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."
END
For further information, please
contact:
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Harmony Energy Advisors Limited
Paul Mason
Max Slade
Peter Kavanagh
James Ritchie
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info@harmonyenergy.co.uk
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Panmure Liberum Ltd
Chris Clarke
Darren Vickers
Will King
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+44 (0)20 3100
2000
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Stifel Nicolaus Europe Limited
Mark Young
Edward
Gibson-Watt
Rajpal Padam
Madison
Kominski
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+44 (0)20 7710
7600
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Camarco
Eddie
Livingstone-Learmonth
Andrew Turner
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+44 (0)20 3757
4980
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JTC (UK) Limited
Uloma Adighibe
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+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.