Drax's completion purchase of Iberdrola’s portfolio of flexible, low carbon & renewable assets cements its foothold in Great Britain’s energy system, providing enough power for the equivalent of more than 8.3 million homes. Not only does this acquisition diversify the Drax portfolio but it also widens it's UK footprint ensuring that they can help support a power system with increasing intermittent renewable capacity by providing flexible generation and system support.
The deal adds 2.6GW of generation capacity to Drax’s portfolio, reinforcing its position at the heart of the Great Britain’s energy system, combining hydro plants in Scotland with Drax’s biomass units in Yorkshire reinforce the company’s position as Great Britain’s biggest generator of renewable power. This aids in providing the flexibility and stability to help underpin the increases in solar and wind power which will be needed in the decades to come if the UK is to meet its climate targets.
The Drax Group is now Great Britain’s fifth largest non-domestic energy supplier, the largest supplier of renewable power to UK businesses & organisations with over 350,000 now being provided with 100% renewable power.
“As a British energy company, we are very proud to be the new owners of these critically important power stations across England and Scotland. For decades Drax has been at the heart of our energy system and now we’re going to play a bigger role than ever".