Research on Drax Group plc (DRX:LON) 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.
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