Alpiq expands battery storage business with majority acquisition of Harmony Energy

Swiss energy company Alpiq has strengthened its position in Europe’s fast-growing battery storage market by acquiring a 90% stake in Harmony Energy, a developer and operator of battery energy storage systems (BESS).

The acquisition marks a significant step in Alpiq’s strategy to expand its flexibility business as Europe’s electricity system increasingly relies on renewable energy. By adding Harmony Energy’s development expertise and extensive project pipeline, Alpiq aims to become one of the continent’s leading battery storage operators.

The transaction includes around 400 MW of battery projects currently under construction, including a UK facility expected to be connected to the grid in the third quarter of 2026. It also provides Alpiq with access to a multi-gigawatt pipeline of future projects across several European markets.

Battery storage is expected to play an increasingly important role in balancing electricity supply and demand as intermittent renewable generation continues to grow. The acquisition enables Alpiq to strengthen its presence across the entire battery storage value chain, from project development and construction to asset operation and energy management.

“By combining Alpiq’s expertise in flexible power generation and energy management with Harmony Energy’s development capabilities, we are accelerating our ambition to become a leading provider of flexibility solutions in Europe,” said Antje Kanngiesser, CEO of Alpiq.

Harmony Energy will continue operating under its existing brand following the transaction, with its management team remaining in place. Co-founder and CEO Peter Kavanagh will retain a 10% shareholding and continue leading the business, while Christoph Bellin, Head of Battery Energy Storage Systems at Alpiq, will join the company’s management board.

According to the companies, Harmony Energy may continue to sell selected projects to third-party investors as it has done previously, while expanding its development pipeline with the backing of Alpiq’s financial resources and European market presence.