Drax in talks with Iberdrola to buy UK pumped storage, hydro and gas plants

Michael Holder
clock • 2 min read

UK energy firm confirms preliminary talks over deal with Spanish owner of Scottish Power

Drax is currently in talks with Spanish energy giant Iberdrola over the potential acquisition of a UK portfolio of pumped storage, renewable hydropower, and gas fired power facilities, the company confirmed...

To continue reading this article...

Join BusinessGreen

In just a few clicks you can start your free BusinessGreen Lite membership for 12 months, providing you access to:

  • Three complimentary articles per month covering the latest real-time news, analysis, and opinion from Europe’s leading source of information on the Green economy and business
  • Receive important and breaking news stories via our daily news alert
  • Our weekly newsletter with the best of the week’s green business news and analysis

Join now

 

Already a BusinessGreen member?

Login

More on Energy

Ofgem moves to fast-track three 'electricity superhighways'

Ofgem moves to fast-track three 'electricity superhighways'

Redesigned projects along the UK's east coast expected to save consumers up to £6bn, new analysis claims

Stuart Stone
clock 10 December 2025 • 6 min read
'There is no upside to delay': How a renewables-based energy system could save Europe $1.6tr

'There is no upside to delay': How a renewables-based energy system could save Europe $1.6tr

New study reveals how generation mixes with high shares of renewables will save money for consumers and businesses, even when grid upgrades, energy storage, and back-up power costs are considered

Stuart Stone
clock 08 December 2025 • 9 min read
Ofgem approves £28bn plan to boost energy network security and resilience

Ofgem approves £28bn plan to boost energy network security and resilience

Regulator approves bumper investment package to upgrade the UK's grid and better shield customers from volatile energy bills

Stuart Stone
clock 04 December 2025 • 7 min read