Bahamas drax group company

Who is Drax Group?

Drax Group is a renewable energy company engaged in renewable power generation, the production of sustainable biomass and the sale of renewable electricity to businesses. Drax operates a generation portfolio of sustainable biomass, hydro-electric and pumped hydro storage assets across four sites in England and Scotland.

Is Drax Group a carbon negative business?

Explore a comprehensive guide to our business model and investor relations. Drax Group’s ambition is to become a carbon negative business by 2030, through innovative greenhouse gas removal technology. Drax CEO, Will Gardiner, outlines how carbon removals technology can support energy security while tackling climate change.

Did Drax buy Opus Energy?

In 2016, Drax Group acquired Opus Energy for £340 million funded by a new acquisition debt facility of up to £375 million. In October 2017, Drax sold Billington Bioenergy for £2 million to an AIM-listed energy company called Aggregated Micro Power Holdings.

Who owns Drax Power Station?

In 1990, the electricity industry of England and Wales was privatised under the Electricity Act 1989. Three generating companies and 12 regional electricity companies were created. As a result of privatisation, Drax Power Station came under the ownership of National Power, one of the newly formed generating companies.

What is Drax Group's key asset?

Drax Group's key asset is Drax Power Station. Originally built, owned and operated by the Central Electricity Generating Board (CEGB), Drax Power Station was constructed and commissioned in two stages. Stage one (units 1, 2 and 3) was completed in 1974.

When did Drax Group acquire Haven Power & Billington Bioenergy?

In 2009, Drax Group acquired Haven Power – enabling it to sell electricity directly. In 2015, the Group acquired Billington Bioenergy, specialists in providing sustainable biomass pellets for domestic energy systems.