The BESS project becomes the third to be energised in its portfolio. Image: Harmony Energy.
Harmony Energy Income Trust (HEIT) has announced its 20MW/40MWh battery energy storage project in Farnham has been successfully energised.
HEIT, a fund which invests in battery energy storage systems (BESS), stated that in achieving this key milestone for the project, the BESS is on track to be fully operational by the end of this month (June 2023). This will take HEIT’s operational portfolio to 129MW/258MWh.
Farnham is HEIT’s third project to be energised following its 98MW/196MWh Pillswood BESS project, which went live ahead of schedule in November 2022 as reported by Solar Power Portal, and its second BESS project the 11MW/22MWh Broadditch project located in Kent.
The Pillswood BESS project was one of “GB’s best performing BESS projects” in Q1 2023, which was covered by Solar Power Portal last week. According to Harmony Energy’s Trading Update, as of 30 April 2023, the project had been one of the best performing over the course of Q1 2023 and had generated £2.3 million in revenue between commencement of operations in late 2022 and 30 April 2023.
Turning our attention back to the Farnham BESS project, the project was developed by Harmony Energy Limited and construction of the project was managed by Tesla with oversight from the Harmony Energy Project Team. Farnham will be operated via Autobidder, Tesla’s algorithmic trading platform which has also been utilised at both the Pillswood and Broadditch BESS projects.
BEIT has five projects currently under construction which include: Rusholme (35MW/70MWh), Bumpers (99MW/198MWh), Little Raith (49.5MW/99MWh), Wormald Green (33MW/66MWh) and Hawthorn Pit (49.9MW/99.8MWh).
“The roll out of our BESS projects continues at pace, as outlined at IPO. We are focussed on playing an integral role in the UK's transition to renewable energy alongside delivering attractive and sustainable returns to shareholders,” said Peter Kavanagh, director of Harmony Energy Advisors Limited.
“Farnham is our third project to be energised, taking our total operational capacity to 129MW. Looking ahead, we remain on track to increase the operational capacity of the Company’s portfolio to over 300MW by year end.”