Swiss electricity producer and energy services provider Alpiq announced that it is has acquired a 90% stake in renewable energy and battery storage developer Harmony Energy, with the company noting that the acquisition will establish it as one of the leading battery energy storage systems (BESS) players in Europe.
Founded in 2010 by Peter Kavanagh, UK-based Harmony specializes in utility-scale battery energy storage systems, with BESS projects in the UK Germany, France and Poland. The company develops, builds, owns and operates projects aimed at supporting grid stability and enabling greater integration of renewable energy sources.
Swiss electricity producer and energy services company Alpiq operates a diversified portfolio of hydroelectric, thermal and renewable energy assets and provides energy trading, optimization and flexibility services across European power markets. The transaction combines its expertise in flexible power generation and energy management with Harmony Energy’s development capabilities and project pipeline, according to the company.
The transaction adds approximately 400 MW of assets under construction to Alpiq’s existing BESS footprint in Europe, including a UK project expected to be connected to the grid as early as Q3 2026, as well as a multi-gigawatt pipeline of battery storage projects across key European markets.
Alpiq said that the transaction will strengthen its asset base and its commercial capabilities and expands its presence across the entire BESS value chain – from development and construction through to operation.
Antje Kanngiesser, CEO Alpiq, said:
“By combining Alpiq’s strength in flexible power generation and energy management with Harmony Energy’s excellent development capabilities and project pipeline, we are scaling up in becoming a leading provider of flexibility solutions in Europe.”
Following completion of the transaction, Harmony Energy will continue to operate as an independent company under its own brand, retaining its team, entrepreneurial culture and operating model, the companies said.
Peter Kavanagh, co-founder and CEO Harmony Energy, said:
“With Alpiq’s financial strength, market expertise and pan-European footprint, we are well positioned to scale our project pipeline while ensuring continuity for our team and partners.”
