Foresight Group Secures Major Stake in UK's Largest Battery Storage
Deal News | Jul 20, 2025 | Foresight Group
Foresight Group's flagship fund, Foresight Energy Infrastructure Partners II, has acquired a 49% stake in Harmony Energy Income Trust plc, in partnership with portfolio company Blackmead Infrastructure Limited, which purchased the remaining 51%, effectively taking HEIT private. This marks a significant leap forward in European decarbonisation efforts, as this acquisition secures ownership of the United Kingdom’s largest two-hour duration Battery Energy Storage System portfolio, with a total capacity of 400MW/800MWh. The asset base consists of eight operational, grid-connected installations across England and Scotland. Foresight's commitment to sustainability objectives aligns with this strategic acquisition, enhancing the efficiency of grid operations and displacing fossil fuel generation during peak periods. As FEIP II aims to develop a pan-European battery storage platform, this acquisition serves as a foundational move supporting growth investments in emerging storage markets in Europe.
Sectors
- Renewable Energy
- Infrastructure Investment
Geography
- United Kingdom – The battery storage portfolio acquired is located across England and Scotland, showcasing the UK as a leading market in operational battery systems.
- Europe – The article discusses Foresight Group's strategy to expand its battery storage platform across Europe's mature energy markets.
Industry
- Renewable Energy – The acquisition aligns with the renewable energy sector, focusing on battery storage systems crucial for decarbonisation and supporting renewable energy integration into grids.
- Infrastructure Investment – Involves investments in physical infrastructures such as battery storage facilities, which are foundational for energy transitions and grid stability.
Financials
- 49% shareholding – Foresight Group's acquisition stake in Harmony Energy Income Trust plc.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Foresight Group LLP | Buyer | Company | PE firm managing Foresight Energy Infrastructure Partners II, acquiring a stake in the UK's largest battery storage portfolio. |
| Harmony Energy Income Trust plc (HEIT) | Target Company | Company | A UK-based company holding a substantial two-hour duration battery storage portfolio. |
| Blackmead Infrastructure Limited | Buyer | Company | A portfolio company of Foresight Group acquiring a 51% stake in HEIT. |
| Richard Thompson | Co-Manager | Person | Co-Manager of Foresight Energy Infrastructure Partners, commenting on the strategic importance of the acquisition. |