Foresight Energy Infrastructure Partners II has acquired a 49% stake in Harmony Energy Income Trust, taking it private and securing ownership of the UK's largest operational two-hour duration battery storage portfolio.

Target Information

Foresight Energy Infrastructure Partners II S.C.Sp ("FEIP II"), an energy transition fund managed by Foresight Group LLP, has successfully acquired a 49% stake in Harmony Energy Income Trust plc ("HEIT"). The acquisition is complemented by Blackmead Infrastructure Limited, which secured the remaining 51%, effectively taking HEIT private. This strategic move positions FEIP II to control the largest operational two-hour duration Battery Energy Storage System (BESS) portfolio in the UK, which includes eight fully operational, grid-connected assets distributed across England and Scotland, boasting a total capacity of approximately 400MW/800MWh.

Industry Overview

The UK's commitment to transitioning to a low-carbon economy is increasingly reliant on advanced energy storage solutions. As Europe aims for a more sustainable energy system, battery storage technologies have become essential for ensuring grid stability and facilitating decarbonisation efforts. The growing demand for renewable energy sources necessitates enhanced storage solutions capable of managing intermittent supply.

The BESS industry within the UK is set to flourish, primarily driven by government incentives and a shift towards greener energy portfolios. Current engagement in the sector focuses on scaling up technologies that suppo