# Drax to acquire Pinnacle Renewable Energy for C$385M

British energy company Drax agreed to acquire Pinnacle Renewable Energy at C$11.30 per share, valuing Pinnacle at C$385 million, creating a leading sustainable biomass supply and power generation business.

- Type: Acquisition
- Announced: 2021-02-08
- Where: Canada
- Value: $303.0M (385.0M CAD)
- Status: announced
- Capacity: 4.9 million tonnes of biomass wood pellets annually from 2022
- Products: sustainable biomass, wood pellets
- Sectors: [Power Generation Equipment](https://endata.com/sectors/power-generation-equipment.md)

## Companies

- [Drax](https://endata.com/companies/15999.md) (acquirer)
- [Pinnacle Renewable Energy](https://endata.com/companies/44227.md) (target)

## Sources

- [canadianmanufacturing.com](https://www.canadianmanufacturing.com/manufacturing/drax-to-acquire-pinnacle-renewable-energy-266799/), 2021-02-08: "I am excited about this deal which positions Drax as the world's leading sustainable biomass generation and supply business."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.