Drax Group has completed its £548 million acquisition of Bluefield Solar Income Fund Limited, adding solar and wind assets to its UK generation portfolio for the first time.
The deal became effective on 31 July 2026 after shareholder approval and completion of the court process. It gives Drax ownership of 0.9GW of operating and under-construction solar and wind assets, as well as a gross development pipeline of 2.9GW.
The acquisition broadens Drax beyond its existing mix of biomass, hydro, pumped storage and flexible gas generation. It also adds another source of renewable electricity at a time when the company is building a more diversified generation platform.
The 0.9GW portfolio gives Drax immediate exposure to operating and near-term renewable assets. The 2.9GW development pipeline creates additional growth potential over the next decade, although the value of that pipeline will depend on which projects move forward, when they are built and how much capital is required.
Combined with Drax’s battery energy storage system and open-cycle gas turbine development sites, the company now has more than 3GW of potential new capacity under development. That is larger than the 2.6GW capacity of Drax Power Station and shows how the group is expanding beyond its traditional generation base.
The transaction also gives Drax a larger role in both renewable generation and flexible power. Solar and wind can increase the group’s exposure to low-carbon electricity production, while storage and flexible generation can help support the system when renewable output changes.
Drax Group plc (LON:DRX), trading as Drax, is a power generation business. The principal downstream enterprises are based in the UK and include Drax Power Limited, which runs the biomass fuelled Drax power station, near Selby in North Yorkshire.
