Drax Pays $922 Million For Iberdrola's U.K. Clean Power Assets

GALWAY, IRELAND--October 24, 2018--Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland)--Drax Group plc (LSE:DRX) (Selby, England), operator of the U.K.'s largest operational coal-fired plant, is betting big on cleaner energy by announcing that it is buying ScottishPower Limited's (Glasgow, Scotland) portfolio of pumped storage, hydro and gas-fired generation for £702 million ($922 million).

Within this article: Details assets purchase, plants affected, shift to clean energy, cost of Drax plant conversion to biomass, future projects