Harmony Energy Income Trust PLC Farnham Project Energisation
01 June 2023 - 4:00PM
RNS Non-Regulatory
TIDMHEIT
Harmony Energy Income Trust PLC
01 June 2023
1 June 2023
Harmony Energy Income Trust plc
(the "Company")
Farnham Project Energisation
Harmony Energy Income Trust plc, which invests in battery energy
storage systems ("BESS") in Great Britain, is pleased to announce
that its 20 MW / 40 MWh Farnham project (located in Surrey) has
been successfully energised and is expected to be fully operational
by the end of June 2023. The Farnham project is the Company's third
project to be energised and takes the total operational capacity
within the Company's portfolio to 129 MW / 258 MWh.
The project was developed by Harmony Energy Limited (the
"Developer") and construction of the project was managed by Tesla
with oversight from the Harmony Energy Project Team. Farnham will
be operated through Autobidder, Tesla's algorithmic trading
platform, which has also been deployed at the Company's Pillswood
and Broadditch projects.
The Company's five projects under construction continue on
track, in line with their timelines, with the Developer's own
project management teams on site, overseeing progress.
Peter Kavanagh, Director of Harmony Energy Advisors Limited
said:
"The roll out of our BESS projects continues at pace, as
outlined at IPO. We are focussed on playing an integral role in the
UK's transition to renewable energy alongside delivering attractive
and sustainable returns to shareholders.
"Farnham is our third project to be energised, taking our total
operational capacity to 129 MW. Looking ahead, we remain on track
to increase the operational capacity of the Company's portfolio to
over 300 MW by year end."
END
For further information, please contact:
Harmony Energy Advisors Limited
Paul Mason
Max Slade
Peter Kavanagh
James Ritchie
info@harmonyenergy.co.uk
Berenberg
Gillian Martin
Ben Wright
Dan Gee-Summons +44 (0)20 3207 7800
Camarco
Eddie Livingstone-Learmonth
Georgia Edmonds
Lily Pettifar +44 (0)20 3757 4980
JTC (UK) Limited
Uloma Adighibe
Harmony.CoSec@jtcgroup.com +44 (0)20 7409 0181
LEI: 254900O3XI3CJNTKR453
About Harmony Energy Advisors Limited (the "Investment
Adviser")
The Investment Adviser is a wholly owned subsidiary of Harmony
Energy Limited. The Investment Adviser is an appointed
representative of Laven Advisors LLP, which is authorised and
regulated by the Financial Conduct Authority.
The management team of the Investment Adviser have been
exclusively focussed on the energy storage sector (across multiple
projects) in Great Britain for over six years, both from the point
of view of asset owner/developer and in a third-party advisory
capacity.
Important legal information
This announcement contains (or may contain) certain forward
looking statements with respect to certain of the Company's plans
and/or the plans of one or more of its investee companies and their
respective current goals and expectations relating to their
respective future financial condition and performance and which
involve a number of risks and uncertainties. The Company cautions
readers that no forward-looking statement is a guarantee of future
performance and that actual results could differ materially from
those contained in the forward-looking statements.
This information is provided by Reach, the non-regulatory press
release distribution service of RNS, part of the London Stock
Exchange. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
NRAZZGFKMMNGFZZ
(END) Dow Jones Newswires
June 01, 2023 02:00 ET (06:00 GMT)
Harmony Energy Income (LSE:HEIT)
Historical Stock Chart
From Apr 2024 to May 2024
Harmony Energy Income (LSE:HEIT)
Historical Stock Chart
From May 2023 to May 2024