Drax Group forecasts yearly earnings up to £1.04bn, focusing on biomass energy and future sustainable fuel projects.

Drax Group, a major UK biomass power operator, forecasts full-year earnings between £993m and £1.04bn, driven by strong performances in electricity and pellet businesses. CEO Will Gardiner highlighted the company's role in the UK's energy transition, including plans for sustainable aviation fuel and a new carbon removals business. Drax is awaiting clarity on UK government energy policies before making further investments, particularly regarding power station operations and BECCS conversions.

4 months ago
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