DRAX has underlined its belief in the long term potential of the assets it acquired in Scotland in a £702 million deal in October after Scottish Power lost interest in them. The portfolio includes a giant reservoir-based power generator in Argyll, the Lanark and Galloway hydro-electric facilities on rivers in South West Scotland and a biomass fuel plant near Glasgow, along with four gas-fired power stations in England. Spanish-owned Scottish Power has decided the best prospects lie in wind power as it responds to the shift to clean energy. However, the head of Drax’s generation operations, Andy Koss, said the assets bought from Scottish Power would help it support the move to renewables. Drax expects the hydro-electric generating assets bought from Scottish Power to have long remaining lives as they have been well invested in. It is particularly excited about the potential of the Cruachan pumped-storage facility in Argyll, one of only four in the UK, to provide support to the evolving power system in Scotland.
Herald 14th Jan 2019 read more »