October 16, 2018

...AND CHEAPER...:

Scottish Power shifts to 100% wind generation after £700m Drax sale (Adam Vaughan, 16 Oct 2018, The Guardian)

Scottish Power has become the first of the UK's big six energy firms to ditch fossil fuels for electricity generation, by selling off its last remaining gas power stations to Drax for more than £700m.

Iberdrola, Scottish Power's Spanish parent company, said the move was part of its strategy to tackle climate change and would free it up to invest in renewables and power grids in the UK. The deal also marks a significant expansion and diversification for Drax, whose main business is a coal- and biomass-fired power station in North Yorkshire.

Included in the £702m sale are four gas power stations in England, two hydro schemes and a pumped storage plant in Scotland. That leaves Scottish Power producing all its power from windfarms. While it has many onshore, the firm's growth is in offshore windfarms, including East Anglia One, which should take the crown of the world's largest when it opens in 2020.




Posted by at October 16, 2018 4:00 AM

  

« THERE ARE NO EXTERNAL THREATS: | Main | ALL COMEDY IS CONSERVATIVE: »