Episode
Why “Perfect” Battery Models Keep Failing in Reality - Harmony Energy
- Podcast
- Transmission
- Published
- Apr 2, 2026
- Duration seconds
- 1987
- Processing state
not_requested- Canonical source
- https://www.spreaker.com/episode/why-perfect-battery-models-keep-failing-in-reality-harmony-energy--71056615
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Summary
Most BESS revenue forecasts aren't wrong, they're just being used for the wrong thing. The gap between a valuation-grade forecast and what a project actually earns in a live market is where BESS developers win or lose. The developers who survive that gap are the ones who design for uncertainty from the start - not after the fact.Recorded live at the Investing in Battery Energy Storage conference, Paul Mason, Chief Investment Officer of Harmony Energy, joins Ed Porter for a return appearance on Transmission.They cover:- Why treating a revenue forecast as a fixed cash flow is the most common mistake in BESS development.- How the listed fund model enabled GB BESS to scale.- Why splitting BESS revenues into ancillary, wholesale, and balancing mechanism streams is now a misleading framework.- How Harmony selects new markets in France and Germany: renewable penetration, grid-first site selection, and why any business case dependent on high ancillary revenues is a losing strategy.- What good optimizer relationships actually look like.Got follow-up questions? Ask Ko, Modo Energy's AI analyst : https://modoenergy.com/sign-up?utm_source=podcast_apps&utm_medium=podcast&utm_id=paul_mason Watch on YouTube: https://youtu.be/a2--s956k-c ⏱ CHAPTERS────────────────────────────────────────────────────────────0:00 Introduction1:16 What do BESS developers get wrong when building an IPP?3:25 Why full EPC contracts — and why they still hired project managers5:28 Duration strategy: the case for 2-hour batteries early7:00 The full BESS lifecycle — develop, build, operate, sell8:25 How Harmony raised capital through listed funds (and why it worked then)10:45 Why listed fund capital flowed out and what came next13:20 The Foresight asset sale: private vs. public valuation15:08 New market…