Foresight Energy Infrastructure Partners II and Blackmead Infrastructure have acquired 100% of Harmony Energy Income Trust and taken the company private, securing ownership of the UK’s largest operational two-hour battery energy storage portfolio.
The deal, which sees Foresight take a 49% stake and portfolio company Blackmead acquire the remaining 51%, covers eight grid-connected battery assets across England and Scotland with a combined capacity of 400MW/800MWh.
Foresight said the acquisition supports its strategy to build a pan-European battery storage platform and adds a revenue-generating portfolio in one of Europe’s most mature storage markets.
“This acquisition represents a significant milestone for FEIP II and further underscores our commitment to accelerating the energy transition through high-quality, revenue-generating infrastructure,” said Richard Thompson, co-manager of Foresight Energy Infrastructure Partners.
“Battery storage is critical to enabling a renewables-led power system, and this portfolio offers immediate scale, strong economics, and proven performance,” he said.
Foresight said the assets will help displace fossil fuel generation at times of peak demand and improve overall grid efficiency.
The fund is also targeting growth investments in emerging battery markets across Europe, including Germany, Italy, Spain and the Nordics.