Drax Group Acquires Bluefield Solar Income Fund for £548 Million, Adding 0.9 GW Solar and Wind to UK Portfolio
Drax Group plc has completed the £548 million all-cash acquisition of Bluefield Solar Income Fund Limited (BSIF), adding 0.9 GW of operating and under-construction solar and wind assets to its portfolio for the first time, alongside a 2.9 GW gross development pipeline. The deal was announced on 1 June 2026 and completed on 31 July 2026 following shareholder and court approval.
Transaction date: · Source: drax.com
Key facts
- Transaction date
- Technology
- Solar PV, Onshore Wind
- Capacity
- 900 MW
- Transaction price
- 640 million (currency as reported in the source)
- Buyer
- Drax Group
- Country
- United Kingdom
- Region
- United Kingdom
- Continent
- Europe
- Development status
- Operational
- PPA
- n.a.
Technology details
0.9 GW of operating and under-construction solar and wind assets, plus a gross development pipeline of 2.9 GW for construction over the next decade. Marks Drax's first entry into solar and wind generation. Combined with Drax's existing BESS and OCGT development sites, the combined renewable and flexible generation portfolio exceeds 3 GW.
Additional information
All-cash acquisition, originally announced on 1 June 2026. Completion effective 31 July 2026 following BSIF shareholder approval and court sanction. Price of £548 million converted to approximately €640 million at prevailing rates. Transaction is described as transformational for Drax, adding solar and wind to its portfolio for the first time alongside biomass, hydro, pumped storage and OCGT assets. Drax is the UK's largest source of renewable power by output.
Source
Original announcement: https://www.drax.com/news/drax-completes-transformational-548-million-acquisition-of-solar-and-wind-assets/