This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at https://www.bbc.co.uk/news/business-45873785
The article has changed 5 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| Scottish Power to use 100% wind power after Drax sale | |
| (35 minutes later) | |
| Scottish Power will become the first major UK energy company to generate all its electricity from wind power instead of coal and gas, after selling its final gas and hydro stations to Drax. | Scottish Power will become the first major UK energy company to generate all its electricity from wind power instead of coal and gas, after selling its final gas and hydro stations to Drax. |
| Power company Drax has paid £702m for the rest of Scottish Power's conventional generation business. | |
| Scottish Power plans to invest £5.2bn over four years to more than double its renewables capacity. | |
| Chief executive Keith Anderson said it was a "pivotal shift" for the firm. | |
| "We are leaving carbon generation behind for a renewable future powered by cheaper green energy. We have closed coal, sold gas and built enough wind to power 1.2 million homes," he said. | |
| Scottish Power has closed all of its coal plants in the past decade and has 2,700 megawatts (MW) of wind power capacity operating or under construction in the UK. | |
| It also has projects planned that can generate more than 3,000 MW. Its four-year plan aims to make electricity "cleaner and cheaper for Britain". | |
| Ignacio Galan, chairman of Scottish Power's Spanish owner, Iberdrola, said energy companies needed to be part of the solution to climate change. | |
| "Iberdrola is acting now to cut carbon emissions 30% by 2020 and be carbon neutral by 2050. The sale of these generation assets is consistent with our strategy," he said. | |
| Drax runs the UK's biggest power plant in North Yorkshire and is moving away from coal ahead of a government deadline for an emissions limit on coal plants from 2025. | |
| It has already converted four of its six generating units to burn wood pellets. | |
| Drax chief executive Will Gardiner said: "We believe there is a compelling logic in our move to add further flexible sources of power to our offering." |