Drax said the purchase, conditional on approval from HEIT’s shareholders, was a “highly attractive opportunity”.
Chief executive Will Gardiner said yesterday: “The Drax” directors believe that adding battery storage to our FlexGen portfolio enables us to provide even more secure power to the country when it is needed.
“In combination with our long duration storage, flexible generation, demand-side response ‘capabilities and renewable generation from biomass, we will be able to supply 4.5gw of dispatch-able generation to meet demand.”
HEIT’s directors intend to unanimously recommend shareholders vote in favour of the deal. Drax’s offer is higher than one made by Foresight Group last week.
Norman Crighton, non-executive chair of the trust, said: “Since its launch in November 2021, HEIT has assembled a fully operational portfolio of eight two-hour BESS projects totalling 790.8mwh/ 395.4mv, which have attracted a strong level of interest through both our recent asset sale process and now through a poten...
Chief executive Will Gardiner said yesterday: “The Drax” directors believe that adding battery storage to our FlexGen portfolio enables us to provide even more secure power to the country when it is needed.
“In combination with our long duration storage, flexible generation, demand-side response ‘capabilities and renewable generation from biomass, we will be able to supply 4.5gw of dispatch-able generation to meet demand.”
HEIT’s directors intend to unanimously recommend shareholders vote in favour of the deal. Drax’s offer is higher than one made by Foresight Group last week.
Norman Crighton, non-executive chair of the trust, said: “Since its launch in November 2021, HEIT has assembled a fully operational portfolio of eight two-hour BESS projects totalling 790.8mwh/ 395.4mv, which have attracted a strong level of interest through both our recent asset sale process and now through a poten...
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Daily Express (Digital) - 1 Issue, March 26, 2025