Drax Group Drax Group Drax Group plc is a British electrical power generation company. The Group is made up of upstream and downstream enterprises. The principal downstream enterprises are based in the UK and include Drax Power Limited, which runs Europe’s biggest biomass-fuelled power station, Drax power station, near Selby in North Yorkshire – the UK’s largest decarbonisation project, as well as supplying between 7-8 per cent of the country’s electricity needs. Related businesses include Haven Power, a supplier of electricity (including sustainable biomass energy) to business. The group’s largest upstream enterprises are Drax Biomass, which sources sustainable biomass for Drax power
Drax power station M&G UK Companies Financing Fund, £50 million from the UK Green Investment Bank, and £75 million Friends Life (underwritten by HM Treasury), as well as a £400 million credit facility. As of 2013 there were plans to install 1 million tonne per year wood pellets pelletizing plants at Morehouse Parish, Louisiana, and Gloster, Mississippi, which would be shipped by road and rail to the port of Baton Rouge, Louisiana then shipped in 50,000-tonne cargo ships to UK. In the financial report for 2013, Drax announced that an additional 2 million tons pelletisation capacity was being considered, likely to be built