Drax closes acquisition of Scottish power portfolio

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Drax Group has completed the acquisition of  a generation portfolio from Iberdrola-owned Scottish Power Ltd. for a total consideration of £702 million (US$904 million) in cash. 

The portfolio consists of Cruachan pumped storage hydro (440 MW), run-of-river hydro locations at Galloway and Lanark (126 MW), four combined cycle gas turbine stations: Damhead Creek (805 MW), Rye House (715 MW), Shoreham (420 MW) and Blackburn Mill (60 MW), and a biomass-from-waste facility (Daldowie).

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