Scottish assets bought by Drax

ScottishPower’s chief executive, Keith Anderson, yesterday described his firm’s choice to sell off its gas and hydro assets as a “pivotal shift” in the company’s history.

Drax Group is buying the portfolio of assets after making a deal with Iberdrola, ScottishPower’s Spanish parent company.

ScottishPower said the sale means it will completely switch away from coal and gas generation to wind power.

Drax, which owns the UK’s biggest power plant, has sought to move away from coal ahead of the national deadline of 2025 to phase out carbonintensive power.

Will Gardiner of Drax said: “We believe there is a compelling logic in our move.”