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August 8, 2022

Drax increases stake in B.C. wood-pellet industry to 78%

Drax increases stake in B.C. wood-pellet industry to 78%
The United-Kingdom-based power producer Drax Group Plc is increasing its hold on British Columbia’s wood-pellet industry with an agreement to buy its eighth production plant in the province.    The company said this week it will buy Princeton Standard Pellet Corp., and provided that goes ahead, will add 90,000 tonnes-a-year of capacity to its existing production capacity of 1.57 million tonnes in B.C.    That will bring its total to 78 per cent of B.C.’s total capacity, according to industry figures from the ...

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