UK-based renewable energy firm Drax has completed the acquisition of Flexitricity, an optimiser of flexible energy assets, in a transaction valued at £36m ($47.8m).
In January 2026, Drax signed the agreement to purchase Flexitricity from Quinbrook.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Founded in 2004, Flexitricity operates a proprietary control platform that provides optimisation and route-to-market services for owners of flexible energy assets, enabling them to participate in wholesale energy, balancing, and ancillary services markets.
The company works with both front-of-the-meter and behind-the-metre grid-scale assets and delivers demand response services across more than 900MW of operational capacity.
These assets primarily encompass battery energy storage systems (BESS), gas peaking plants, renewable generation, and demand-side response.
Flexitricity, headquartered in Edinburgh, Scotland, with around 85 employees, will be integrated into Drax as part of the acquisition.
Drax plans to use Flexitricity’s platform to help build a gigawatt-scale pipeline of BESS projects, including its own physical assets and third-party assets that it can optimise while providing route-to-market access, floors and tolling arrangements.
Through its Drax Energy Solutions business, Drax currently offers route-to-market services for around 2,000 embedded third-party renewable assets with a combined capacity of about 800MW.
Drax Group chief commercial officer Paul Sheffield said: “This is an exciting moment for both Drax and Flexitricity as we bring two great teams together. The completion of the acquisition provides Drax with AI-enabled optimisation capabilities that will enhance how we manage and monetise flexible generation and storage assets.
“As we continue to develop our gigawatt-scale pipeline of BESS opportunities, alongside our other flexible generation assets, we can enhance our system support, further strengthen security of supply and deliver 24/7 renewable power to our customers.
“We will continue to explore options to invest in flexible and renewable energy, creating value for stakeholders and attractive returns for shareholders in line with our capital allocation policy.”
In January 2026, Drax entered into a ten-year tolling contract with West Burton C, owned by Fidra Energy, covering a 250MW (500MWh) BESS located at West Burton in the UK.
