HARMONY ENERGY INCOME TRUST PLC

Earnings Release • Sep 12, 2024

National Storage Mechanism | Additional information

RNS Number : 8521D

Harmony Energy Income Trust PLC

12 September 2024

12 September 2024

Harmony Energy Income Trust plc  (the "Company")  

Hawthorn Pit and Wormald Green Energisations  

Harmony Energy Income Trust plc, which invests in battery energy storage systems ("BESS") in Great Britain, is pleased to announce that its 99.8 MWh / 49.9 MW Hawthorn Pit project (located in County Durham) and its 66 MWh / 33 MW Wormald Green project (located in Yorkshire) have been successfully energised and are expected to be fully operational in the coming weeks . The Hawthorn Pit and Wormald Green projects are the Company's seventh and eight h projects to be energised and takes the Company's total operational capacity to 100% of the portfolio ( 790.8 MWh / 395.4 MW).  

Both projects utilise Envision Energy's 2-hour duration, liquid-cooled energy storage systems, which are capable of providing energy trading, capacity services, and frequency regulation services. These projects mark Envision Energy's first operational batteries in Great Britain and the first in partnership with the Company.

Developed by Harmony Energy Limited, the projects are the first BESS assets bp has contracted to optimise since its acquisition and integration of the digital energy platform Open Energi in 2021.

Norman Crighton, Chair of Harmony Energy Income Trust plc, said:  

"We are pleased to announce the energisation of the Hawthorn Pit and Wormald Green projects, an important milestone for the Company, and one that takes Harmony Energy Income Trust's total operational capacity to 790.8 MWh / 395.4 MW, equating to 100% of the portfolio .  It's been a pleasure to work with Envision on these projects and we look forward to bp commencing its optimisation services. 

To have completed construction on eight BESS projects since IPO in November 2021 is a remarkable achievement and testament to the skills and dedication of our key suppliers, advisors and project delivery team. Battery storage continues to play a crucial role in the UK's transition to Net Zero, and our portfolio is a key contributor to this."

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For further information, please contact:  

Harmony Energy Advisors Limited Paul Mason Max Slade Peter Kavanagh James Ritchie	info@harmonyenergy.co.uk
Panmure Liberum Limited Chris Clarke Darren Vickers Will King	+44 (0)20 3100 2000
Stifel Nicolaus Europe Limited  Mark Young Edward Gibson-Watt Rajpal Padam Madison Kominski	+44 (0)20 7710 7600
Camarco Eddie Livingstone-Learmonth Andrew Turner	+44 (0)20 3757 4980
JTC (UK) Limited Uloma Adighibe	+44 (0)20 3832 3877 Harmony.CoSec@jtcgroup.com

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 focused 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.

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