Drax has signed an agreement to acquire Edinburgh–based Flexitricity Ltd, a UK-based optimiser of flexible energy assets, from Quinbrook. The transaction values Flexitricity at £36 million, which is subject to customary closing adjustments. Completion is expected in Q1 2026 and is conditional on completion of regulatory approvals.
Founded in 2004, Flexitricity provides optimisation and route-to-market services to owners of flexible energy assets, via its proprietary controls platform, enabling their participation in the wholesale energy, balancing and ancillary services markets. Currently it provides both front-of and behind-the-meter solutions for grid scale assets as well as demand response services to over 900 MW of operational assets, primarily battery energy storage systems (BESS), gas peaking plants, renewables and demand-side response.
Flexitricity’s scalable platform, which uses AI and advanced machine learning software, is expected to support the Group’s plans to develop a GW scale pipeline of BESS opportunities comprised of physical assets, and the capability to optimise third-party assets with the provision of route to market, floor and tolling structures. Drax already provides a route to market for around 2000 embedded third-party renewable assets with a combined capacity of 800 MW, via its Drax Energy Solutions business.
