Drax has issued its full year results showing strong performance from the pumped storage and hydro assets and a notably strong recovery in the energy supply business. The company has also set out strong targets for EBITDA post 2027 from its flexible asset portfolio and from pellet sales with more third party sales targeted. The remaining biomass units are currently under consultation for support between 2027 and 2030 when full support for BECCS is likely with recognition of the essential role of these units in contributing to energy security recognised in the consultation paper.
29 Feb 2024
Drax Group - Flexible Assets Drive Performance
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Drax Group - Flexible Assets Drive Performance
Drax Group plc (DRX:LON) | 522 -36.6 (-1.3%) | Mkt Cap: 2,021m
- Published:
29 Feb 2024 -
Author:
Adam Forsyth -
Pages:
7
Drax has issued its full year results showing strong performance from the pumped storage and hydro assets and a notably strong recovery in the energy supply business. The company has also set out strong targets for EBITDA post 2027 from its flexible asset portfolio and from pellet sales with more third party sales targeted. The remaining biomass units are currently under consultation for support between 2027 and 2030 when full support for BECCS is likely with recognition of the essential role of these units in contributing to energy security recognised in the consultation paper.