UK approves carbon capture scheme at Drax power station – Telegraph – January 08, 2024 at 12:48 pm

(Allianz News) – Trax, Britain's once “dirty” coal-fired power station, will receive approval from the British government for a multibillion-dollar project to capture carbon dioxide, according to a report in Monday's Telegraph.

Despite opposition from the Greens, Britain's Energy Secretary Claire Coutinho will approve a plan to equip four power station units at a North Yorkshire power station with two massive carbon capture facilities, the Telegraph reported.

The project has angered environmentalists who are already angry about Drax's switch to wood instead of coal.

https://www.telegraph.co.uk/business/2024/01/06/coal-power-station-drax-approval-net-zero-carbon-capture/

The Telegraph reports that Coutinho will also begin a consultation on how best to extend the subsidy scheme, which saw Drax receive £617m from consumer bills last year.

The plan expires in 2027, so Coutinho will propose extending it until at least the 2030s, according to the Telegraph, to keep Drax in business for a few more years.

Shares in Trax Group plc rose 6.5% to 521.60 pence in morning trading in London on Monday in response to the news.

Just before Christmas, the Yorkshire-based renewable energy company described the UK government's update on the development of carbon capture, use and storage clusters as a “significant step” towards the large-scale use of biomass energy with carbon capture and storage.

In its announcement, the government reiterated its target of capturing at least 5 million tonnes of greenhouse gases per year by 2030. This amount could increase to 23 MtCO2/year by 2035 and 81 MtCO2/year by 2050.

By Greg Rosenwing, senior correspondent for Alliance News

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