Drax Group plc ( (GB:DRX) ) has issued an update.
Drax Group has provisionally secured capacity market agreements to provide 434MW of energy, primarily from its pumped storage and hydro assets, for the period from October 2028 to September 2029, generating approximately £24 million. Additionally, Drax has secured an agreement for refurbishing its Glenlee hydro asset, providing 24MW of capacity from October 2028 to September 2043, with an expected income of around £20 million, reinforcing its commitment to renewable energy and long-term sustainability.
More about Drax Group plc
Drax Group plc operates in the energy sector, focusing on renewable energy sources. The company is known for its pumped storage and hydroelectric power assets, contributing to the UK’s energy capacity market.
YTD Price Performance: -13.35%
Average Trading Volume: 1,462,279
Technical Sentiment Consensus Rating: Sell
Current Market Cap: £2.04B
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