Harmony Energy Income Trust plc
We advised Harmony Energy Income Trust PLC on its Initial Public Offering on the Main Market of London Stock Exchange, raising gross proceeds of £186.5 million through a placing and offer for subscription and issuing c. 23.5 million ordinary shares in connection with the acquisition of a seed portfolio of battery energy storage projects.
This transaction brought together Fasken London's experience in UK equity capital markets, including advising on 5 new admissions to the London Stock Exchange's markets in 2021, with our extensive track record in battery energy storage and renewable energy projects.
By absorbing excess renewable power during times of oversupply and putting it back onto the system during times of undersupply, battery energy storage systems maximise the use of renewable power produced as well as helping to balance electricity supply with demand.
The Fasken team comprised Guy Winter, Laura Bradley, Chloe Gill-Braun, Yanal Abul Failat, Lolu Koleowu, Lucinda Patrick-Patel and Carlie Marrows.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
