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Bids, Mergers and Takeovers

Drax completes Louisiana Pellets acquisition

26 April 2017 09:35

Drax has completed the acquisition of substantially all of the assets of Louisiana Pellets for $35.4m.

Drax said Louisiana Pellets would provide additional biomass pellet capacity in the region of 450k tonnes pa, playing an important part in the group's strategy to build a flexible supply chain capable of self-supplying 30% of its generation requirement. It said the plant was expected to return to service by early 2018 following incremental investment to upgrade and optimise the facility.

At 9:35am: (LON:DRX) Drax Group PLC share price was +0.9p at 305.2p

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