![]() Some analysts are skeptical about the case for high public spending on what they see as an unproven technology. Stateside observers will be watching to see how Drax's fortunes play out. But in 2027, government funding for energy generation that produces "unabated" emissions will end-meaning carbon capture tech must be added if Drax is to remain profitable.Īll these implications stretch beyond Britain's shores: in the U.S., the Inflation Reduction Act's tax credits for BECCS are luring investors toward the technology. power sector that year.įor an energy company that markets itself as renewable, being the U.K.’s largest carbon emitter is not a great look, which makes BECCS all the more attractive-if it works.īut there's a financial incentive, too: Drax benefits from hundreds of millions of pounds in government support, having received around £1.4 billion ($1.8 billion) in subsidies up until last year. But burning that biomass makes Drax the single largest emitter of CO2 in the country, with the Selby-based plant releasing 12.1 million tons of the greenhouse gas in 2022, equivalent to nearly 20% of the total CO2 emissions from the U.K. There's a lot riding on Drax's success or failure with BECCS: the plant provides up to 12% of the U.K.’s electricity by burning wood pellets that the company says come from material the forestry industry cannot use. Noting that Drax has an aspiration to make up 80% of its supply chain and products from British sources, Gwilliam tells me the plan is “absolutely a Yorkshire-based project that will deliver for the U.K.” at the center of the fight against climate change,” says Richard Gwilliam, BECCS program director at Drax. government are keen to showcase the BECCS project as a British success story. ![]()
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