PwC Corporate Finance advises Apatura on its 260MW Battery Storage Portfolio Deal with Drax
October 2025
PwC’s Corporate Finance team is pleased to have advised Apatura Ltd (“Apatura”) on its transaction with Drax Group Plc (“Drax”). The deal will see Drax initially acquiring three, two-hour duration ready-to-build Battery Energy Storage System ("BESS") projects (260MW) in Scotland and Northern England, which are due to be completed in 2027-2028.
This is Drax’s first investment in the BESS sector. Drax will pay a fixed cash amount of £157.2 million to Apatura, payable as staged payments between 2025 and 2028. Apatura will bring the two-hour assets to commercial operation via a Construction Services Agreement, leveraging its recently expanded ability to take projects through construction and into operations. Apatura has also agreed with Drax a right of first offer over a further eight UK BESS sites in development (289MW).
This deal reflects the continued momentum of investment into the UK’s energy transition, supporting grid flexibility and energy security as the system evolves towards net zero. Bringing together Apatura’s development and construction management expertise with Drax’s experience in renewable generation and system stability will accelerate the delivery of flexible, low-carbon energy infrastructure across the country.
“We are delighted to have completed this milestone transaction with Drax, which represents a strong strategic fit for both parties. Apatura is responsible for one of Scotland’s largest energy storage pipelines, and we look forward to continuing our work advancing clean energy development. We are pleased with the support we received from PwC and grateful for the deep sector knowledge, strategic insight and hands-on support PwC’s Corporate Finance team brought throughout the process which was crucial in supporting us on our transaction.”
“We are incredibly pleased to have advised Apatura on this strategic transaction with Drax. This represents a significant milestone in the UK energy storage sector and we look forward to seeing the success of this collaboration as Apatura and Drax deliver critical grid-scale storage projects that will support the UK’s transition to a net zero energy system.”
Apatura
Apatura specialises in the development, construction, and future operation of Battery Energy Storage Systems (BESS), renewable energy projects, and energy infrastructure that power clean energy solutions and enable essential data centre services.
By creating the connections and capacity needed to support the renewable transition and the digital economy, Apatura is shaping a future powered by clean, renewable energy—one that fosters both prosperity and sustainability.
With Scotland’s largest energy storage pipeline and one of the biggest in the UK, Apatura is advancing clean energy capacity in development. Backed by top-tier partners and a talented, diverse team, the company is building a resilient, sustainable energy ecosystem. Headquartered in York with offices in Edinburgh, Apatura delivers innovative solutions that create lasting benefits for communities, businesses, and the planet.
Drax
Drax Group is a renewable energy company engaged in renewable power generation, the production of sustainable biomass and the sale of renewable electricity to businesses.
Drax operates a generation portfolio of sustainable biomass, hydro-electric and pumped hydro storage assets across four sites in England and Scotland. It is the UK’s largest single source of renewable electricity. The company also operates a global bioenergy supply business with manufacturing facilities across the United States and Canada, producing compressed wood pellets for its own use and for customers in Europe and Asia.
The Group employs over 3,200 people in the UK, US, Canada and Japan.
PwC
The PwC UK Corporate Finance team advising on this transaction was Jonathan Massam, Robert Senger, Lucie Coussmaker, Anah Karim and Brittney Slavin.
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