Listed funds: Drax bids higher for HEIT
Executive Summary:
Harmony Energy Income Trust (HEIT) first publicized its ongoing asset sale process on 30 May 2024.
On 17 March 2025, HEIT announced a possible offer by Foresight Group LLP at 84p per share.
On 25 March 2025, Drax BESS Holdco proposed a higher offer of 88p per share.
In this report you will find:
- A comparison of Drax and Foresight’s offers.
- An assessment of the implied revenue uplift at the higher valuation.
- Synergies between Drax and HEIT’s portfolio.
Note: This article is for informative purposes and does not constitute financial advice or recommendation.
Multiple offers for HEIT ’s portfolio indicate growing investor appetite for GB battery storage
HEIT shares have climbed 35% since announcing the first possible cash offer on 17 March. The effect has extended across the sector. Gresham House Energy Storage Fund (GRID) is up 34% and Gore Street Energy Storage Fund (GSF) gained 20% over the same period.
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