UK-based clean energy developer Harmony Energy now has a pipeline of BESS projects that are ready-to-build in France, Germany and Poland, its chief investment officer said at the Energy Storage Summit EU in London last month.
The company owns and operates the majority of its battery energy storage system (BESS) projects in the UK through its listed fund Harmony Energy Income Trust (HEIT), which released its full-year results recently.
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Like the other UK BESS fund investment advisers/managers – Gresham House and Gore Street Capital – Harmony Energy is going into new energy storage markets as UK revenues tumble.
“We’re moving in a big way into the French market but also looking at Germany and Poland. France, Germany and Poland are our next big moves though there are opportunities elsewhere we are exploring,” said Paul Mason, Harmony chief investment officer, at the ‘Highlighting the Investors’ Current Appetite for Energy Storage’ panel on Day 1 of the two-day event.
“We’re now in a place where we’ve got a really good pipeline that’s ready-to-build in all those places.”
As reported by Energy-Storage.news last year, Harmony Energy Poland was aiming to bid for 500MW of BESS projects into Poland’s capacity market auction at the end of 2023. Developer and independent power producer (IPP) Greenvolt won most of the awards that went to BESS in the auction.
Talking about Harmony’s approach to investing in new countries, Mason added: “It’s important to have local contacts on the ground that understand development, and on top of that we can layer on processes, systems and a way around developing BESS specifically.”
Harmony Energy is also active in wind and solar project development alongside energy storage.
