Drax finalizes the $48 million purchase of Flexitricity.

UK-based renewable energy company Drax has finalized its acquisition of Flexitricity, a firm specializing in optimizing flexible energy assets, in a deal worth £36 million ($47.8 million).

Drax reached the agreement to acquire Flexitricity from Quinbrook in January 2026.

Established in 2004, Flexitricity features a proprietary control platform that offers optimization and market access services for owners of flexible energy assets, allowing them to engage in wholesale energy, balancing, and ancillary services markets.

The company collaborates with both front-of-the-meter and behind-the-meter grid-scale assets, providing demand response services across over 900MW of operational capacity.

These assets mainly include battery energy storage systems (BESS), gas peaking plants, renewable generation, and demand-side response initiatives.

Based in Edinburgh, Scotland, and employing around 85 staff, Flexitricity will be integrated into Drax following the acquisition.

Drax intends to utilize Flexitricity’s platform to develop a pipeline of gigawatt-scale BESS projects, including its own physical assets and third-party assets that it can optimize while offering market access and tolling arrangements.

Through its Drax Energy Solutions division, Drax currently provides route-to-market services for approximately 2,000 embedded third-party renewable assets with a total capacity of about 800MW.

Drax Group’s Chief Commercial Officer, Paul Sheffield, commented: "This is an exciting opportunity for both Drax and Flexitricity as we unite two exceptional teams. Completing this acquisition equips Drax with AI-driven optimization capabilities that will improve how we manage and monetize flexible generation and storage assets.

"As we continue to expand our gigawatt-scale pipeline of BESS projects, along with our other flexible generation assets, we can enhance our system support, bolster security of supply, and deliver 24/7 renewable energy to our customers.

"We will keep exploring investment options in flexible and renewable energy, creating value for stakeholders and attractive returns for shareholders in accordance with our capital allocation policy."

In January 2026, Drax also signed a ten-year tolling agreement with West Burton C, owned by Fidra Energy, for a 250MW (500MWh) BESS located at West Burton in the UK.