IUX24
TopMarketWorldEconomyFinanceTechnologyBusinessPoliticsAnalysis & Opinion

Drax Group Signs Long Term Battery Tolling Deal with Fidra Energy

Drax Group has reached a 10-year tolling agreement for a 250-megawatt battery storage project in West Burton. The deal requires no upfront capital costs.

Insights:
Drax Group plc has finalized a 10-year tolling agreement with Fidra Energy for a 250-megawatt battery energy storage system at West Burton in Nottinghamshire. This arrangement provides the company with contracted operational rights to the two-hour storage asset without any upfront capital expenditure. Under the contract, Drax Group plcwill pay a fixed annual tolling fee over the term, and the agreement is indexed to inflation in the United Kingdom GBGB.
Signage is seen on the side of a train delivering biomass fuel pellets at the Drax Power station near Selby, Britain, December 13, 2024. REUTERS/Phil Noble
Signage is seen on the side of a train delivering biomass fuel pellets at the Drax Power station near Selby, Britain, December 13, 2024. REUTERS/Phil Noble
IUX24

IUX24 AI-powered financial news and market intelligence. Think and act like smart money.

IFZA Properties, Dubai Silicon Oasis, DSO-IFZA, Dubai, United Arab Emirates

Copyright IUX24 MEDIA - FZCO. All rights reserved.

Powered by AI • Made with precision

IUX24 is an information and analytics platform providing news, market data, analytical tools, and AI-powered features for informational and educational purposes. The Services and information provided do not constitute investment advice, trading signals, or brokerage services. Investing involves risk, and Users should carefully evaluate information before making investment decisions.