Drax Group to give shareholders £300m windfall as profits rise
by Jillian Ambrose Energy correspondent from Environment | The Guardian on (#6PGQK)
Owner of North Yorkshire power station earned 393m in government subsidies for biomass
The owner of the Drax power plant in North Yorkshire will give shareholders a 300m windfall after a sharp rise in taxpayer subsidies boosted its profits for the first half of the year to more than 500m.
The power station, which receives hefty subsidies from burning biomass wood chips, mainly shipped from North America, generated almost a third more electricity over the first half of this year compared with the same months last year.
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