Harmony Energy plans to go public to provide funding for the deployment of 213.5MW energy storage projects

　　Harmony Energy Income Trust is a battery energy storage investment fund company operated by British renewable energy and energy storage developer Harmony Energy. The company plans to conduct an initial public offering (IPO) and will provide funds for the development of 213.5MW energy storage projects.

　　Harmony Energy's energy storage project in the UK through a joint venture with FRV

　　The company will be listed on the professional fund section of the main market of the London Stock Exchange through institutional placements and subscription offers, with an initial issue price of 100 pence per share. Harmony Energy's management team and employees will subscribe for 2.5 million shares.

　　Harmony Energy Income Trust plans to use the IPO to fund a diversified portfolio of battery energy storage systems in the UK. The company plans to acquire five energy storage projects with a total installed capacity of 213.5MW/427MWh from Harmony Energy Limited.

　　The company has signed a contract with Tesla for this initial investment portfolio, including pricing and delivery time. Cooperation with battery manufacturers will enable them to use the Tesla Megapack energy storage system and Autobidder AI revenue optimization platform, and operate this energy storage asset with a 15-year warranty agreement.

　　In addition to this initial investment portfolio, there is a 99MW/198MWh energy storage project that will be acquired after approval, increasing the initial investment portfolio of Harmony Energy Income Trust to 312MW/625MWh. The company will also acquire a 687.5MW battery energy storage project that is being planned and deployed.

　　Overall, this will enable the company's initial target energy storage portfolio to reach 1GW, and will also have the priority of Harmony Energy's future project acquisitions.

　　In the long run, the increased demand for power system balance and ancillary services, as well as increased price volatility in the wholesale market, will bring more deployment opportunities for battery energy storage systems.

　　Lithium-ion battery (LIB) has become the main energy storage solution in modern social life. Among them, lithium iron phosphate batteries are a perfect substitute for lead-acid batteries, and are the first choice for grid-connected peak shaving, off-grid energy storage, photovoltaic energy storage, UPS, data center and other industries.