My daily contribution to this platform is a habit vaguely in the tradition of meditation–finding something each day that is worthy of gratitude, or otherwise worthy of sharing with friends, family, and anyone else who cares to listen. Because of the good fortune I have had to visit and work in many amazing places, it is important to me to never regret the places where I still have not been. Scotland is one of those places that, if I were a regretter, I would be feeling it now. I owe that place a visit (even if the company name sounds like a Bond villain):
Big six energy firm drops fossil fuels for generation and say cheap green energy is the future
Scottish Power has ditched fossil fuels for electricity generation and switched to 100% wind power, by selling off its last remaining gas power stations to Drax for more than £700m.
Iberdrola, Scottish Power’s Spanish parent company, said the move was part of its strategy to tackle climate change and would free it up to invest in renewables and power grids in the UK.
The deal also marks a significant expansion and diversification for Drax, whose main business is a coal- and biomass-fired power station in North Yorkshire.
Included in the £702m sale are four gas power stations in England, two hydro schemes and a pumped storage plant in Scotland. That leaves Scottish Power producing all its power from windfarms.
While it has many onshore, the firm’s growth is in offshore windfarms, including East Anglia One, which should take the crown of the world’s largest when it opens in 2020.
However, the company’s 5 million domestic customers will still be supplied with a mix of green and brown electricity, with some bought from other coal and gas power plant operators.
The ScottishPower chief executive, Keith Anderson, said: “We are leaving carbon generation behind for a renewable future powered by cheaper green energy.”
Drax, for its part, will see an immediate boost in its earnings, adding an estimated £90m-£110m profit in 2019.
Read the whole story here.