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1 Aug 2024 07:00
1 August 2024
Harmony Energy Income Trust plc (the "Company")
Rusholme Project Energisation
Harmony Energy Income Trust plc, which invests in battery energy storage systems ("BESS") in Great Britain, is pleased to announce that its 70 MWh / 35 MW Rusholme project (located in North Yorkshire) has been successfully energised and is expected to be fully operational in all markets in early August 2024. The Rusholme project is the Company's sixth project to be energised and takes the Company's total operational capacity to 625 MWh / 312.5 MW, equating to 79% of the portfolio (by MW).
The project was developed by Harmony Energy Limited (the "Developer"), and construction was managed by Tesla with oversight from the Harmony Energy Project Team. Rusholme will be operated through Autobidder, Tesla's algorithmic trading platform, which has also been deployed at the Company's other five projects, including the multi-award-winning Pillswood project.
The Company's two remaining projects under construction, Wormald Green (66 MWh / 33 MW) and Hawthorn Pit (99.8 MWh / 49.9 MW), remain on track for energisation during Q3 2024, with the Developer's own project management teams on site, overseeing progress.
Norman Crighton, Chair of Harmony Energy Income Trust plc, said:
"We are pleased to have energised another project in our portfolio, taking Harmony Energy Income Trust's total operational capacity to 625 MWh, or 79% of the total portfolio (by MW). The energisation of the Rusholme project marks another milestone in UK energy transition and adoption of BESS, further enabling the country to meet its Net Zero targets."
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For further information, please contact:
Harmony Energy Advisors Limited Paul Mason Max Slade Peter Kavanagh James Ritchie
| info@harmonyenergy.co.uk |
Panmure Liberum Ltd Chris Clarke Darren Vickers Will King
| +44 (0)20 3100 2000 |
Stifel Nicolaus Europe Limited Mark Young Edward Gibson-Watt Rajpal Padam Madison Kominski
| +44 (0)20 7710 7600 |
Camarco Eddie Livingstone-Learmonth Andrew Turner
| +44 (0)20 3757 4980 |
JTC (UK) Limited Uloma Adighibe | +44 (0)20 3832 3877 Harmony.CoSec@jtcgroup.com |
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LEI: 254900O3XI3CJNTKR453
About Harmony Energy Advisors Limited (the "Investment Adviser")
The Investment Adviser is a wholly owned subsidiary of Harmony Energy Limited.
The management team of the Investment Adviser have been exclusively focussed on the energy storage sector (across multiple projects) in Great Britain for over seven years, both from the point of view of asset owner/developer and in a third-party advisory capacity. The Investment Adviser is an appointed representative of Laven Advisors LLP, which is authorised and regulated by the Financial Conduct Authority.
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