Jersey firms help UK power station go for greener future
Tuesday 18th December 2012, 3:00PM GMT.
JERSEY firms are playing a vital role in helping to raise funds to convert Britain’s biggest power plant to burn green fuels rather than coal.
Lawyers at Walkers in Jersey advised power station operator Drax on a successful £190 million share placing that was completed in double-quick time.
Drax Group plc plans to use the money to convert three of its generating units at its plant in Selby in North Yorkshire to burn biomass, or plant matter, instead of coal.
Drax chief executive Dorothy Thompson said that the share placing was one of the key building blocks in the transformation.