Foresight Energy Infrastructure Partners II (FEIP II) and Blackmead Infrastructure have jointly acquired Harmony Energy Income Trust, taking the UK-listed battery storage firm private in a move that adds 400MW of grid-connected energy storage to their portfolio.
Under the terms of the agreement, Foresight acquired a 49% stake, while Blackmead, one of its portfolio companies, took the remaining 51%. The transaction covers eight operational battery assets across England and Scotland, with a combined capacity of 400 megawatts (MW) and 800 megawatt-hours (MWh), making it the UK’s largest two-hour duration battery energy storage portfolio currently in operation.
“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.
Foresight said the acquisition supports its broader strategy to develop a pan-European battery storage platform, adding that the UK market offers strong commercial foundations due to its maturity and grid flexibility needs.
“Battery storage is critical to enabling a renewables-led power system, and this portfolio offers immediate scale, strong economics, and proven performance,” Thompson added.
The firm said the acquired assets will support the displacement of fossil fuel generation during peak electricity demand periods and contribute to improved grid stability and efficiency.
Foresight also noted that it is targeting further growth across key European markets, including Germany, Italy, Spain and the Nordics, as part of its energy transition strategy.
