Scheme document published for the £210 million recommended cash acquisition of Harmony Energy Income by Foresight Group
May 2025
Harmony Energy Income Trust (HEIT) is an LSE Main Market listed company is one of the UK’s leading developers, owners and operators of utility-scale battery energy storage. They also have experience developing, building and operating wind and solar projects, both independently and in partnership with others and has recently expanded to France, New Zealand, Poland and Germany.
With decades of experience, Foresight offers investors access to attractive investment opportunities at the forefront of change. Foresight actively builds and grows investment solutions to support the energy transition, decarbonise industry, enhance nature recovery and realise the economic potential of ambitious companies.
A constituent of the FTSE 250 index, Foresight’s diversified investment strategies combine financial and operational skillsets to maximise asset value and provide attractive returns to its investors. Its wide range of private and public funds is complemented with a variety of investment solutions designed for the retail market.
Further to the previous £200 recommended cash acquisition offer by Drax, on 16th April 2025, the boards of PP Bidco, a newly formed company indirectly and wholly controlled by two funds within the portfolio of funds managed by Foresight Group, announced that they had reached agreement on the terms of an increased £210 million recommended cash acquisition pursuant to which BidCo shall acquire the entire issued and to be issued ordinary share capital of HEIT.
Publication of the Scheme Document
Having helped HEIT with the production of their admission document when they floated on Specialist Fund Segment of the Main Market of the LSE in November 2021, which led to further help with the design and production of their inaugural annual report, the Perivan shareholder communications team was delighted to work with Gowling who acted as Legal Adviser on the Scheme and associated ancillary documents, which were successfully published and posted to qualifying shareholders on 6th May 2025.
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Perivan specialise in producing and publishing financial documents relating to shareholder and investor communications for quoted companies and are a market leader for the production of documentation relating to Mergers & Acquisitions.
