Drax Group has had a busy few months, with several highlights to note. Lord Callanan, Minister for Energy Efficiency and Green Finance, visited Drax Power Station and expressed his support for the company's plans for bioenergy with carbon capture and storage (BECCS), stating that Drax will be a key component for any future CCUS program. Drax is also funding new community projects in the Humber region through the Drax Community Foundation.
New research by Development Economics shows that the development of carbon capture and storage clusters across the UK could contribute significantly to the economy. The report suggests that CCS clusters could add tens of billions of pounds to the UK economy by 2050 and create hundreds of thousands of jobs. The North of England would benefit the most, with an estimated £22 billion added to the economy per year from 2050 and 330,000 new green jobs.
Drax's BECCS project is progressing well. The UK government confirmed that BECCS at Drax passed the delivery assessment for the power-BECCS project submission. The Biomass Strategy published in August also demonstrated clear government support for the role that BECCS can play in achieving the country's climate goals. A July poll showed that 82% of Humber residents agreed that MPs should support the development of BECCS at Drax.
To make BECCS a reality, Drax is awaiting several decisions from the government. With the right support, the company is ready to invest £2 billion to deliver BECCS by 2030. Drax encourages interested parties to follow them on Twitter and LinkedIn for the latest updates on the BECCS project and to visit their website to learn more about the project.