UK electricity generator Drax Group rose sharply after earnings beat analyst expectations, although questions remain around the outcome of a government consultation on continued biomass subsidies.
Carbon emissions captured from the Drax Power Station bioenergy units will be stored offshore as part of the Northern Endurance Partnership CCS project led by BP and Equinor.
Drax Group Plc will shelve its plans to build a large-scale gas plant as the utility seeks to exit coal and position itself as a green generator, according to a person with knowledge of the matter.
Cutting-edge green energy technologies in the Yorkshire and Humber region could create thousands of jobs and boost the economy, according to a report for the owner of the UK's largest power station.
British companies are preparing for the UK government to decide how to spend more than $1 billion on infrastructure capable of capturing and burying millions of metric tons of carbon dioxide pollution.
One in three businesses has been hit by power cuts in the past year, highlighting how the UK's electricity supply has become "unreliable", a new study suggests.
Creating the "world's first net zero carbon industrial cluster" could help protect thousands of jobs and make a major impact to cutting emissions, its backers said.