LONDON (dpa-AFX) - U.K.-headquartered Drax Group plc (DRX) engaged in renewable power generation on Wednesday announced the sale of up to 90,000 Small & Medium-sized customer meter points from Opus Energy Group Limited which it acquired in 2017, to EDF Energy Customers Limited.
The asset sale of the majority of the Opus customer meter points follows the completion of a strategic review of the Group's non-core SME energy supply business.
Drax expects the sale to support its decarbonisation strategy and the development of its Energy Solutions business which is focused on I&C customers, renewable power and energy services.
The Energy Solutions business is unaffected by the sale of the Opus SME assets and there is no change to the Group's Energy Solutions EBITDA expectations as a result of this process.
The transaction is expected to conclude in the third quarter of 2024.
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