Drax has struck a deal to acquire Flexitricity, a flexible energy asset optimiser, from Quinbrook for £36 million ($48.2 million). The acquisition, expected to close in the first quarter of 2026 pending regulatory approvals, is projected to deliver returns exceeding Drax’s weighted average cost of capital. This strategic move underscores Drax’s ambition to expand its FlexGen business and bolster its battery energy storage system (BESS) portfolio.
Flexitricity, established in 2004, specialises in optimising flexible energy assets and facilitating market access through its proprietary controls platform. The company supports over 900MW of operational assets, including gas peakers, BESS, demand-side response, and renewables. Its scalable platform is poised to enhance Drax’s plans to develop a gigawatt-scale BESS pipeline, encompassing both physical assets and third-party optimisation. Drax currently manages around 2,000 embedded third-party renewable assets through its Drax Energy Solutions operations.
Based in Edinburgh, Flexitricity employs approximately 85 people, who are expected to join Drax upon the acquisition’s completion. Drax Group CEO Will Gardiner expressed enthusiasm about the acquisition, stating, “We are pleased to announce the acquisition of Flexitricity. We are ambitious about growing and developing our FlexGen business and Flexitricity’s technology and team are a strong strategic fit for us. Adding Flexitricity’s expertise and capability, which uses AI and advanced machine learning software, delivered via their proprietary platform, supports our options for growth, particularly in our plans for a GW-scale BESS portfolio as a part of our FlexGen business, while continuing to provide energy security to the UK power system and delivering new energy services for our customers.”
In October 2025, Drax signed an agreement to purchase three BESS projects from Apatura, a UK renewable energy and BESS developer. The portfolio includes three ready-to-build BESS sites with a total capacity of 260MW across Scotland and northern England.
This acquisition could significantly reshape the UK’s energy landscape. By integrating Flexitricity’s advanced technology and expertise, Drax is positioning itself to play a pivotal role in the transition to a more flexible and resilient energy system. The move highlights the growing importance of BESS and demand-side response in maintaining energy security and supporting the integration of renewable energy sources. As the energy sector continues to evolve, such strategic acquisitions are likely to become more common, driving innovation and competition in the market. The deal also raises questions about how other energy companies might respond, potentially sparking a wave of similar acquisitions or partnerships aimed at enhancing flexibility and optimisation capabilities.