Drax investment in the US raises questions over the Government’s net zero approach - The Yorkshire Post says

Drax is increasing its total potential investment in the technology to £7bn between 2024 and 2030.

This comes after Drax failed to be selected for “Track 1” Government support in March for its plans to further develop carbon capture and storage (CCS) at its North Yorkshire site.

Drax had previously outlined a fully funded plan to invest around £3.bn into two BECCS units at its Yorkshire power station.

While it still hopes to secure future Government funding for its Yorkshire plan, it’s telling that the power producer cited the “supportive investment environment” created by the US Inflation Reduction Act as a factor in its decision to undertake the investment in two new BECCS plants across the Atlantic.

It begs the question, what is the British Government doing to tackle climate change in a meaningful way? President Joe Biden’s measures show proactivity that is seemingly lacking here in the UK. Leaving the country at risk of falling behind.

If the Government has reservations about the environmental credentials of the biomass element of carbon capture, then it should be clear about it.

This announcement from Drax just highlights the economic opportunities that are available in the drive to Net Zero. And is also a reminder that the Government cannot afford to turn its back on expertise in this region.