Shares of British power generator Drax fell 10% on Thursday after the government turned down its carbon-capture project for the country's Track-1 programme.
Drax power station is pictured during sunset in Drax, North Yorkshire, Britain, November 27, 2020. REUTERS/Lee Smithfell 10% on Thursday after the government turned down its carbon-capture project for the country's Track-1 programme.
The project was not selected for Track-1, but the government will engage further with the project following an assessment outcome, the Department for Energy Security & Net Zero said.through investment in efforts to move towards cleaner, more affordable energy sources.it was pausing its planned UK investment of 2 billion pounds in bioenergy with carbon capture and storage as it awaited clarity on UK funding.
An existing subsidy scheme for biomass plants, which provide about 6% of Britain's electricity, runs out in 2027, which a Drax spokesperson said could make them unviable.Reporting by Nora Buli in Oslo and Radhika Anilkumar in Bengaluru; Editing by Subhranshu Sahu and Clarence Fernandez
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
More food shortages could add to Britain's price pressureBritons already reeling from the biggest rise in food prices since 1977 may have to get used to shortages of fresh vegetables as soaring costs and unpredictable weather hit domestic production.
Read more »
Britain raises domestic threat level for Northern Ireland to 'severe'Britain's MI5 intelligence agency has increased the threat level from domestic terrorism to Northern Ireland to 'severe' - meaning an attack is highly likely, Britain said on Tuesday.
Read more »
Britain raises domestic threat level for Northern Ireland to 'severe'The U.K.’s intelligence service has raised the terrorism threat level in Northern Ireland to “severe” amid an increase in activity by dissident Irish republican militants, AP reports.
Read more »
Enys Men's Abstract, Dawdling British Folk Horror Is Weak TeaEnys Men's non-narrative approach to its isolated horror can be refreshing, but its guided and repetitive images have their own frustrations.
Read more »
This $13 Million Georgian-Style Abode in London Is Brimming With British EleganceLangdale House is the perfect home for those who demand the best. With its Georgian-style architecture, home theater, wine cellar, and four-level garden, this $13 million abode exudes British elegance. luxuryhomes realestate London
Read more »
Americans to Be Barred From Buying Ozempic in British ColumbiaBritish Columbia is moving to restrict the sale of the diabetes drug Ozempic to Canadian residents after people from the U.S. sought out supplies to lose weight, threatening to send the medicine into shortage
Read more »