Drax power station build a 626 MW oxygen-fuelled combustion power station adjacent to the existing Drax site. National Grid would simultaneously construct a pipeline to transport to the Yorkshire coast for sequestration. In July 2014 the project was awarded €300 million funding from the European Commission. In September 2015 Drax announced it would not be making any further investments into the CCS scheme after completion of the feasibility study because negative changes to government support for renewable energy had made the project too financially risky, plus drops in the company's share price due to the same uncertainty had reduced Drax's ability to raise
Drax Group underwent a re-financing and shares in Drax Group plc were listed on the London Stock Exchange for the first time. In 2009, Drax Group acquired Haven Power – enabling it to sell electricity directly. In 2015, the Group acquired Billington Bioenergy, specialists in providing sustainable biomass pellets for domestic energy systems. In 2016, Drax Group acquired Opus Energy for £340 million funded by a new acquisition debt facility of up to £375 million. In October 2017, Drax sold Billington Bioenergy for £2 million to an AIM-listed energy company. Drax Group’s key asset is Drax Power Station. Originally built, owned and