS are not the technology but the supply, each gigatonne of CO2 stored per year requiring around 30 to 40 million hectares of BECCS raw material, according to the CCS World Institute. Nonetheless, BECCS should be seen as an essential complement to the necessary and large-scale deployment of CCS to achieve climate change goals, he concludes.



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