Drax Group Pauses Buyback as £561M Bluefield Solar Deal Boosts UK Renewables
Key takeaways
- Drax Group Pauses Buyback as £561M Bluefield Solar Deal Boosts UK Renewables Drax Group logo Market Beat Mon, June 1, 2026 at 7:03 PM GMT+7 6 min read DRX.L BSIF.L Key Points Interested in Drax Group plc?
- The acquisition is expected to boost earnings and reduce risk by increasing Drax’s share of contracted revenues and diversifying its portfolio beyond biomass and flexible generation.
- Drax will fund the purchase with bridge financing and pause its share buyback until the deal closes, while keeping its net debt target of around 2x adjusted EBITDA.
Drax Group Pauses Buyback as £561M Bluefield Solar Deal Boosts UK Renewables Drax Group logo Market Beat Mon, June 1, 2026 at 7:03 PM GMT+7 6 min read DRX.L BSIF.L Key Points Interested in Drax Group plc? Here are five stocks we like better.
Drax agreed to buy Bluefield Solar Income Fund for about £561 million, a deal that would expand its UK renewables footprint with roughly 900 MW of solar and wind assets plus a 2.9 GW development pipeline. The transaction still needs BSIF shareholder and regulatory approval and is expected to close in Q3 if completed.
The acquisition is expected to boost earnings and reduce risk by increasing Drax’s share of contracted revenues and diversifying its portfolio beyond biomass and flexible generation. Drax also highlighted potential trading, operational and energy services synergies across the larger asset base.