Drax Group

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Drax plans expansion of pumped hydro and biomass as profits soar

Drax has announced plans to expand its pumped storage hydro business, and biomass supply chain, after reporting a surge in profits. It comes as the company announced a pre-tax profit of £796 million for the 12 months ended 31 December 2023, up from £78 million in 2022. Adjusted EBITDA also increased to £1.21 billion from £731 million the previous year.

2 months ago

Hinkley delay could benefit Drax

3 months ago

Plan to extend Drax biomass subsidy sparks backlash

3 months ago

Drax gets planning go ahead for £2bn BECCS project

3 months ago

Strikes turn ugly at Drax after Xmas dinner is cancelled

4 months ago

Drax seeks ‘bridging mechanism’ for BECCS plant

5 months ago

Former Thames, Ofwat and Drax bosses join Ofgem board

Ofgem has appointed five new non-executive directors to bolster its board. The appointments include former employees of the likes of Ofwat, Thames Water and Drax, as well as an ex-government adviser and a former member of the European Parliament.

6 months ago