By Michael Susin
Drax said it provisionally secured two energy capacity agreements valued at around 44 million pounds ($57 million) in total
The U.K. power-generation company on Wednesday said it would provide a total of 434 megawatts of capacity from its pumped storage and hydro assets from October 2028 to September 2029, with income of around 24 million pounds in that period.
The company said it also secured an agreement to provide a total of 24 megawatts of capacity for the refurbishment of the Glenlee hydroelectric plant in southwest Scotland, from October 2028 to September 2043, with income of around 20 million pounds.
The provisional agreements are part of the T-4 capacity auction, which secures capacity four years in advance, Drax said.
Write to Michael Susin at michael.susin@wsj.com
(END) Dow Jones Newswires
March 12, 2025 03:31 ET (07:31 GMT)
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