Drax Group is acquiring Edinburgh-based Flexitricity, which provides reserve electricity to the National Grid, from Quinbrook in a £36 million deal.
Founded in 2004, Flexitricity employs about 85 staff who will transfer to Drax.
In 2020 it was sold by Swiss firm Alpiq Digital to Reserve Power Holdings (Jersey), a division of Quinbrook in a deal believed to be worth £15.4m.
Drax said the deal will support its plans to expand its flexible generation and battery storage portfolio.
Group CEO, Will Gardiner, said: “We are ambitious about growing and developing our FlexGen business and Flexitricity’s technology and team are a strong strategic fit for us.
“Adding Flexitricity’s expertise and capability which uses AI and advanced machine learning software, delivered via their proprietary platform, supports our options for growth.
The deal is expected to complete in the first quarter.
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