UK: Drax Power has entered a 20-year joint venture agreement with Power Minerals to build a new facility to process pulverised fuel ash into supplementary cementitious material (SCM) for cement.
The facility will be located adjacent to Drax Power site and will produce 400,000t/yr of SCM for use in lower-carbon cement. Power Minerals will construct, own and operate the plant. Drax will supply ash, power and water, as well as share profits from SCM sales. There is no capital investment required by Drax.
Operations will begin by the end of 2026. Drax expects the project to generate incremental adjusted earnings by interest, taxation, depreciation and amortisation (EBITDA) of €6m annually between 2027 and 2046.
