London Stock Exchange welcomes Harmony Energy Income Trust plc to the Main Market

London Stock Exchange today welcomes Harmony Energy Income Trust plc, an investment company that invests in UK energy storage assets, to the Specialist Fund Segment of the Main Market of the London Stock Exchange.

Harmony Energy Income Trust invests in commercial scale energy storage and renewable energy generation projects, with an initial focus on a diversified portfolio of battery energy storage systems (“BESS”) located in Great Britain. Battery storage ensures the balancing of the supply and demand of the electricity grid and maximises the use of renewable energy produced. Demand for energy varies according to the time of day and renewable power generation varies according to the weather.

The Company has contracted with Tesla for its initial portfolio of battery storage projects. This means they will benefit from Tesla’s 2-hour duration Megapack systems and Autobidder AI revenue optimization platform. Harmony Energy Advisors Limited will provide investment advisory and operational asset services. The portfolio of batteries that Harmony owns is 312.5 MW/ 625MWh.

Quick facts

Track
Market: Main Market
Instrument market cap (£m)
-
Listing/Admission to trading
09 Nov 2021
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