Harmony Energy sells 99MW BESS project to Pulse Clean Energy

September 6, 2023

Harmony Energy Income Trust (HEIT) has completed the sale of its “shovel-ready” 99MW Rye Common battery energy storage development project in Farnham, Surrey in the UK to Pulse Clean Energy.

HEIT said funding options for the construction of the Rye Common project had been considered, including potential vendor financing and other “deferred capex structures”, but it was ultimately determined by the board that a sale of the project should also be explored.

“The sale process attracted multiple bidders at attractive prices demonstrating the continued high level of interest for BESS [battery energy storage system] projects with near-term energisation potential,” a HEIT statement said.

The statement added that, following the sale, HEIT’s portfolio comprises 395.4 MW / 790.8 MWh across eight BESS projects, of which three are operational and five are under construction.