Drax Group (LSE:DRX) said on Wednesday that it has agreed to acquire Flexitricity Limited, a UK-based specialist in optimising flexible energy assets, from Quinbrook for £36 million ($45.6 million). The transaction is expected to complete during the first quarter of 2026.
Flexitricity operates a proprietary control platform that provides optimisation and route-to-market services for owners of flexible assets, allowing them to participate efficiently in wholesale power markets as well as balancing and ancillary services. Its capabilities are seen as highly complementary to Drax’s strategy in flexible power.
Drax said the acquisition will play a key role in supporting the development of its gigawatt-scale pipeline of Battery Energy Storage Systems (BESS), enhancing the group’s ability to capture value from volatility and system flexibility in the UK power market.
The company added that the deal is expected to generate returns well above its weighted average cost of capital, strengthening Drax’s competitive position in the fast-growing flexible energy segment. The transaction also fits with Drax’s broader strategy of expanding its flexibility offering as the UK accelerates its transition towards a low-carbon, renewable-based energy system.
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