ENERGY giant Drax has hailed a strong performance by its Scottish operations and underlined its willingness to invest in expanding the “Hollow Mountain” hydro development in the Argyll hills with the right support.
Drax said its Scottish hydro operations had performed well during the six months to June 30.
The assets include the Cruachan Pumped Storage power station in Argyll and the Lanark and Galloway river-based schemes.
READ MORE: Expansion of huge hydro plant in Argyll hills could create valuable jobs
They were included in a portfolio that Drax acquired from ScottishPower in a £700 million deal in 2018, along with a plant at Daldowie that produces fuel pellets from sludge.
The company generated £34m earnings from the portfolio in the first half, compared with £35m in the same period last year.
In his business review, chief executive Will Gardiner said: “We are continuing to develop a long-term option for the expansion of Cruachan, which could create a 1GW pumped storage power station (currently 0.4GW) and commenced a planning application process in June 2021.”
He added: “Its location, flexible operating modes and ability to store power from wind generation, in addition to providing a full range of system support services, makes it strategically important to the UK power system and aligned with its future needs. Any investment decision will be dependent on the right regulatory support.”
Cruachan features a huge hall that houses turbines driven by water as it flows from a reservoir in the hills to Loch Awe below. Water can be pumped back up to the reservoir when demand for power is low.
READ MORE: Drax plans £6m investment in historic hydro facility on Scottish river
Drax produces energy from biomass at the formerly coal-fired plant in Yorkshire from which it takes its name.
It increased total first half earnings to £186m, from £179m.
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