By Adria Calatayud

Drax Group PLC (DRX.LN) is in talks with Iberdrola SA (IBE.MC) over the potential acquisition of a U.K. portfolio of pumped storage, renewable hydro and gas-fired generation assets, Drax said over the weekend.

The discussions are preliminary and there can be no certainty of any deal, the U.K. power-generation said in response to press speculation.

Any potential acquisition would be fully debt-funded and subject to shareholder approval, Drax said.

Write to Adria Calatayud at adria.calatayudvaello@dowjones.com

(END) Dow Jones Newswires

September 24, 2018 01:17 ET (05:17 GMT)

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