Energie -investment firm Foresight Group has taken over the Battery Energy Storage System (BESS) Investment Fund Harmony Energy Income Trust (Heit).
Via its Foresight Energy Infrastructure Partners II Fund, Foresight has acquired an interest of 49% in Heit. It acquired the other interest of 51% through one of his portfolio companies, Blackmead Infrastructure Limited.
Heit has a portfolio of eight with a grid connected 2 -hour Bess with a total capacity of approximately 400 MW/800MWH, of which Foresight said it is the “largest” portfolio of the UK.
Foresight said that acquiring Heit promotes its strategy to build a “Pan-European battery storage platform”. It said that as one of “Europe’s most mature storage markets”, the new British portfolio could support investments in other markets that it expects to mature in the future, such as Spain, Germany, Italy and the Nordics.
Richard Thompson, co-manager, Foresight Energy Infrastructure Partners, said: “Battery storage is crucial to make a renewable energy sources possible, and this portfolio offers immediate scale, strong economy and proven performance.”
Heit said in August 2024 that the sale of portfolio “progressed”. Since then, the offers from multiple bidders, including a cash offer of £ 200 million from Drax Drax, which was higher than the supply from Foresight. Drax, however, withdrew his offer in May after the foresighting gaze increased his bid.
The sale of the UK portfolio of Heit has asked questions about the viability of listed funds for Bess -Activa. Our sister site, Current ±, Published analysis that said Bess systems is possible Too volatile for the listed fund model. An unclear industrial source said that the structure of the listed funds “works well for renewable energy sources such as Solar that regularly pay, but Bess is fundamentally volatile assets, so you need investors who understand that you may have 12 bad months and then 12 great.”
However, taking Bess -Activa Privé is not the only option. UK-Genotered BESS Fund Gresham House Energy Storage Fund (Grid) corresponded to a fixed price, two years toll Dealing with Octopus -Energy For half of his Bess portfolio. This measure can stabilize income and reduce the investment risk for listed funds.
Earlier this week, Gresham House closed long-term floor price agreements with Statkraft and Markel Bermuda that will come into force after the Octopus Toll-deal ends next year.
