Drax Group has reported a fall in first-half adjusted EBITDA to £279 million, down from £460 million in the same period last year, as the company continues to invest in expanding its generation portfolio beyond biomass. Performance by business areaBiomass Generation remained the largest contributor to group earnings but saw EBITDA fall to £159 million from £332 million, which Drax attributed primarily to a lower achieved power price compared with the first half of 2025. Growth and capital allocationCapital investment rose to £85 million in the first half, from £59 million a year earlier, with £46 million directed toward growth projects including battery storage, pumped storage and hydro upgrades, and OCGTs. The deal would add 0.9GW of solar and wind capacity, along with a pipeline of 2.9GW of battery storage and solar projects. Drax also confirmed that the FCA has closed its investigation into historical statements regarding the company's biomass sourcing and the compliance of its 2021-2023 annual reports, with no action taken.