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Harmony Energy Income Trust PLC (LSE:HEIT) has reached a significant milestone by successfully energizing its battery storage projects in Yorkshire and Durham, marking the completion of its entire portfolio.
The company announced that the Hawthorn Pit and Wormald Green battery storage projects have been energized, with full operational status anticipated in the coming weeks. The Hawthorn Pit project, with a capacity of 99.8 megawatt-hours, and the Wormald Green project, with 66 megawatt-hours, are the seventh and eighth sites to come online for Harmony. This brings the total energy storage capacity of the company’s portfolio to 790.8 megawatt-hours.
Norman Crighton, Chair of Harmony Energy Income Trust, commented on the achievement, stating, “To have completed construction on eight battery energy storage system projects since our IPO in November 2021 is a remarkable accomplishment. Battery storage is crucial for the UK’s transition to net zero, and our portfolio is a key player in this transition.”
The newly energized projects use Envision Energy’s two-hour, liquid-cooled storage systems. These systems are designed to provide vital capacity and frequency services to the electrical grid, while also facilitating energy trading. This technological choice underscores Harmony’s commitment to deploying advanced solutions to support grid stability and optimize energy use.
The successful activation of these projects comes as Harmony continues to expand its role in the renewable energy sector, aligning with broader national goals of reducing carbon emissions and increasing energy sustainability. By enhancing grid resilience and supporting energy market operations, Harmony’s battery storage systems are positioned to play an integral role in the UK's energy infrastructure.
Following the announcement of these developments, Harmony Energy Income Trust saw its shares rise by 0.6%, reaching 48.80p. This uptick reflects investor confidence in the company’s ongoing progress and its strategic contributions to the renewable energy sector. The completion of these projects marks a pivotal moment for Harmony as it continues to advance its mission and support the transition to a more sustainable energy future.
