Drax has agreed to buy Bluefield Solar ‌Income Fund (BSIF.L) in a £561m deal.

BSIF operates wind farms, solar plants and small-scale wind turbines and Will Gardiner, CEO of Drax, said that the offer is “a key moment for our business and its next phase. This would be the largest deal in our history, and with BESS and OCGT development sites included, our renewable generation business and flexible generation assets combined will have a larger power capacity of over 3GW than Drax Power Station’s 2.6GW for the first time”.

The deal is an opportunity to grow Drax’s UK renewable generation business whilst being complementary to the wider operations and its FlexGen portfolio. Drax will acquire direct access into a around 0.9GW renewable portfolio, comprised of operating and under construction solar and wind assets, and a 1GW development pipeline These assets would increase the company’s portfolio of around 2.2GW of FlexGen assets and developments, around 600MW of hydro-electric and pumped storage hydro assets and 2.6GW of biomass.

Gardiner added: “We’re building a diverse portfolio of hydro, batteries, gas, and now potentially wind and solar alongside a trading capability that will enable us to help deliver the UK’s energy security efficiently and affordably. We’re proud to have been at the heart of Britain’s energy system for sixty years, and we’re investing in and evolving our business now to ensure we continue to deliver what the country needs for decades to come.”

Drax has a stated plan to allocate up to £2bn into flexible and renewable energy through the decade. In March 2026, Drax completed the acquisition of Flexitricity, a UK-based optimiser of flexible energy assets, with a scalable platform expected to support the Group's ambition to develop a GW scale pipeline of BESS opportunities.

---