UK energy storage fund manager Harmony Energy has said revenues in 2023 were significantly lower than 2022, postponing its dividend, after peer Gresham House said the same thing earlier in the week.

Company valuations and developer premiums for project sales have come down in the UK market amidst rising financing costs and plummeting revenues.

UK battery storage investor Harmony Energy Income Trust (HEIT) has energised two grid-scale battery energy storage system (BESS) assets, including one of the same size as its flagship ‘largest BESS project in Europe’.

The optimisation arm of oil and gas major bp will provide power trading and optimisation services for two UK battery energy storage system (BESS) projects owned by Harmony Energy Income Trust (HEIT).

The Poland arm of UK-based developer Harmony Energy is looking to bid in around 500MW of battery storage projects into the upcoming capacity market auction, executive director Michał Maćkowiak said.

Europe’s biggest battery storage system earned £2.3 million (US$2.85 million) revenues in Q1 2023.

Envision Energy has partnered with Harmony Energy Income Trust to provide battery energy storage systems (BESS) for projects in the UK.

Battery storage projects totalling 627MW were awarded contracts in the UK’s 2023-24 Capacity Market auction which concluded yesterday (14 February), nearly a two-thirds jump on last year’s.

UK clean energy developer Harmony Energy has brought online a 98MW/196MWh battery energy storage system (BESS) project.

Fotowatio Renewable Ventures (FRV) and UK developer Harmony Energy have begun construction of their 198MWh Tesla battery project in England.