Drax has announced plans to expand its pumped storage hydro business, and biomass supply chain, after reporting a surge in profits. It comes as the company announced a pre-tax profit of £796 million for the 12 months ended 31 December 2023, up from £78 million in 2022. Adjusted EBITDA also increased to £1.21 billion from £731 million the previous year.
Drax plans expansion of pumped hydro and biomass as profits soar
