UK’s biggest power station, Drax, has recently made offers to buy two of German Pellets' bankrupted US-based biomass pellet plants. The company, which this month reported a 17% drop in earnings, said it has submitted initial cash bids for Texas Pellets and Louisiana Pellets. Texas Pellets and Louisiana Pellets are both going through Chapter 11 bankruptcy processes and are seeking purchasers for substantially all of their assets, Insider Media reported. The bids from Drax could be accepted, but the buyer will be chose through auctions, which will be held on ...
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