Harmony Energy Income Trust plc (HEIT plc), an investment company listed on the Specialist Fund Segment of the LSE, has completed the acquisition of three energy storage projects known as “Wormald Green”, “Hawthorn Pit” and “Rye Common”, with a total capacity of 181.9 MW / 363.8 MWh from Harmony Energy Limited (HEL) and Ritchie-Bland Energy (Number 2) Ltd (RBE).
The pipeline projects were acquired by HEIT plc pursuant to the terms of a Pipeline Agreement entered into between HEIT plc, HEL and RBE at the time of HEIT plc’s IPO. The Pipeline Agreement grants HEIT plc preferential rights to to acquire a pipeline of energy storage projects from the pipeline sellers.
Fasken advised HEIT plc with a team co-led by Guy Winter and Laura Bradley, and included Chloe Gill-Braun, Lucinda Patrick-Patel, Arthur Caplin, Carlie Marrows (M&A) and Ramona Ramos (Paralegal).
Jurisdiction
- United Kingdom
