The company’s corporate goal is to double its biomass pellet production and sales. Drax would increase from 4 million tons per year to 8 million tpa by 2030. In addition, the multinational adds that it will boost sales to third parties.
This information will mean the evolution from 2 to 4 million tpa in the next decade. Therefore, the strategic capital investment is expected to be £3 billion. 3.5 billion € between 2022 and 2030.
Likewise, the company aims to reach 8 million tons per year of negative CO2 emissions by 2030.
“Drax has made excellent progress during 2021, providing a firm foundation for further growth,” said Will Gardiner, Drax CEO.
“We have advanced our BECCS project, a vital part of the East Coast Cluster that was recently selected to be one of the UK’s two priority CCS projects.
Gardiner added that Drax will continue to make efforts to achieve the UK’s net zero target. As such, the company will target markets such as Asia and Europe because of the increasing demand for biomass.
At the moment, Drax has 13 pellet plants in operation with a capacity of 4 million tons per year. It also has two additional plants that are in the expansion phase.
With the goal of reaching 8 million tons by 2030, the company will need to develop more than 3 million tons of new biomass production capacity.
Source
Bioenergy Insight. 2021. Drax aims to double pellet production, sales by 2030. [online] Available at: <https://www.bioenergy-news.com/news/drax-aims-to-double-pellet-production-sales-by-2030/> [Accessed 14 December 2021].