Longspur Clean Energy - Drax Group - Building for Growth
Drax’s interim results show a company building a more diverse platform with a potential 85% increase in generation by 2029. While pricing and outages impact the reported H1 figures, strong trading and early performance from the first OCGT suggest a better second half in our view. Looking further ahead to 2029, the company has increased its target adjusted EBITDA range to £650m to £800m.
Research on from Longspur Clean Energy
Drax’s interim results show a company building a more diverse platform with a potential 85% increase in generation by 2029. While pricing and outages impact the reported H1 figures, strong trading and early performance from the first OCGT suggest a better second half in our view. Looking further ahead to 2029, the company has increased its target adjusted EBITDA range to £650m to £800m.
