By Anthony O. Goriainoff


Drax Group PLC said Thursday it has been invited to enter formal bilateral discussions with the U.K. government regarding the deployment of large-scale bioenergy with carbon capture and storage projects by 2030.

The U.K. electricity-generation company said its Drax power station BECCS project--which could support to U.K. in achieving its emissions targets--passed the deliverability assessment for the submission process.

"With the right engagement from government and swift decision making, Drax stands ready to progress our 2 billion-pound ($2.46 billion) investment program and deliver this critical project for the U.K. by 2030," Chief Executive Will Gardiner said.

Shares at 0947 GMT were down 3.00 pence, or 0.6%, at 571.50 pence.


Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com


(END) Dow Jones Newswires

03-30-23 0621ET