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(Alliance News) - Drax Group PLC on Wednesday said subsidiary Drax Power Ltd has appointed Worley Europe Ltd, a Brentford-based industrial engineering company, to begin its front-end engineering design study.
Drax said the study concerns its bioenergy with carbon capture and storage project at the Drax power station in Selby, North Yorkshire. Bioenergy with carbon capture and storage combines electricity generation with a carbon removal technique.
The front-end engineering design study will provide the detailed design information and costings which, alongside confirmation of the financial model for the project and planning approval, would allow Drax to take a final investment decision in 2024. This would then allow the first unit to commence operation in 2027 and the second by 2030.
The combined programme of works represents a capital investment in the region of GBP40 million.
As well as the front-end engineering design study, Drax said it will commence site preparation works - including decommissioning and relocation work- creating the space required to develop the new infrastructure for project.
Shares in Drax were up 1.1% at 584.00 pence on Wednesday morning in London.
By Heather Rydings; heatherrydings@alliancenews.com
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