Investing in your future




Insight Group PLC
is a leading private investment company based in the thriving city of Cape Town, South Africa.

With offices also located in Mozambique, Gambia and the financial hub of Hong Kong; Insight Group PLC is perfectly positioned to provide clients with investment opportunities and expertise unsurpassed in today's marketplace.

We take great pride in our ability to provide our clients with quantifiable confidence in everything we do. Our ability to achieve this and meet the varying needs of all of our clients stems from the fifty years of experience in the financial, media, commodities and property sectors leading the organisation's success.

For more information visit our website http://www.insightgroupplc.com/

Thursday 27 October 2011

Renewable energy from UK’s largest power station


Drax coal power station – the UK’s largest coal power station is set to become one of the biggest sources of renewable energy.


Drax coal power station generated around 6% of the UK’s total renewable power during the first 6 months of the year.  The coal-fired power station in Yorkshire uses straw and other biomass to produce renewable power.
“Drax power station could be transformed to produce more renewable energy than fossil fuel power, using biomass from straw, waste wood and other sources instead of coal,” says chief executive of Drax, Dorothy Thompson.
Coal-fired power stations could achieve a lower carbon footprint by using biomass, a relatively green fuel.  Miscanthus grass, a source of biomass energy could transform Drax to the top renewable energy source.  
In order to address the threat of power shortages and reduce carbon dioxide emissions, the UK government is currently promoting gas as the “greener” alternative to coal.
Thompson explains that it would be uneconomic to burn biomass under current conditions and subsidies from the government are needed to burn biomass in large quantities.  If adequate financial support was provided, the transition to biomass could be a quick process, she said.  "We would see ourselves starting along this path immediately, with delivery within three to four years.  By 2020, we could be delivering renewable energy to more than 2million homes."
Currently, biomass generation is awarded half of a "renewable energy obligation certificate" (ROC) per unit of electricity, compared with two ROCs for each unit of offshore wind. 
According to Chris Huhne, secretary of state and energy and climate change, biomass is one of the cheapest ways of meeting renewable energy targets, but the key issue is setting the level of support.    Huhne said the current review of subsidy levels and government consultation would be completed later in the year.

No comments:

Post a Comment