Drax Group plc (LON:DRX) has confirmed that it has provisionally secured agreements to provide a total of 434MW of capacity (de-rated 399MW) principally from its pumped storage and hydro assets(1). The agreements are for the delivery period October 2029 to September 2030, at a provisional clearing price of £27/kW/year(2), with income of around £11 million in that period. These are in addition to agreements for these existing assets which extend to September 2029.
Drax secures 434MW capacity agreement for 2029–2030 delivery
- Written by: Amilia Stone
Find more news, interviews, share price & company profile here for:
Latest Company News
Drax has agreed to acquire Bluefield Solar Income Fund in a recommended all-cash deal valuing BSIF’s issued share capital at about £548m, or £561m including a permitted dividend. The acquisition would expand Drax’s UK renewable generation portfolio across solar, wind and battery storage.
Drax has assumed commercial control of Hirwaun Power Station, the first of three 299MW OCGT plants it is developing in England and Wales to support flexible generation and system services.
Drax is positioning itself as a practical energy transition business, focused on reliability, affordability and cleaner power.
Drax has marked 60 years of Cruachan Power Station, highlighting the pumped storage hydro asset’s role in UK grid flexibility and future energy storage.
Drax has received its first UK biomass delivery from the Ultra Yorkshire as it strengthens supply security and targets lower shipping emissions.
Drax is planning solar generation at its Cruachan hydro site in Scotland, adding renewable capacity around an established flexible power asset.
