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Drax abandons plans for new gas plant in U.K. to focus on green generation

Drax Group Plc has abandoned plans to construct a new U.K. gas plant and focus on becoming a green generator.

The utility sees biomass as its future. Its Yorkshire facility has already converted four of six units for biomass burning and is expected to end power production by the end of March at its two remaining coal burners.

Drax recently announced its plans to acquire Canada’s Pinnacle Renewable Energy Inc.

To read the full story in the Financial Post, click here.