JPMorgan Leads £1.1 Billion Loan for Drax's Renewable Energy Deal

Banks JPMorgan Chase & Co. and Banco Santander SA have led a £1.1 billion loan to fund Drax Group Plc's purchase of renewable energy company Bluefield Solar Income Fund.

The debt financing, which also includes NatWest Group Plc, provides bridge funding for the acquisition, according to people familiar with the matter.

The loan totals more than £1.1 billion ($1.5 billion), underscoring the significant investment in renewable energy.