Drax Secures Capacity Agreements Valued at $57 Million

Dow Jones

Mar 12

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)

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

{"basename":"","ssrTDKData":{"titleTemplate":"%s - Tiger Brokers","title":"Tiger Brokers | Global Stocks, Options & Futures Trading App","description":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","keywords":"tiger brokers,tiger trade,tiger brokers singapore,broker online,stock trading in singapore,share trading singapore,brokerage firm singapore,trading app,stock broker singapore,stock trading platforms,trading account","social":{"ogDescription":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.be62fbe1.png","ogUrl":"https://www.itiger.com/news/2518405659"},"companyName":"Tiger Brokers"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"SGP","license":"TBSG","edition":"fundamental"},"isCrawlerRequest":true,"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"2518405659\",edition:\"fundamental\",auth_exemption:1,,,undefined,":{"share":"https://ttm.financial/m/news/2518405659?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2025-03-12 15:31","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2518405659","market":"sh","top_or_hot":-1,"title":"Drax Secures Capacity Agreements Valued at $57 Million","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  By Michael Susin \n</p>\n<pre>\n \n</pre>\n<p>\n  Drax said it provisionally secured two energy capacity agreements valued at around 44 million pounds ($57 million) in total \n</p>\n<p>\n  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. \n</p>\n<p>\n  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. \n</p>\n<p>\n  The provisional agreements are part of the T-4 capacity auction, which secures capacity four years in advance, Drax said. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Michael Susin at michael.susin@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  March 12, 2025 03:31 ET (07:31 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Drax Secures Capacity Agreements Valued at $57 Million</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nDrax Secures Capacity Agreements Valued at $57 Million\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2025-03-12 15:31</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  By Michael Susin \n</p>\n<pre>\n \n</pre>\n<p>\n  Drax said it provisionally secured two energy capacity agreements valued at around 44 million pounds ($57 million) in total \n</p>\n<p>\n  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. \n</p>\n<p>\n  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. \n</p>\n<p>\n  The provisional agreements are part of the T-4 capacity auction, which secures capacity four years in advance, Drax said. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Michael Susin at michael.susin@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  March 12, 2025 03:31 ET (07:31 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"DRXGY","symbol_name":"Drax Group Plc","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2518405659","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2518405659","pubTimestamp":1741764660,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Drax said it provisionally secured two energy capacity agreements valued at around 44 million pounds  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.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"DRXGY":"Drax Group Plc","BK4133":"新能源发电业者","BK4105":"独立电力生产商与能源贸易商"},"translate_title":"Drax获得价值5700万美元的产能协议","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"DRXGY":0.9},"content_text":"By Michael Susin \n\n\n \n\n\n  Drax said it provisionally secured two energy capacity agreements valued at around 44 million pounds ($57 million) in total \n\n\n  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. \n\n\n  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. \n\n\n  The provisional agreements are part of the T-4 capacity auction, which secures capacity four years in advance, Drax said. \n\n\n \n\n\n  Write to Michael Susin at michael.susin@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  March 12, 2025 03:31 ET (07:31 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}