Drax to acquire a 90k tonnes Canadian pellet plant of PSPC.

Drax, a power generation business, agreed to acquire a 90k tonnes Canadian pellet plant of PSPC. Financial terms were not disclosed. “We look forward to welcoming the Princeton pellet plant team to Drax Group as we continue to build our global pellet production and sales business, supporting UK security of supply and increasing pellet sales to third parties in Asia and Europe as they displace fossil fuels from energy systems. Drax’s strategy to become a world leader in sustainable biomass, supports international decarbonisation goals and puts Drax at the heart of the global, green energy transition,” Will Gardiner, Drax Group CEO.