It's a biomass burning power plant. Biomass is absolutely renewable by any definition of "renewable". More can be grown on useful short term timescales.
Also, burning biomass does not affect the long term CO2 makeup of the atmosphere. The CO2 emitted was sequestered a decade ago, not 400 million years ago. Biomass carbon release is the normal carbon cycle of the earth.
It takes decades to grow the trees that then absorb the CO2 that is emitted from the burning, and the biomass that Drax burns has been (and still is) imported from Canada from felling old-growth forests (some of which have been estimated to be over 250 years old), and this isn't even considering the emissions from transporting the pellets via ship, rail and road from western Canada to eastern England which is not tracked against Drax.