UK BESS fund Harmony Energy Income Trust scraps dividend, considers selling portfolio
- Admin
- May 31, 2024
- 1 min read
Harmony Energy Income Trust (HEIT) has appointed JLL to sell some or all of its BESS assets in order to demonstrate the fund's undervaluation by the markets. Despite revenue increase, the firm is seeking offers to maximize value. HEIT has five operational UK battery energy storage system (BESS) projects with additional projects to be commissioned this year. Revenues for all BESS projects fell in 2023 but have since recovered due to various factors. Three remaining BESS projects have had their commercial operation dates pushed back. Harmony Energy is taking steps to expedite project completion and claim compensation for delays.
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