Monday, April 22, 2024

Drax reveals operating profit of £796m

Drax Group made an operating profit of £796m in the year to December 31st 2023, according to figures just out, up from £78m in the previous year/

Will Gardiner, CEO of Drax Group, said the company performed strongly in 2023, remaining the largest single provider of renewable power by output in the UK, creating a business playing an essential role in supporting energy security.

He said: “Policy support for our UK BECCS project continues to progress and we remain in formal discussions with the UK Government to ensure Drax Power Station can play a long-term role in UK energy security, creating thousands of jobs during construction and helping the country reach Net Zero.

“We have made further progress in our ambition to be a world leader in carbon removals and have visibility of high-quality, long-term earnings to 2042 and a strong balance sheet which supports returns to shareholders and investment in growth, both in the UK and internationally.”

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