Drax Group plc (GB:DRX) has released an update.
Drax Group plc reports a robust operational performance, with its Flexible Generation and Pellet Production businesses progressing towards a post-2027 target of over £500 million EBITDA. The company is advancing a £300 million share buyback and has launched Elimini, a US-based renewable power and carbon removals developer, while also exploring significant investment opportunities in biomass and energy security. Drax anticipates its 2024 full-year EBITDA to reach the top end of analyst estimates, driven by strong demand for renewable and dispatchable power.
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