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According to the acquisition announcement, Drax sees the takeover as a “compelling opportunity” to add operating BESS assets to the wider Drax group’s FlexGen portfolio. Image: Harmony Energy Income Trust.

Drax lodges £200 million cash offer for Harmony Energy Income Trust

March 26, 2025
Drax has outbid Foresight Group LLP to acquire the share capital of the publicly-listed Harmony Energy Income Trust (HEIT) for £200 million.
close up of bess units

Harmony Energy Income Trust agrees to £190.8 million takeover offer

March 17, 2025
Battery energy storage system (BESS) investor Harmony Energy Income Trust has reached an agreement on the financial terms of a potential acquisition.
green bess units close up

Harmony Energy Income Trust reaches final stage of portfolio sale

December 20, 2024
Harmony Energy Income Trust (HEIT) has announced that it has reached a new milestone in the sale of its entire UK portfolio.
BESS units lined up, stretching away from the camera, between two green fields

Harmony Energy Income Trust energises 82.9MW of BESS capacity

September 12, 2024
Harmony Energy Income Trust (HEIT) has today (12 September) announced that it has energised two major UK battery energy storage systems (BESS).
HEIT's 98MW/196MWh Pillswood BESS project. Image: Harmony Energy.

Harmony Energy Income Trust’s BESS portfolio sale ‘progressing’ with offers expected

August 23, 2024
Harmony Energy Income Trust (HEIT) expects to receive offers for battery storage assets in its UK portfolio by the end of September.
A dark green battery energy storage system, outside, under a blue sky

Harmony Energy Income Trust interim results: ‘the worst is behind us’

June 27, 2024
Harmony Energy Income Trust (HEIT), a leading battery energy storage system (BESS) investment firm, has released its interim results for the six months to April 30 2024.
A dark green battery energy storage system, outside, under a blue sky

Harmony Energy Income Trust considers selling BESS portfolio, scraps dividend

May 31, 2024
Harmony Energy Income Trust (HEIT) has cancelled its first quarter dividend and appointed JLL to sell some or all of its BESS portfolio, partly to demonstrate that the fund is undervalued by the markets.
A battery storage site next to a green field on the left. Cloudy skies and concrete ground

HEIT predicts it can generate ‘attractive returns’ despite revenue woes

February 28, 2024
HEIT has predicted that it can generate “attractive returns” despite the ongoing woes in GB energy storage market revenues.
Contego BESS site between FRV and Harmony Energy. Image: Harmony Energy.

Harmony Energy clears six BESS assets in latest T-1 Capacity Market auction

February 22, 2024
Harmony Energy successfully bid six battery energy storage system projects in the latest T-1 Capacity Market auction for delivery years 2024/25, increasing its revenue for this period to £3.2 million.
Aerial view of HEIT's 99MW/198MWh Bumpers project in Surrey. Image: Harmony Energy Income Trust.

HEIT revenues ‘markedly lower’ due to ‘weak revenue environment for BESS’

February 2, 2024
Harmony Energy Income Trust (HEIT) signaled that BESS revenues for the year ended 31 October 2023 were markedly lower year-on-year.

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