Shares of British power generator Drax fell on Thursday after the government turned down its carbon-capture project for the country's latest funding round for the technology.
fell on Thursday after the government turned down its carbon-capture project for the country's latest funding round for the technology.through investment in efforts to move towards cleaner, more affordable energy sources including projects to capture and store carbon dioxide .
Drax said it has been invited to begin bilateral discussions with the government to move the project forward. An existing subsidy scheme for the biomass units, which provide about 6% of Britain's electricity, runs out in 2027, which a Drax spokesperson previously said could make them unviable.
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