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United Kingdom: Drax secures 75m Treasury loan guarantee to switch from coal to biomass

2013-04-25 01:05:00| Climate Ark Climate Change & Global Warming Newsfeed

BusinessGreen: Plans to convert the UK's largest coal plant to run on biomass have been given a multi-million pound boost, after the Treasury confirmed Drax would be the first company to receive a loan guarantee from its new scheme designed to drive investment in infrastructure. Drax yesterday announced it will receive a 75m guarantee from the Treasury scheme, known as UK Guarantees, which will underpin a private loan by Friends Life to fund the biomass conversion of three of its six generators. The company...

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Category:Electronics and Electrical

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