Harmony Energy has sold a 90% stake to Alpiq, adding its multi-gigawatt battery storage pipeline and around 400 MW under construction to Alpiq’s portfolio. The transaction expands Alpiq’s BESS capabilities across Europe.
SNAPSHOT
Buyer: Alpiq SA
Target: Harmony Energy
Stake Acquired: 90% in Harmony Energy
Assets Under Construction: Around 400 MW
Delivered Portfolio: 18 BESS projects totaling over 700 MW
Pipeline: Multi-gigawatt European BESS portfolio
Markets: UK, Germany, France and Poland
Alpiq, Switzerland-based energy services and power generation company, has acquired a 90% stake in Harmony Energy, pan-European developer and operator of battery energy storage systems (BESS). The transaction strengthens Alpiq's flexibility strategy by adding a proven battery storage development platform approximately 400 MW of projects currently under construction and a multi-gigawatt pipeline spanning key European markets.
The acquisition expands Alpiq's presence across the entire BESS value chain, covering project development, engineering, construction, operation and commercial energy management. Harmony Energy will continue operating under its existing brand while maintaining its management team, entrepreneurial structure, and operating model. Co-founder and Chief Executive Officer Peter Kavanagh will continue leading the company and retain a 10% ownership stake.
Harmony Energy has established itself as one of Europe's experienced BESS developers, having successfully delivered 18 grid-scale battery storage projects with a combined installed capacity exceeding 700 MW. The company has developed expertise in project development, construction management and operational asset management while building a pipeline across the United Kingdom, Germany, France and Poland.
The acquisition also builds on the existing relationship between the two companies. Alpiq previously acquired two battery storage projects from Harmony Energy, including the 100 MW Cheviré BESS project in France, creating the foundation for a broader partnership.
Approximately 400 MW of projects under construction will immediately expand Alpiq's European battery storage portfolio. Among these is a UK battery storage project expected to connect to the electricity grid during the third quarter of 2026. Together with Harmony Energy's development pipeline, these assets position Alpiq to build and operate a multi-gigawatt BESS portfolio across Europe over the coming years.
Harmony Energy may continue its existing business model of selectively divesting certain projects or operational assets to third-party investors while progressing new developments. This approach provides flexibility in capital allocation while supporting continued pipeline growth.
The financial terms of the transaction have not been disclosed. Following the completion, Christoph Bellin, Head of BESS at Alpiq, will join Harmony Energy's Management Board while continuing his responsibilities within Alpiq. The acquisition also reflects growing investment in battery energy storage as European electricity markets require greater system flexibility to integrate increasing volumes of renewable energy and maintain grid reliability.