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HEIT has predicted that it can generate “attractive returns” despite the ongoing woes in GB energy storage market revenues.

Harmony Energy successfully bid six battery energy storage system projects in the latest T-1 Capacity Market auction for delivery years 2024/25, increasing its revenue for this period to £3.2 million.

Harmony Energy Income Trust (HEIT) signaled that BESS revenues for the year ended 31 October 2023 were markedly lower year-on-year.

Harmony Energy Income Trust has said its 98MW/196MWh Pillswood battery energy storage system (BESS) was one of “GB’s best performing BESS projects” in Q1 of 2023.

In its first full year since IPO, Harmony Energy Income Trust (HEIT) has seen its asset value grow by 24.84% to £257.8 million, as demand for storage assets continues in Britain.