Drax will acquire a further 130,000 tonnes of biomass pellet capacity through the acquisition of minority stakes in projects owned by Pinnacle Renewables. While marginal (c.3%) of capacity, it makes sense to add where it can. We see the global bioenergy carbon capture and storage market as a major opportunity for Drax and all new capacity should benefit the company.
01 Jul 2021
Drax Group - Minority Acquisiton Adds Capacity
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Drax Group - Minority Acquisiton Adds Capacity
Drax Group plc (DRX:LON) | 500 0 0.0% | Mkt Cap: 1,924m
- Published:
01 Jul 2021 -
Author:
Adam Forsyth -
Pages:
6
Drax will acquire a further 130,000 tonnes of biomass pellet capacity through the acquisition of minority stakes in projects owned by Pinnacle Renewables. While marginal (c.3%) of capacity, it makes sense to add where it can. We see the global bioenergy carbon capture and storage market as a major opportunity for Drax and all new capacity should benefit the company.