Drax Group plc ( (GB:DRX) ) has provided an announcement.
Drax Group plc reported strong operational and financial performance for 2024, with a 5% increase in adjusted EBITDA driven by enhanced renewable generation and improved pellet production. The company achieved a significant milestone by signing a Heads of Terms with the UK Government for a low-carbon dispatchable CfD at Drax Power Station, supporting its long-term growth and the UK’s Clean Power 2030 goal. Drax’s strategic initiatives include expanding its flexible generation capabilities, developing a data centre at Drax Power Station, and launching the Elimini carbon removals business. The company maintains a robust balance sheet, enabling shareholder returns and future growth investments.
More about Drax Group plc
Drax Group plc operates in the energy sector, focusing on renewable energy generation, flexible generation, and carbon removals. It is a major player in the UK energy market, known for its Drax Power Station, which is the largest power station in the UK and a significant source of renewable energy. The company is also involved in pellet production and has international operations through its carbon removals business, Elimini.
YTD Price Performance: -0.85%
Average Trading Volume: 1,236,359
Technical Sentiment Consensus Rating: Sell
Current Market Cap: £2.34B
See more data about DRX stock on TipRanks’ Stock Analysis page.