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About the company
Harmony Energy Income Trust plc is a United Kingdom-based investment company. The Company’s principal activity is to invest in commercial scale battery energy storage and renewable energy generation projects, with an initial focus on a portfolio of utility scale battery energy storage systems (BESS), located in diverse locations across Great Britain. Its investment objective is to provide an attractive and sustainable level of income returns, with the potential for capital growth, by investing in commercial-scale energy storage and renewable energy generation projects, with an initial focus on a diversified portfolio of BESS located in Great Britain. The Company may invest in operational, under-construction or shovel-ready projects, and may also provide development finance to pipeline projects. It owns the Pillswood project with a capacity of 98 megawatts (MW) / 196 megawatt hours (MWh). It also owns the Bumpers Project with a capacity of 99 MW/198 MWh, located in Buckinghamshire.
- Revenue in GBP (TTM)-26.29m
- Net income in GBP-29.08m
- Incorporated2021
- Employees--
- LocationHarmony Energy Income Trust PLCThe Scalpel, 18th Floor, 52 Lime StreetLONDON EC3M 7AFUnited KingdomGBR
- Websitehttps://www.heitp.co.uk/
Profile
| Management group(s) | Harmony Energy Advisors Limited |
|---|---|
| AIC sector | Renewable Energy Infrastructure |
| ISIN | GB00BLNNFY18 |
| Launch date | 09 Nov 2021 |
| Share type | Ordinary Share |
| Structure | Investment Trust |
| Base currency | GBP |
Objective
To provide investors with an attractive and sustainable level of income returns, with the potential for capital growth, by investing in commercial scale energy storage and renewable energy generation projects, with an initial focus on a diversified portfolio of battery energy storage systems located in Great Britain.
Managed by
| Paul Mason, Max Slade, Peter Kavanagh, James Ritchie |
|---|
Management & contract fees
The Investment Adviser is entitled to a fee of (a) one twelfth of 0.9% per calendar month of the lesser of the (i) NAV or (ii) Average Market Capitalisation of the Company up to the threshold of £250,000,000 and (b) one twelfth of 0.8% per calendar month of the lesser of the (i) NAV or (ii) Average Market Capitalisation of the Company in excess of GBP 250m. The AIFM has appointed the Investment Adviser for an initial period of two years and thereafter the Investment Advisory Agreement is terminable on six months’ notice by the Company and twelve months’ notice by the Investment Adviser (or on immediate notice in certain customary circumstances).
Peer analysis
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|---|---|---|
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| Us Solar Fund PLC | -9.34m | -14.45m |
| Atrato Onsite Energy PLC | 4.84m | 2.07m |
| Rights and Issues Investment Trust PLC | 18.31m | 17.08m |
| Harmony Energy Income Trust PLC | -26.29m | -29.08m |
| Seraphim Space Investment Trust PLC | 10.45m | 6.73m |
| Northern 2 VCT plc | 5.51m | 2.85m |
| Northern 3 VCT PLC | 5.76m | 3.04m |
| Record Plc | 45.38m | 9.25m |
| CQS Natural Rsrcs Grwth Inc PLC | 13.30m | 9.13m |
| Invesco Perpetual UK Smlr Cos Inv Tr PLC | 28.79m | 26.52m |
| Artemis Alpha Trust PLC | 20.32m | 17.68m |
Institutional shareholders
| Holder | Shares | % Held |
|---|---|---|
| Schroder & Co. Ltd.as of 24 Jan 2024 | 40.56m | 17.86% |
| PrimeStone Capital LLPas of 28 Jun 2024 | 25.49m | 11.22% |
| EQ Investors Ltd.as of 31 Oct 2023 | 11.82m | 5.21% |
| Premier Fund Managers Ltd.as of 09 Feb 2024 | 11.46m | 5.05% |
| Close Asset Management Ltd.as of 18 Oct 2024 | 11.31m | 4.98% |
| Handelsbanken Wealth & Asset Management Ltd.as of 12 Feb 2024 | 9.96m | 4.39% |
| Schroder Investment Management Ltd.as of 31 Dec 2023 | 9.74m | 4.29% |
| Walker Crips Investment Management Ltd. (Invt Mgmt)as of 31 Oct 2023 | 8.61m | 3.79% |
| Waverton Investment Management Ltd.as of 31 Oct 2023 | 6.90m | 3.04% |
| Newton Investment Management Ltd.as of 30 Sep 2024 | 6.79m | 2.99% |
